12 years ago
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As the controversy surrounding certain senators’ expenses swirls in Ottawa, what better to time than now to post a reminder of the rules regarding claiming travel expenses as a tax deduction. For those operating sole proprietorships or partnerships, you can deduct travel expenses you incur to earn business income. Travel expenses include: Public transportation fares … Read more

12 years ago
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Apple is renowned worldwide for its creativity. Think iPad. Think iPhone. Think iMac. The list goes on. In fact, Think Different was the company ad slogan in the 90s. Today, however, a different sort of creativity has put Apple in the headlines. Let’s call it creative tax accounting. At the crux of the controversy is … Read more

12 years ago
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In part two of a two-part series, we offer tips on how to get started with your company’s bookkeeping. Previously, in part one, we outlined reasons why bookkeeping is important for your business. So, let’s get going. What do you need to know to get up and running with your company bookkeeping? What Records does the … Read more

12 years ago
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In an earlier blog post we wrote about the importance of getting started early with your tax planning. One of the key aspects of early tax planning you’ll need to consider is your company’s bookkeeping, or record keeping. Bookkeeping refers to the organization and storage of accounting and financial documents such as ledgers, journals, financial … Read more

12 years ago
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Win the Trip of a Lifetime Sponsored by FBC! UPDATE: Check out the submissions and vote for your favourites. Clear your calendar for July 21st – August 3rd, 2013. Attend the 19th International Farm Management Congress in Poland this summer, all expenses paid. Produce a 1-minute video demonstrating Canadian Farmers Managing for Success for your … Read more

12 years ago
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Whew! The April 30th tax deadline has come and gone and you did it. You filed your 2012 taxes on time. Congratulations! You deserve a pat on the back. OK. Now let’s get back to work. If you’re like many taxpayers, your tax season was chaotic, disorganized, and stressful. How can you make future tax … Read more

12 years ago
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It’s probably not news to you, but the HST in British Columbia, which is a combination of a 5% federal component and a 7% provincial component, will be replaced by the Goods and Services Tax (GST) and a B.C. provincial sales tax (PST) on April 1, 2013, subject to some transitional rules. All businesses will … Read more

12 years ago
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Canadian taxpayers owe the Canada Revenue Agency (CRA) $29 billion in unpaid taxes according to a recent article in the National Post. The article states that the growth in tax debt in recent years — according to CRA officials — can be attributed to a number of factors, including: An increase in overall revenues due to a … Read more

12 years ago
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The tax deadline is April 30 — less than a week away. For many Canadians, this means searching a mountain of paperwork for missing tax slips, scouring wallets for wayward receipts and making the annual visit to the accountant for tax preparation. But for some, April 30 will come and go like any other Tuesday … Read more

12 years ago
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FBC is proud to support national charities and local programs that work to strengthen the communities in which we operate. One of the charities that we’re honoured to support is Kids Help Phone. This organization provides counseling to kids, teens and young people by phone or online during times of crisis, helping to connect them … Read more