Afshan Ahmad CPA Professional Corporation
101 Dundas Street West, Suite 304 L1N2M1 Whitby, ON, Canada

We wish you a glittery, sparkly, joyous Christmas. May you feel the warmth of your family's love; and may peace and hope fill your life throughout the year. Merry Christmas

Super proud of these local small business owners who continue to grow their fantastic small business with managing a young family during covid. Be sure to watch LITTLE BUCK on Dragons' Den tonight at 8pm.

Did you know WSIB had allowed Ontario businesses to defer their premiums due between March to August 2020 until January 31, 2021. The deadline to report deferred amounts was October 31, 2020. If you have any outstanding payroll reporting, please complete it immediately. All businesses that choose to participate in the financial relief package can make payments in one or multiple, equal installments between January and June 30, 2021, interest-free. If you require additional support once the repayment period has started, please contact [email protected] or call 1-800-387-0750, Monday to Friday 7:30 a.m. to 5 p.m. For more details on the financial relief package, please visit wsib.ca/financialrelief

Finally some news that many business owners haven been waiting for. You can now apply for subsidy for your business's rent and property expenses if you have been negatively impacted by COVID-19. You no longer have to rely on your landlord to apply for Canada Emergency Rent Subsidy (CERS). CRA has done a fantastic job of explaining CERS, please refer to the link below to learn more. ... https://www.canada.ca//subsidy/emergency-rent-subsidy.html See more

Perks of having a client thats a rock star marketer? You get promotional vidoes as gifts. Thanks Law Firm Marketing Canada :)

Critical illness insurance should be a priority for all self employed folks. Here are some wise words from a very well respected financial insurance broker.

PSA: Durham Region enters the Red Control measures effective Monday, Nov 23rd. For more information, please click the link below. https://www.ontario.ca//covid-19-response-framework-keepin

Lest we forget.

The votes are in and we are floored by your love and support. Diamond Award for Best Accountant Diamond Award for Best Income Tax Preparation... Platinum Award for Best Accounting Thank you to each and everyone of you who took the time to vote for us. Your support means the world to us. Congratulations to all fellow nominees and winners.

A lot of folks have been reaching out to us to find out about the expanded version of Canada Emergency Benefit Account (CEBA). Here is the latest update: - On October 9th, the Government of Canada announced an expanded CEBA which would enable businesses, and not-for-profits eligible for CEBA loansand that continue to be seriously impacted by the pandemicto access an interest-free loan of up to $20,000, in addition to the original CEBA loan of $40,000. Half of this addition...al financing would be forgivable if repaid by December 31, 2022. - It was also announced that the deadline for CEBA applications is extended to December 31st, 2020. Further details on these changes will be released in coming days and we will be sure to share them with you. In the meantime, feel free to contact the new CEBA Call Centre at 1-888-324-4201 for a status update on your CEBA application, or if you have other questions.-

Some of you might have applied for CERB through CRA as well as Service Canada and consequently received the CERB payment twice. CRA is now working with Service Canada to track down those who mistakenly received CERB twice. If you are one of those individuals, you would receive a letter from CRA outlining this. If you already know you received the amounts in error, please make arrangement to pay it back no later than December 31, 2020. If you are unable to do so, please reach out to CRA to make a payment plan.

A lot of businesses had been unable to qualify for the Canada Emergency Business Account (CEBA) because they were conducting their business from a personal bank account instead of a business bank account. Today, the Deputy Prime Minister and Minister of Finance, Chrystia Freeland announced that as of October 26, 2020, CEBA will be available to businesses that have been operating out of a non-business banking account. To be eligible, businesses must have been operating as a bu...siness as of March 1, 2020, must successfully open a business account at a Canadian financial institution that is participating in CEBA, and meet the other existing CEBA eligibility criteria. The deadline to apply for CEBA is December 31, 2020. We recommend that you use the pre-screening tool https://verify-verifier.ceba-cuec.ca/ or call the CEBA line at 1-888-324-4201 to confirm your eligibility.

Anatomy of an Entrepreneur. I think this pretty much nails it. What do you think?