Paid myself via e-transfer how to calculate and pay the taxes

Hi sunshine20231,

Welcome to the Community. It's important to correctly record your transactions to keep your books balanced. QuickBooks Online is a great program that gives you the ability to easily track your sales and expenses. I'd be glad to help.

I encourage you to reach out to an accountant. They'll be able to point you in the right direction to calculate and pay the taxes to keep your books balanced. If you don't have an accountant, you can find one near you by clicking on My Accountant on the left navigation menu> and then Find a pro to help.

Let me know if you have questions, I'll be happy to help.

Hi SunShine

To calculate your taxes, the CRA gives you this handy tool: https://www.canada.ca/en/revenue-agency/services/e-services/digital-services-businesses/payroll-dedu...

Once you've calculated your taxes, you can remit them using e-file: https://www.canada.ca/en/revenue-agency/services/tax/businesses/topics/payroll/remitting-source-dedu...

Most banks give you the option of doing this too!

Hope this helps!!

Leith