So many people have been working from home this year. For that reason, the CRA has implemented a flat rate work from home tax deduction. This is a simplified process for writing off home office expenses. Anyone who worked from home for more than 50% of the time for at Read more…
In a year with more people working from home than ever, many might be questioning if or how they can deduct home office expenses. Yes, if you’ve been working predominantly from home, you can deduct some home office expenses against your income. However, there are some things to consider and Read more…
When reading through the information that the Canadian government has released regarding the CEBA loan, we noticed how the language is aimed primarily at product-based businesses. We, however, do think that there are some service-based businesses that may be eligible for CEBA. We think it is worth the required time Read more…
The Canadian government announces a while back that they would be implementing a $20,000 extension to the CEBA loan. It took a while before the extension actually came to be, but applications are officially open. The original CEBA loan was $40,000, $10,000 of which was forgivable. The extension puts the Read more…
Many business owners may have forgotten about the 10% Wage Subsidy (TWS) Program. The Canadian government announced the program in March, near the beginning of the COVID-19 pandemic. Soon afterward, they announced CEWS (Canada Emergency Wage Subsidy). Who Can Apply? CEWS is tied to income, so businesses without a large Read more…
The new Canada Emergency Rent Subsidy (CERS) is now open for applications!This subsidy covers commercial rent, commercial property tax, insurance, and mortgage interest for businesses with a drop in revenue. What Can Your Business Get? Businesses can qualify for up to 90% coverage depending on their revenue this year compared Read more…
It’s the most wonderful time of the year! Time to start thinking about how you’re going to reward your employees for all the hard work they’ve done this year. And this year more than ever, spreading the holiday cheer is so important! So, we thought we’d do a video all Read more…
Keeping you all in the loop with government supports available for business owners who continue to be affected by COVID-19. A couple of weeks ago, we shared a video on updated supports for businesses. One of these was the Canada Emergency Bank Account (or CEBA). The update extended this loan Read more…
The Canadian government has announced new and continued business support programs. These supports are available for businesses that are continuing to be affected by the COVID-19 pandemic. Click here to read more about these supports. In this video we go over CERS (Canada Emergency Rent Subsidy), CEWS (Canada Emergency Wage Read more…
In this bonus episode, we are bringing in the big guns! Caitlin, VP of finance at TaxForce, joins Riley to talk about what income supports are available to individuals now that CERB has come to an end. She talks about what to do if you were collecting CERB but you Read more…