Blog
Using your RRSP before Retirement
Like all investment and tax-planning strategies, borrowing money from your RRSP to put together a down payment on a first home or to finance post-secondary education has both upsides and potential downsides.
CEWS 2.1 – Lots of Changes!
The Canada Emergency Wage Subsidy (CEWS) program has seen a number of changes since the program was first announced in March 2020.
Why Use a Professional Accountant?
Whether starting a business, running a business, investing, tax planning, estate planning and everything in between, it is important to find an accountant that you can connect and feel confident with. It will be the best investment you make.
Should I Hire an Employee or a Sub-Contractor?
Our clients often ask us if hiring a sub-contractor makes more sense than hiring an employee. There are a number of considerations to this question: relative costs of an employee vs. a sub-contractor, legal obligations to each, as well as what are the facts of the relationship.
2021 Tax Filing: How to Avoid a Nightmare
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.
You too can speak accounting!
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.
Indigenous Community Business Fund
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.
New Requirements for B.C. Corporations!
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.
CEWS 2.0 – Now many more employers will qualify!
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.
Tips & Tricks for QuickBooks Online from a Bookkeeper!
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 Dreaded Net Worth Audit
The prospect of going through a Net Worth Audit (“NWA”) by the Canada Revenue Agency (“CRA”) is enough to frighten anyone.
Tax Filing Catch-Up!
Help! I haven’t filed a personal tax return in a few years and don’t know where to start!