Collaborative CPA

Deadline to apply for CEBA loan/extension is approaching at the end of March, here is some information to keep in mind: The loan is interest-free If fully repaid before December 31, 2022, $10-$20k is forgivable (depending on amount borrowed)... The deadline to apply is March 31, 2021 The loan was extended to $60k late last year For more information contact CRA's CEBA help line at 1-888-324-4201, your banking institution, or contact us. We are happy to help:) Follow us each week for #TuesdayTaxTips

After a year like 2020, we are more aware of the importance of mental health than ever before. #BellLetsTalk is a great opportunity to remember we are all in this together, and that we never know the full depth of what others are going through. There is strength in talking about mental health. #KindnessAlways #SickNotWeak #MentalHealth #MentalHealthAwareness

Did you know you have until March 1, 2021 to make RRSPs contributions for 2020? Did you also know that over-contributing to RRSPs can result in penalties? This is a great time of year to check in with your accountant or financial advisor to see what your RRSP deduction limit is and if you could benefit from contributing now or are wise to hold off... Follow us every Tuesday for #TuesdayTaxTips

This #TuesdayTaxTips is for anyone who takes a wage from their company or who has employees: The filing deadline for some slips (including T4s for wages, T5s for dividends/draws) as well as other items such as WCB annual reporting is on the last day of February each year. However, T4s are going to look different this year, as there are new reporting requirements pertaining to the COVID government programs. Information can be found on CRA's website.... If you are looking for advice on how to report 2020 earnings on T4s, we would be happy to assist!

For those of us living in northern zones & who have a Box 32 for northern travel: Have you ever sat down with your accountant and struggled to remember if you took any trips to claim last year? Look at your social media to jog your memory! Oftentimes when we are advising clients at personal tax time they have forgotten about that long weekend in Jasper back in January. Social media can be a great tool to remind you of where you have been - and potentially help you out come ta...x time! Check out our social media every Tuesday for #TuesdayTaxTips