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Farm Taxes

Important Tax Obligations for Canadian Farmers

tractor in field

Last updated: Jun. 28, 2017 
Canada’s tax laws are confusing in and of themselves. If you’re a Canadian farmer, it can be even more difficult. That’s because there are specific tax obligations that relate only to Canadian farm businesses. Farm Income Tax Basics For income tax purposes, in Canada, farming income is money that comes in … Read more

Benefits of an Accountant for Your Farming Business

farmers shaking hands

Last updated: Jun. 21, 2017 
Working with an Accountant for Your Agribusiness Whether you operate a large-scale, full-time farming business with a thousand head of cattle or run a small, part-time farm that grows garlic, farming is a different type of business. In addition to being able to claim all the typical business expenses, Canadian farmers … Read more

Facts About Full-Time, Part-Time & Hobby Farming Taxes

farming taxes hobby business

Last updated: May. 31, 2017 
Canadian Farm Business Facts There are a lot of different farm tax breaks that Canadian farmers can take advantage of. The Canadian government provides farmers with programs like AgriStability and AgriInvest, that help protect their operations from a drop in income. On top of that, Canadian farmers can deduct all of … Read more

3 Facts About Running a Canadian Family Business

Family on Farm

Last updated: May. 24, 2017 
Canadian Family Business Facts It can be difficult to run a business on your own in Canada let alone with your family. Like any business, running a family business in Canada has its rewards and challenges. But a lot of Canadians make it work. In fact, 80% of all Canadian businesses … Read more

Importance of Keeping Good Records for Agricultural Business

Farm Business Tax Agricultural Business

Last updated: May. 17, 2017 
The Evolving Nature of Farm Accounting Many people might associate farming with getting back to the land. But the fact is that farming has changed; the long lonely days without electricity, running water, a radio, and central heating is long gone. Today’s agricultural operations are much more modern and business-oriented. To … Read more

Don’t Miss These Tax Credits

Last updated: Jan. 8, 2014 
The 2013 budgets released in the Spring of 2013 brought a few changes that will affect your taxes this year and perhaps put more money in your pocket. First-Time Donor’s Super Credit If you or your spouse hasn’t claimed the charitable deduction tax credit in the past 5 years, you’re eligible … Read more