AC Financial Services Inc

I am a Certified Financial Planner, CFP and I specialize in taxes. I take courses in all areas of financial planning and take 25 hours of professional development courses a year to maintain my designation. In 2021, I am adding the CIFP's Registered Retirement Consultant courses to my annual professional development so that I can help clients and business owners plan for their retirement. If you have any retirement-related questions, I look forward to talking to you about them, give me a call.

In mid-January, I will be running a 3-week program for self-employed business owners, Understanding Your Taxes. I will be going through the forms that self-employed business owners need to complete for tax time and talking about some of the items that CRA looks at. The goal of this program is to provide a basic understanding of what is required so you can prepare everything to be handed over to your accountant or do it yourself. Message me if you would like more details.

Did your company receive a CEBA loan from the government? If so, the 25%, $10,000 forgivable portion is taxable income this year! If any of the forgivable portion is repaid, because requirements were not met, then this can be deducted in the taxation year when the amount is repaid. If you need any help with your tax planning or government programs, let us know, we can help!

Did you know that retroactive to January 1, 2020, the EHT exemption is increasing from $490,000 to $1 million for the 2020 tax year. The EHT exemption will return to $490,000 on January 1, 2021. This change will provide quick relief to employers that pay the EHT.