Aries Accounting
202-879 Anders Rd V1Z1K2 West Kelowna, BC, Canada

Get rid of the those creepy crawlies!

Business After Hours is back - well, virtually! Make sure to register to see who the auction winners are for both the live auction and the silent auction (on now!).

The Silent Auction starts today! Please take a minute to check out the items up for auction.

Check out our latest newsletter for upcoming deadlines and for some fun things that we've found in tax records! https://mailchi.mp/6/march-newslettertax-deadlines-and-more

Tax Tip Tuesday: As part of the commitment to support Canadian Journalism, a new tax credit has been recently announced. For information on the Digital News Subscription Tax Credit, please visit this link https://www.canada.ca//ca/support-canadian-journalism.html.

Tax Tip Tuesday: Have you signed up for MyAccount with CRA? It's an easy way to manage your taxes online. There are a few options for signing in, even using your online banking passwords. Visit this link for more information, including how you can set up or change your direct deposit information https://www.canada.ca//e-services/account-individuals.html.

Didn't receive our most recent newsletter? Click here to view our latest tax season updates https://mailchi.mp/f3974060a1cb/2020-tax-season-updates.

Tax Tip Tuesday: Just a reminder that the deadline for contributing to your RRSP is March 1, 2021. For more information on this and other important dates visit this link https://www.canada.ca//rrsps-related-plans/important-dates.

Tax Tip Tuesday: We at Aries are asked some fun questions at tax time, this year being no exception! Many questions this year have to do with CRA and COVID related issues - for answers to the top tax questions that CRA gets asked, visit this link https://www.canada.ca//its-tax-time-youve-got-questions-we.

Some funnies to brighten your week!

Tax Tip Tuesday: The CRA has some helpful tips for Seniors this tax season as they recognize that the pandemic may have affected many and how they file their taxes. https://www.canada.ca//t/seniors-tips-help-tax-season.html

Tax Tip Tuesday: If you deferred your Employer Health Tax (EHT) 2019 filing and payment, just a reminder that the final payment is due by September 30, 2020. As part of the province's COVID-19 Action Plan, the 2020 EHT instalment payments are due as follows: *Instalment payment due Jun 15th, 2020 has been extended to Dec 31, 2020 *Instalment payment due Sep 15th, 2020 has been extended to Jan 31, 2021 *Instalment payment due Dec 15th, 2020 has been extended to Feb 28, 2021 Th...e final instalment and filing deadline for 2020 remains Mar 31, 2021. For more information, please visit https://www2.gov.bc.ca//employer-health-tax-o/eht-file-pay. See more

There are some amazing virtual events coming up! If you have ever been interested in setting up an online store, the October 8th Lunch and Learn is for you!

Tax Tip Tuesday: We are all aware of the multiple phone call scams where fraudsters pretend to be from the CRA, but Canadians need to be aware of other tax schemes out there. These tax schemes promise large tax savings and deductions to help reduce taxes. CRA has posted some very great information on these schemes https://www.canada.ca//beware-schemes-promise-large-tax-de.

Nominations needed! The Greater Westside Board of Trade is proceeding with the KBA Annual Event - this year it will be virtual or spread out over various locations. Stay tuned for more details:)

Tax Tip Tuesday: Have you received the CERB? CRA has begun their validation process so be sure to open those brown envelopes or log into My Account to reply. Failure to respond is not recommended and could result in penalties.

Tax Tip Tuesday: If you have been receiving CERB payments, do not forget that it is taxable income to you for 2020! When you are able to go back to work, you may wish to update your TD1 forms to have your employer deduct additional tax. This will help with the taxes owing on next year's tax return.

Tax Tip Tuesday: You can still file your 2019 income tax return! CRA had extended the filing deadline from April 30th to June 1st - they have also extended the payment deadline to September 1st. What does this mean to you? It means that penalties and interest, including the late filing penalty, won't be charged if you make your payment by September 1st. For more information on this extension and why you should file your tax return as soon as possible, visit this link to the CRA Newsroom https://www.canada.ca//can-still-file-2019-tax-benefit-ret.

Happy Friday Everyone! Even if today isn't your actual 'Friday', we hope these pics make your day better!

Tax Tip Tuesday: When is the best time to do Tax Planning? Quick answer - any time other than during Tax Season! Accountants are often too busy during February through April to provide the service you need (related to Tax Planning). Also, by March and April it is too late to do RRSPs or Bonuses, etc. Tax Planning is best done throughout the current year with up to date information.

Tax Tip Tuesday: Fraudulent activity is nothing new, however during the COVID-19 crisis, scammers have found new ways to take advantage. Most of these cases are related to identity theft and committing fraud through the CRA's My Account portal. Signs of this activity may include mail from CRA indicating recent changes to your My Account; phone calls from people claiming to be CRA agents and asking for personal information; and emails or text messages. It's important to rememb...er that the CRA will NEVER communicate via email or text message. Whether or not you have a CRA My Account, one preventative measure you can take right now is to create a PIN with the CRA. You can create this PIN by calling CRA. The number to call is 1-800-959-8281. When you call, another great idea would be to confirm what direct deposit information the CRA has on file for you. For more information on steps you can take to protect yourself, please do not hesitate to contact us! See more

Tax Tip Tuesday: WorkSafe BC announced yesterday that has once again extending the payment deferral period for another three months. This will impact those employers who report payroll and pay their premiums quarterly. The payments for both the first and second quarter are now due on October 20, 2020. While the requirement to pay has been deferred, employers are still required to report their quarterly payroll. For more information, please visit this site or contact WorkSafe BC directly https://www.worksafebc.com//worksafebc-deferring-quarterly.

Update: Changes to CRA filing and payment deadlines: Personal Taxes: While the actual T1 filing deadline has not been changed from June 1st, CRA has announced that there will be no late-filing penalties charged if returns are filed and paid by September 1, 2020. There are many benefits to filing your return on time - our office will still be trying to ensure everyone is filed by June 1, 2020. Corporate Taxes: For corporations that have a year end filing deadline in June, Jul...y or August, the CRA has further extended the filing date to September 1, 2020. The payment date for balances owing and instalments is September 1, 2020. This applies to any amounts owing on or after March 18th and before September 1st. As always, for the most updated information on this constantly evolving situation please visit the CRA site directly https://www.canada.ca//covid-19-update/covid-19-filing-pay

Tax Tip Tuesday: This is an interesting piece of information! CRA's My Account has a feature that shows you if you have any uncashed cheques waiting for you. This is a new service offered in 2020 - just another reason to get signed up for My Account. Check it out https://www.canada.ca//new-online-feature-see-uncashed-tax

Many businesses are in the process of opening back up to the public, and now have the added responsibility of planning COVID safe procedures for both their employees and the public. WorkSafe BC has published guidelines to assist employers with their re-opening plans. Here is the link for more information https://www.worksafebc.com//covid-19-returning-safe-operat.

Tax Tip Tuesday: Our office still gets numerous questions about the CERB - especially regarding eligibility. While we do our best to keep up with the ever changing details with any of the government funding options, we urge our clients and friends to contact the CRA with specific questions. Please visit this link for CERB information, including new information on how to repay a CERB payment received in error (or if you are no longer eligible) https://www.canada.ca//benefi/apply-for-cerb-with-cra.html.

As we have completed Tax Season Part 1, we'd like to let our valued clients and friends know that we will be closing at noon Friday, May 1st and will also be closed Saturday, May 2nd. We will reopen Monday, May 4th as usual, and will be rested in order to finish this tax season strong. We would like extend our gratitude and appreciation to all our clients for their patience during this time. It has been a very different tax season this year to say the least.

Tax Tip Tuesday: Update on the Canada Emergency Wage Subsidy (CEWS) - the application process opens for eligible employers starting April 27, 2020. The application will be made available through My Business Account or through an online application form. Our office strongly recommends employers become familiar with all the information provided by the CRA on this subsidy https://www.canada.ca//services/subsidy/emergency-wage-sub.

Tax Tip Tuesday: Today we'd like to share some simple exercises for those of you that would like to stay fit while you're stuck at home. Enjoy!!!

As many of you know, the application process for the Canada Emergency Response Benefit (CERB) opened today. You can apply online through MyAccount. If you aren't already signed up for MyAccount, please visit this link (which includes a cute video!) to find out how to get all set up. https://www.canada.ca//e-services/account-individuals.html

Tax Tip Tuesday: During this ever changing unprecedented health crisis, our office is requesting a bit of patience from you while we do our very best to decipher the information from our government. We also need this time to assist our clients with preparing Record of Employments (ROE's) for so many that have been laid off. If we take a bit longer to prepare your Personal Tax return please understand the reasoning.

We would like to remind all of our clients that yes, we are open for business. We have safeguards in place, and options for drop off and pickup so you do not need to visit our office if you'd rather not. If you want to come in person, please know that we are here for you and always happy to see you (at a distance of course!). If anything changes with our availability, we will be sure to keep you updated!