Quote:
Originally posted by SleazyDream
open a us funds account at your bank - pay all business expenses in US money - and they you only get dinged on the net personal income you change to canadian from your gross total - it will save you a LOT.
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Thanks SleazyDream. However I've been operating like this since the start (US business account and a personal US funds credit card - apparently in Quebec it is not possible to get a US business credit card) . However there are still some issues.
This is my full time occupation, I have 2 mortgages (house and cottage), 2 car payments, office rent and 3 salaries to pay, etc etc.
This is the largest chunk of my expenses, and I have to pay it all in canadian funds, which is why I lose tons of cash to the simple operation of transferring funds from US to Canadian. It's really quite irritating, I'm trying to find ways to reduce my losses. I'm meeting my accountant next week and this will be the main topic I think.