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The recent measures released by the government of Canada to combat the negative fallout from COVID-19 provides some relief to owner-managers of small businesses.  While these measures do help, owner-managers may also position themselves in a better financial position by considering the following: Stop paying yourself a salary Owner Managers who pay themselves a recurring […]

We developed a simple calculator to help small businesses calculate their Temporary Wage Subsidy. Download Link Click here to download the excel copy. Video on Wage Subsidy and how to use our Calculator Online Calculator Here’s the online version of the calculator. However, for a better experience, please download the excel using the link provided

The Treasury Department and Internal Revenue Service announced today that the federal income tax filing due date is automatically extended from April 15, 2020, to July 15, 2020. Taxpayers can also defer federal income tax payments due on April 15, 2020, to July 15, 2020, without penalties and interest, regardless of the amount owed. This

On March 21, 2020, the CRA provided some clarity on the Temporary Wage Subsidy. Some details seem to be missing, but this provides a lot of answers we and our clients have been looking for. So here it is. Please refer to our calculator here. Our commentary is in red text. 1. What is the

We continue to closely follow relevant updates concerning COVID-19. The government has announced the following measures to help alleviate concerns and financial hardships. Tax Relief Individuals T1 filing deadline from April 30, 2020 to June 1, 2020 (self-employed individuals have until June 15, 2020 to file as usual). Those getting the GST and Canada Child