Bloom Accounting Services

Individuals have until June 30, 2021 to apply for the BC RECOVERY BENEFIT - see link below for more details. https://www2.gov.bc.ca//content/economic-/recovery-benefit... #covidsupport #covidsupportbc

Have you switched your accounting software to cloud based yet? If not, let us help you convert your software to Quick Books Online. Advantages of Using QuickBooks Online Auto back up of Accounting Information ... Email invoices and receive payments online Job costing & inventory management Integrate CRM, Square, Ecommerce Sales Integrate Bank Feeds from Credit Card & Banks Access on the go and pepare for future QBO advancements.... Did you know you will be able to talk to your accounting software and QBO will provide you with anaytics? exciting isn't it? stay tuned...

Annual Worksafe Filings are just around the corner. Let's keep premium low and your environment safe for both workers and your customers. Tip: Did you know that you can request a premium reduction if you have had no claims?... Review your Covid Safety Plan with WorkSafe BC's App: https://www.worksafebc.com//inte/covid-19-safety-plan-app Stay Safe! #worksafe #cpa #remoteaccounting #virtualaccountant

Canada Recovery Benefit (CRB) (This benefit would be effective from September 27 for one year.) provides $400 per week for up to 26 weeks, to workers who are self-employed or are not eligible for Employment Insurance (EI) and who still require income support. You may be eligible for this benefit if you:... are not eligible for EI reside in Canada are at least 15 years old and have a valid Social Insurance Number (SIN) have stopped working due to the COVID-19 pandemic and are available and looking for work; or are working and have had a reduction in their employment/self-employment income for reasons related to COVID-19 had employment and/or self-employment income of at least $5,000 in 2019 or in 2020 have not quit your job voluntarily This benefit is pending the passage of legislation in the House of Commons and Senate. More details will be made available soon.

a chance for some extra cash for those businesses that need it https://occ.ca/canada-united-small-business-relief-fund/

We just integrated Connex app to automate and sync eCommerce sales to QBO for one of our clients. Check out the free webinars to learn more about connex. https://www.syncwithconnex.com/webinars/

Great review from TOV Trauma... "As a new small business owner, I was feeling overwhelmed with trying to figure out how to manage my finances and corporate taxes. Jo was very reassuring and patient with me and made the process an easy one. I look forward to working with her more as my business grows."

To those businesses who are opening back up their doors, wishing you all the best & MANY THANKS for the extra efforts taken to ensure the safety of the public and your staff.

The BC Emergency Benefit for Workers provides an additional $1000 to individuals who are impacted financially by Covid-19. Find Out More Here: https://bloomaccounting.ca/blog Feel free to contact us with any inquiries as we are here to help!

Do you need help applying for the 75% Wage Subsidy Program? We are here to help. Call us 778.801.5789 or visit www.bloomaccounting.ca

75% Wage Subsidy for Canadian Businesses is open for application Today!

Businesses with minimum $20K wage expenses can qualify for CEBA, an interest free loan of $40K. 25% of the loan ($10K is forgivable if you repay the loan by Dec 31, 2021) You can apply through major banks. To find out more: https://ceba-cuec.ca/

For those who are struggling to pay rent. The Temp Rental subsidy program is open for application. https://www.bchousing.org/BCTRS

Better News for Businesses!

More on Wage Subsidy for Businesses 10% vs 75% Note: Changes announced April 8th - Sales decrease required drops to 15%. https://youtu.be/u1oPX6yHD_g

CERB applications start today for people with Jan - Mar birthdays. Here's a repost of an older video from last week. https://youtu.be/lXbh2Ge4JQQ

75% Wage Subsidy! https://www.google.ca/amp/s/www.cbc.ca/amp/1.5512151

https://globalnews.ca//coronavirus-how-to-apply-for-covid/

T1 Personal Tax Returns due date is extended to June 1st. Balance payable by Aug 31st

*MAJOR TAX ANNOUNCEMENT MADE ON COVID- 19 RESPONSE by Prime Minister Trudeau on March 17* Canada Child Benefit increase by $550 per family on average to help parents with young children Emergency Care Benefit - for workers up to $900 every 2 weeks that need to stay home and don't qualify for EI ... Emergency Support Benefit - Government will support workers financially who do not qualify for EI and are facing unemployment Canadian Banks will be more flexible for delays on mortgage payments and other credit bills up to 6 months. Taxes will be delayed - you will have until June 1 to file income taxes, and until August 2020 to make payments Temporary Wage Subsidy - to eligible small businesses, 10% of wages for three months, to help employers keep their workers on the payroll. Not for profits and charities are included. Small businesses will be supported with Business Credit Availability Program For low-come Canadians, In May, the GST credit will be increased up to $300 and up to $150 per child Student loans- 6 months interest free pause on repayment Boosting funding for women's shelters & those experiencing homelessness *as rules are ever fluid and changing please Listen to notices sent by Health Canada/Provincial/Local Governments.* to confirm validity.

Pay for your business expenses on a separate, business-only credit card. Do not pay for personal expenses on that credit card. This will make bookkeeping easier and prevent potential tax and legal issues in the future. If you have a lot of business expenses, it may be worthwhile to get a business credit card which offers generous reward programs. #bookkeepingtip #entrepreneurs #creditcard

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