Last updated: Oct. 8, 2021
Last updated Feb. 16, 2021. We will update blog posts when more information is released. Did your business take advantage of federal COVID-19 programs in 2020? If so, questions are likely racing through your mind about the tax implications of receiving benefits from the various programs. What do you need to … Read more
Last updated: Feb. 3, 2021
The CRA has temporarily shut down its online services after thousands of accounts were compromised by cyberattacks. The attacks targeted the CRA and GCKEY, an online portal where Canadians can access services such as employment insurance and veterans’ benefits. The Canadian government says the attacks were a form of “credential stuffing.” … Read more
Last updated: Sep. 28, 2020
As a small business owner, you need accurate and up-to-date financial information so you can make the best decisions for your business. As your business grows and you hire employees, or take on more customers, keeping track of your business expenses and ensuring your books are accurate becomes more complex and … Read more
Last updated: Jul. 30, 2020
Hundreds of thousands of Canadians transitioned to working from home when the COVID-19 outbreak was declared a pandemic. If you’re one of them, you know that working from home comes with its own costs (heating, electricity, maintenance). As a small business owner, you can deduct expenses for the business use of … Read more
Last updated: Feb. 28, 2020
On March 26, 2020, Nova Scotia Finance and Treasury Board Minister Karen Casey presented the province’s fiscal 2020–21 budget. The minister anticipates a surplus of $55 million for 2020–21, and a surplus of $63.2 million, $72.5 million and $74 million in the next three years. There was a general corporate rate … Read more
Last updated: Feb. 19, 2020
We love reading the feedback we receive from FBC Members about how we help make their life less taxing. Below are some of our favourite FBC reviews collected through Rocket Referrals. FBC on-site tax appointment and unlimited consultation FBC Members love that we visit their home or place of business to … Read more
Last updated: Feb. 5, 2020
We previously discussed the benefits and limitations of paying a spouse or children for work on the farm. Usually, for record-keeping purposes it is most effective to issue cash amounts by cheque to meet the conditions set out by the Canada Revenue Agency. There are other means of employee compensation, however, … Read more
Last updated: Jan. 27, 2020
Updated: November 19, 2020 Many self-employed individuals and small business owners feel overwhelmed by the demands of tax season. They often don’t know the filing requirements established by the CRA, or how back office processes can help optimize their tax return. It’s a lot to keep track of on top of … Read more
Last updated: Jan. 22, 2020
Do you get frustrated when dealing with the Canada Revenue Agency (CRA)? Do you find you’re on hold for an unreasonable amount of time? Do you think they have work to do when it comes to improving their customer service? If you said yes to any of the above, you won’t … Read more