2020 has been a difficult year for most of us. The closure of international borders and social distancing to curb the spread of COVID-19 has had a devastating effect on the world’s economies. Many Canadians have lost their jobs or have seen their businesses contract due to the pandemic.
How often do you leave a meeting with your accountant feeling more confused than before you started? This reminds me of the joke What is the definition of “accountant”? Someone who solves a problem you didn’t know you had in a way you don’t understand. In all seriousness, as a business owner it is helpful to know the basic accounting terminology to understand your annual financial statements.
The Canadian Government has announced some good news for First Nation, Inuit and Metis communities and collectives about access funding for their community-owned businesses affected by COVID-19.
Starting October 1, 2020 all B.C. private corporations should have a transparency register. The register should be kept at the company’s records office for inspection, which is normally your lawyer’s office, but not all corporations have a lawyer on retainer. This registry is a document that is not required to be filed with the government but should be accessible upon request.
In case you missed it, the Federal government has announced significant changes to its Canada Emergency Wage Subsidy (CEWS). The changes were so significant that many refer to the latest version of the program as CEWS 2.0.
As bookkeeping goes more into the cloud, we have found that one of the most reliable and popular software is QuickBooks Online (“QBO”) which many of our clients use.
The prospect of going through a Net Worth Audit (“NWA”) by the Canada Revenue Agency (“CRA”) is enough to frighten anyone.
Help! I haven’t filed a personal tax return in a few years and don’t know where to start!
Having conversations about estate planning can be difficult. Few want to think about, let alone plan for their death. There are a number of important reasons to plan in advance.
On April 11, the Canada Emergency Wage Subsidy (CEWS) became law. The subsidy is intended to assist employers in continuing to employ their staff during the economic downturn caused by COVID-19.
On April 1, 2020 the Department of Finance released new details about the Federal Government’s response plan for Canadian businesses impacted by the COVID-19.
A common question among people who are approaching their retirement years is when should they start receiving Canada Pension Plan (CPP) benefits?