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    <loc>https://www.openbookca.ca/blog</loc>
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    <lastmod>2025-05-17</lastmod>
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  <url>
    <loc>https://www.openbookca.ca/blog/igotthisforfree</loc>
    <changefreq>monthly</changefreq>
    <priority>0.5</priority>
    <lastmod>2025-05-17</lastmod>
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      <image:title>Blog - "I Got This for Free!" — But Did You Really? Bookkeeping for Non-Cash Payments in Ontario - In today’s world of influencer marketing, brand partnerships, and small business collaborations, it’s not uncommon to receive free products, services, or subscriptions in exchange for a shoutout, review, or other form of promotion.</image:title>
      <image:caption>But here’s the catch: even if money didn't change hands, the CRA still sees value being exchanged. So how does that affect your bookkeeping? Let’s break it down.</image:caption>
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      <image:loc>https://images.squarespace-cdn.com/content/v1/62a60415b06b8043cb3fde55/44919551-6dd1-44d8-a275-7f647bb42cfc/giphy+%281%29.gif</image:loc>
      <image:title>Blog - "I Got This for Free!" — But Did You Really? Bookkeeping for Non-Cash Payments in Ontario - What Do You Need to Track?</image:title>
      <image:caption>Here’s what you should enter in your bookkeeping software: Fair Market Value Record the approximate fair market value (FMV) of the product or service you received. This is usually the retail price. Date Received Log the date you received the product or subscription access. Description Include a short description of what was received and why—e.g., “3-month skincare subscription in exchange for IG reel and blog post.” Income Category This should be recorded as non-monetary income (barter income). Here’s a simple example of an entry in your bookkeeping system: Date Description Income (Value) Category 2025-05-10 Free skincare box for promo video $120.00 Barter Income</image:caption>
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    <loc>https://www.openbookca.ca/blog/claiminghomeexpenses</loc>
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    <priority>0.5</priority>
    <lastmod>2025-01-06</lastmod>
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      <image:title>Blog - Can I Claim Home Expenses? - This is something you might've not even thought about. Suppose you have clients stop by your home, or you work every day in your home office (or use a corner of your living room to work). In that case, you can claim that business-use-of-home portion onto your T2125 (Statement of Business or Professional Activities).</image:title>
      <image:caption>What is a T2125? I kind of have to go over it really quickly to give you an idea of what it is. As a sole proprietor/partner, when filing your INCOME TAXES, your accountant or tax professional (or yourself on H&amp;R Block) will fill in your business information and numbers into a section called a T2125. It’s really just an extra form to report either business or professional income and expenses.</image:caption>
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      <image:title>Blog - Can I Claim Home Expenses? - Let me give you an example: Let’s say you have a designated office space in your apartment where you work. This space measures 10’x10’, totalling 100 square feet. Your apartment is a total of 900 square feet. The business-use-of-home percentage is 11% (100/900). This means you can claim 11% of your total home expenses as a business expense, even if you rent your apartment or house. You must tally up ALL of your home expenses for the year (that matches your fiscal year, ex, January to December). It’ll look similar to this: Rent - $12,000 Insurance – $1,500 Water + Heat - $2,400 Total expenses: $15,900 You can only claim the portion of these expenses directly related to business use. You can claim: 11% (this is your 100 square feet / 900 square feet) x $15,900 (total home expenses for the year) = $1,749.00 in business expenses.</image:title>
      <image:caption>However, you must add extra calculations if you work in a COMMON AREA (like your living room or kitchen). Don’t worry; I have a spreadsheet to help you with this LINKED BELOW. ↓</image:caption>
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  <url>
    <loc>https://www.openbookca.ca/blog/registering-for-an-ontario-bin</loc>
    <changefreq>monthly</changefreq>
    <priority>0.5</priority>
    <lastmod>2025-01-06</lastmod>
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  <url>
    <loc>https://www.openbookca.ca/blog/small-business-bookkeeping-checklist</loc>
    <changefreq>monthly</changefreq>
    <priority>0.5</priority>
    <lastmod>2024-08-20</lastmod>
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      <image:loc>https://images.squarespace-cdn.com/content/v1/62a60415b06b8043cb3fde55/afcd6ccd-20d2-48f6-93b3-d24ab59d0997/giphy+%281%29.gif</image:loc>
      <image:title>Blog - How I can help you with your bookkeeping - Today, we're tackling a significant topic: the busy season, Q4, AKA the holidays. It’s on the horizon. You might already be knee-deep in planning your seasonal products or stocking up on gift certificates and packaging material.</image:title>
      <image:caption>Because I care for my fellow business owners, I relate to leaving some importing things on the back burner because, let’s face it, you’re in 10 places at once as a business owner. Essential things like sewing products, crafting custom signs, emailing customers, providing your services to clients, and all of the nitty-gritty of owning a business get brought up at the top.  Real moment: for me, that’s social media. I find it challenging to sit down and get a big picture of my posts, end goals, and ideas. That’s why I have an Emily on my side. She helps me so much bring calmness to my chaos.  I’m here to do just that: ease the chaos in your bookkeeping/finances with Open Book.</image:caption>
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      <image:loc>https://images.squarespace-cdn.com/content/v1/62a60415b06b8043cb3fde55/78b0763b-5c86-433e-beab-ac377200c6c2/giphy+%282%29.gif</image:loc>
      <image:title>Blog - How I can help you with your bookkeeping - I could go on and on. Those are scenarios and stories I’ve heard from my clients, and trust me; I was there before when I owned my product-based business when I was 19 years old. I had no idea about this world of bookkeeping and why it was so important.</image:title>
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    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/62a60415b06b8043cb3fde55/a3b86588-ff65-49b5-96be-3577f9db586a/giphy+%283%29+%281%29.gif</image:loc>
      <image:title>Blog - How I can help you with your bookkeeping - It ensures your system is READY FOR SUCCESS and guides you TO DO YOUR BOOKKEEPING CORRECTLY. It gives the perfect ✨refresh✨ to your bookkeeping system.</image:title>
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  <url>
    <loc>https://www.openbookca.ca/blog/checklist</loc>
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    <priority>0.5</priority>
    <lastmod>2024-06-09</lastmod>
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      <image:loc>https://images.squarespace-cdn.com/content/v1/62a60415b06b8043cb3fde55/cb6f9bfe-7db0-4d49-b865-6a891a4ed2c6/giphy.gif</image:loc>
      <image:title>Blog - Checklist to Help Clean your Books</image:title>
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      <image:loc>https://images.squarespace-cdn.com/content/v1/62a60415b06b8043cb3fde55/8deedba9-b015-49d4-a23e-c6048f3a4365/giphy+%283%29.gif</image:loc>
      <image:title>Blog - Checklist to Help Clean your Books - Here’s what you’re going to do</image:title>
      <image:caption>Open your bookkeeping system (spreadsheet or software) Open a Google Doc, Word document or take out a paper and pen And move through this checklist below.</image:caption>
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  </url>
  <url>
    <loc>https://www.openbookca.ca/blog/transitioning</loc>
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    <priority>0.5</priority>
    <lastmod>2024-06-09</lastmod>
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      <image:loc>https://images.squarespace-cdn.com/content/v1/62a60415b06b8043cb3fde55/2f3ac819-ea76-44ce-a95c-740d95d833c1/Schitts+Creek</image:loc>
      <image:title>Blog - Transitioning to a Bookkeeping Software - January 15, 2024: We’re already midway into January… WHAT!?</image:title>
      <image:caption>I’m so ready for summer already, lol. The snow and the cold in Northern Ontario has really been pushing my buttons. I’ll just close my eyes, sit beside my heater and pretend I’m in Costa Rica.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/62a60415b06b8043cb3fde55/d0c58573-43d4-4fa8-aa8c-1ca141f4b490/Schitts+Creek</image:loc>
      <image:title>Blog - Transitioning to a Bookkeeping Software</image:title>
      <image:caption>If you need more guidance, you can find more information on my Services or my Tools for DIYers page on my website.</image:caption>
    </image:image>
  </url>
  <url>
    <loc>https://www.openbookca.ca/blog/ivebeenthere</loc>
    <changefreq>monthly</changefreq>
    <priority>0.5</priority>
    <lastmod>2024-06-09</lastmod>
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      <image:loc>https://images.squarespace-cdn.com/content/v1/62a60415b06b8043cb3fde55/8227561d-9115-47cf-96bc-42e0377c87aa/The+Office</image:loc>
      <image:title>Blog - I’ve been there… - January 8, 2024: It’s National Clean off Your Desk Day!</image:title>
      <image:caption>And boy, does my desk need it (and my entire office if I’m being real).</image:caption>
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  <url>
    <loc>https://www.openbookca.ca/blog/cleanupforaclient</loc>
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    <priority>0.5</priority>
    <lastmod>2024-08-13</lastmod>
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      <image:loc>https://images.squarespace-cdn.com/content/v1/62a60415b06b8043cb3fde55/6e3ea486-a296-41b8-8010-4f4895e7781c/Schitts+Creek</image:loc>
      <image:title>Blog - A Bookkeeping Clean Up for a Client - The Process - January 29, 2024: This client was so amazing to work with. Here’s what went down…</image:title>
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    <image:image>
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      <image:title>Blog - A Bookkeeping Clean Up for a Client - The Process - Make it stand out</image:title>
      <image:caption>Whatever it is, the way you tell your story online can make all the difference.</image:caption>
    </image:image>
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  <url>
    <loc>https://www.openbookca.ca/blog/beforethestormhitsagain</loc>
    <changefreq>monthly</changefreq>
    <priority>0.5</priority>
    <lastmod>2024-06-09</lastmod>
    <image:image>
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      <image:title>Blog - Before the storm hits again… - May 26, 2023: Yes, Moira, agreed.</image:title>
      <image:caption>I’m so ready for this.</image:caption>
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    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/62a60415b06b8043cb3fde55/8e607693-6134-4a0c-84b4-d28c45043713/giphy+%281%29.gif</image:loc>
      <image:title>Blog - Before the storm hits again… - Make it stand out</image:title>
      <image:caption>Whatever it is, the way you tell your story online can make all the difference.</image:caption>
    </image:image>
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  <url>
    <loc>https://www.openbookca.ca/blog/claimingvehicleexpenses</loc>
    <changefreq>monthly</changefreq>
    <priority>0.5</priority>
    <lastmod>2025-01-06</lastmod>
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      <image:loc>https://images.squarespace-cdn.com/content/v1/62a60415b06b8043cb3fde55/cb6f9bfe-7db0-4d49-b865-6a891a4ed2c6/giphy.gif</image:loc>
      <image:title>Blog - Can I Claim Vehicle Expenses?</image:title>
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      <image:loc>https://images.squarespace-cdn.com/content/v1/62a60415b06b8043cb3fde55/1a38ed65-5998-485f-9d6f-e295a76cb377/giphy+%282%29.gif</image:loc>
      <image:title>Blog - Can I Claim Vehicle Expenses? - If you use a motor vehicle or passenger vehicle for business and personal use, you can deduct only part of the expenses that you paid to earn income.</image:title>
      <image:caption>A recent client asked me: “Okay, let’s say I filled my gas tank for $50.00 and drove to a client’s house to provide a service. I used the rest of my tank for personal trips. How does this calculation work? Can I claim the entire $50.00 as a business expense?” To support the amount you can deduct, keep a record of the total kilometres you drive and the kilometres you drive to earn income (logbook).</image:caption>
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    <loc>https://www.openbookca.ca/home</loc>
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    <loc>https://www.openbookca.ca/workshop</loc>
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