Performance Driven Business Solutions Ltd.
5-340 Henry Street N3S 7V9 Brantford, ON, Canada

Did you know? The Canada Emergency Business Account (CEBA) loan forgivable portion of up to $20K is taxable in the year it's received. If you received the $40K in 2020, the $10K forgivable amount is taxable in 2020. If you also received the additional $20K the $10k forgivable portion will be taxable as well. There are some ways you can reduce this amount claimed but it requires elections to be filed. ... If you have received this loan please contact us to discuss your situation at (519) 512-0483. https://ceba-cuec.ca/

The Deutsche Bank feels that work from home (WFH) employees should be taxed for this privilege. https://financialpost.com//remote-workers-should-be-taxed- However, the CRA has extended the WFH (Employment Expenses Deduction) to include the purchase of computer and other office equipment. ... https://financialpost.com//cra-extends-work-from-home-reim What are your opinions on these two different thoughts? If you are working from home this year and you need to discuss your tax circumstances please contact us! We are able to help with in person or remote solutions using Zoom and our secure portal to assist clients anywhere in Canada.

Asking yourself what happens if you don't file your taxes on time? If you have a refund, it's not a significant issue, however the CRA will not pay you interest. If you file late with a balance owing, you'll be charged penalties and interest. Bring your tax information to us early to avoid those costly penalties.... Call us at 519-512-0483 or email us at [email protected] to discuss your situation.

We can help organize your receipts and prepare your return. Contact us today.

Did you know the CRA has increased the amount you can claim under the simplified method for meals? This affects people in the transportation industry such as long haul truck drivers as well as people who claim meals for moving, medical and employment purposes. See the link below for further details or contact our tax professionals for further consultation at 519-512-0483 https://www.canada.ca//canada-revenue-agency-increases-fla

The tax deadline is just around the corner. Contact us today. 519-512-0483 or [email protected]

The staff at Performance Driven hope everyone is staying safe and making lots of new memories this Easter, while we look back on some of ours.

Wishing everyone a Happy Easter, filled with hope, love and happiness.

There are many ways to share your tax burden with others in your family. Contact us today to find out what works best for your scenario. Call us at 519-512-0483 or email us at [email protected].