A. Tettegah Professional Corporation Chartered Professional Accountant

There no way other around it

Another right of the Canadian taxpayer is the "right to have the law applied consistently". It means that the tax authorities take measures to consistent and fair to you by having a good system, training for their agents and publications that explain the hard to understand parts of the tax law. Each tax payer also need to do their part. As a tax professional we not only educate ourselves with the ever changing tax laws but we also sift through tax court cases to understand the outcome of each case and what to expect when working on our tax clients files. It doesn't mean there is no other way. It just mean that we need to know the court stand on similar cases. We do the hard work so you don't have to. If you need opinion or research on your particular situation please contact us today: www.tettegahcpa.ca 403 397 1405

Does a non resident corporation have to file corporate tax returns in Canada? Yes if at any time in the year, one or the following situations applies: it carried on business in Canada it had a taxable capital gain it disposed of taxable Canadian property, unless the disposition meets all the criteria... Whether you are an individual, a corporation a non resident or a citizen, knowing your tax obligations well in advance helps plan and take advantage of all the the deductions and benefits you are entitled to. Contact us if you have questions 403 397 1405 See more

The long awaited Canada Emergency Wage Subsidy (CEWS) is opening for application on monday April 27, 2020. If your Canadian business has been impacted by the Covid-19 but you are still employing staff, you may be eligible to apply for 75% wage subsidy. If you don't already have a CRA my account, you can create one. Check link below for qualification and other detail. https://www.canada.ca//services/subsidy/emergency-wage-sub

Should you file your own taxes or get a professional to prepare and file them? There is nothing wrong with that when your return is simple and you know what is allowed to claim and under what conditions. That's where the professional touch comes to play. As the software may not tell you for example if you are eligible to deduct home office, if you should deduct depreciation of your home, what medical expenses are deductible or what type of expenses qualify as moving expenses. Working with professionals helps you bridge the gap between the machine and your particular situation. If you still decide to prepare your taxes the link at least read the guides in the links below For both corporate and personal taxes. https://www.canada.ca//c/formspubs/pub/t4012/t4012-19e.pdf https://www.canada.ca//5000-g/income-tax-benefit-guide.html

If you work in the "sharing economy", the "gig economy" Peer to peer selling or Social media influencing (Uber, Skip the dishes, Door Dash, Youtube, Etsy, ...) you may not be getting T slips but you are still required to report your income. You may have to register for GST/HST and also claim expenses you incurred to earn the income. Whether you are preparing your taxes or using the help of a professional make sure to keep receipts and logs for mileage (total kilometers driven and total kilometers driven for business). The link below gives more information https://www.canada.ca//abo/compliance/sharing-economy.html

I don't know about you but I spot other stimulus after businesses are open. In his continued effort to support the economy the Canadian Government will likely try other means to make thing running. It can come in the form of rebates or other stimulus that combine private spending with the environment in mind. There may be a program to help you replace your old polluting car, environmental friendly home renovation, more hiring incentives, innovation, encourage made in Canada(i...f they dare to be bold!), renewable energy projects. One can see opportunity. This might be the a good time to upgrade skills while you are waiting for things to go back to "normal". It doesn't have to be traditional learning. There are a lot of online learning tools. There is going to be a lot of opportunities for those who are skilled. Once again the winners will be creative and on top of their game. Those who are ready to hit the ground running will keep winning. Ready, set, sharpen your tools! See more

As a Canadian resident business do you have to file corporate tax returns for your business? The short answer is: yes if you are incorporated unless you are a Crown corporations, Hutterite colonies, and corporations that were registered charities throughout the year. If the business is not incorporated its taxes are filed together with the owner's personal taxes. Even if the owner didn't use the corporation or make any money. Make sure you file all taxes since incorporation even if you have to close it. Reach out today if you need help filing your taxes, preparing financial statements, reliable management reports @ 403 937 1405

Whether we like it or not, this outbreak will bring lasting changes to our lives and businesses. So far we are feeling the heat from the virus itself. But soon the financial consequences will kick in harder. We are having a bad time but harder days are ahead. The only way to survive and thrive after the heat of it is to be able to keep the faith, keep evolving and adapting. No one knows how deep of a recession is ahead of us, but preparing will not do us any harm. If you haven't started implementing, what plans are you making?

As a member of the community and business owner, what are you doing to reassure your customers even when you are closed due to the pandemic? How are you letting them know they are still on your mind and will see you soon? As a business we appreciate all our clients and want you to know that we are hurting with you. We are all hurting and hope you are open and running very soon! If you are not a client, we are still rooting for you.

As a Canadian resident or citizen, you may be able to deduct moving expenses if: You moved within Canada. You moved from outside Canada to a new work location in Canada. You moved from Canada to a new work location outside Canada. You moved between 2 locations outside Canada.... The move doesn't have to be for a job. Acording to CRA;"If you moved to take courses as a student in full-time attendance enrolled in a post-secondary program at a university, college or other educational institution, you may qualify to deduct eligible moving expenses from the part of your scholarships, fellowships, bursaries, certain prizes, and research grants that is required to be included in your income. Be sure to save your receipts and let your tax preparer know. https://www.canada.ca//li/you-claim-moving-expenses-6.html See more

We all agree that your first right as a Canadian tax payer is: "... the right to receive entitlements and to pay no more and no less than what is required by law". Please check the link below to make yourself familiar with the Taxpayer Bill of Rights. https://www.canada.ca//taxpayer-bill-rights-guide-understa But we are not all taking advantage of deductions that will allow us to reduce our tax bill. Ask help from professional if you are in doubt.

You may be asked to form a corporation to apply or have a contract. But just because you have incorporated your business doesn't mean you can benefit from all the deductions available for businesses. You may still be considered like an employee for tax purpose. You may want to weigh the implications before proceeding. Check the "personal services business" paragraph on the link below. And contact us if you have question. https://www.canada.ca//t2-corporation-income-tax-guide-cha

Self isolation, I'm up for it; any day every day. Or so I thought until this pandemic. It's easier to excel on our own terms. But it becomes a struggle when we are forced to it. Same goes with compliance with taxes planning. Do it on your own terms planning well in advance and you get the full benefit as opposed to when you are making decisions after the fact. Talk to your tax professional BEFORE making the decision. After can be too late. We can be reached at 403 397 1405 or [email protected]

If you are primarily working from home you may qualify to claim your home office as business expense. It can be straight forward for renters. But if you live in your own house, proceed with caution not to have to pay tax when you sell the house. If you have a question please comment bellow or reach out at 403 497 1405. https://www.canada.ca//com/business-use-home-expenses.html

Hope you were able to relax and rewind. A new week to make things happen. It is a marathon. Not a sprint. And you don't have to run it alone. A good professional accountant (CPA) by your side can make a whole mile of a difference. Please reach out if you need help with anything accounting, tax and business consulting

I hope you are taking it easy today. But it's OK if you are you are working. Just remember to take some me time when you can. We want to ease your work load by helping with accounting, taxes or administrative work. Please reach out at 403 397 1405

As a business if you need your employees to work on a general holiday, that's still fine as long a you pay them accordingly. If the day was their regular day worked they'll receive their hours worked x hourly wage x 1.5+average daily wage. If it's not their regular day of work they'll receive their hours worked x hourly wage x 1.5. Check out the link below for more detail and give us a call if you have questions. https://www.alberta.ca/general-holidays-pay.aspx

DID YOU KNOW? it is Friday. Yes it's good Friday - a holiday. And it's OK to take a rest from it all. A bubble bath? Even wine? May help you unwind. Why don't you give the problems back to Murphy... for once? You only come back better. You are not alone and the sun will still rise tomorrow. Don't be too hard on yourself. If you are an "essential worker" and not working then remember to take a break next time you get a chance.

If you have applied for the Canada Emergency Response Benefit (CERB) and received 2 payments. It's likely that you are paid for the first 4 weeks (March 15 to April 11) and the following 4 weeks. The payments are retroactive so if you qualify back on March 11 when they starting the benefits, you'll still get the payment even if you applied on April 6. Application is still open so if you are born in July, August or September you can apply today!

Let's all do our part. That's the only way we can make it to the other side. What are you doing to make life better around you?

Crisis does not change us. It reveals us. Let your greatness out and shine. We are always up and ready to be part of your journey. Give us a call at 403 397 1405

Eligible Canadians can start applying for the awaited Canada Emergency Response Benefit (CERB) with CRA today. Applications are being accepted online through their CRA My Account or by phone @1-800-959-2019. Have your SIN and postal code ready. To better manage the applications, they ask that you apply based on your birth month. Link below for more information on eligibility and other details. https://www.canada.ca//benefi/apply-for-cerb-with-cra.html

There is always a good reason to celebrate a special day!

Are you growing through this pandemic or you are going through it? We want to grow through it with you! We are here to help for all accounting, tax and business needs. We help individuals and businesses. Reach out at 403 397 1405.

We are grateful for all workers who are putting their family and their own lives on the line for us. We appreciate all of you who are still working so we can self isolate. THANK YOU

If you are not eligible for EI and feeling overwhelmed with all the information about Covid-19 relief packages and how to apply you are not alone. This is like "war" time and our government is navigating at an usual speed. We are monitoring their publications to get you the information as we see them. More details on the way early next month they said. Stay tuned... https://www.canada.ca//additional-support-for-canadian-bus

This is an unprecedented hit to all of us. Don't waste this trying time. "Recycle your pain". This too shall pass. But what are you doing to rebound when things go back to "normal"?

The Government of Canada has just announced new emergency response. Please check the link below https://www.canada.ca//introduces-canada-emergency-respons

You probably know this by now but with this madness you need to be extra careful. Revenue Canada or Service Canada will not call to ask for your SIN or banking information. Make sure the websites you're using to apply are legit. Stay safe

The Government of Canada has announced some relief measures to support Canadian and businesses. Not much yet for the gig economy but it's still early... https://www.canada.ca//canadas-covid-19-economic-response-

TOGETHER. We will get through it. TOGETHER

The government of Canada has announced some measures to relieve businesses and business owners affected by the Covid-19. More information to come next week. What breaks are you hoping for?

How prepared is your business for emergency? Can your business continue if employees have to be quarantined? Is the Covid-19 making you review your plans? What changes are you making?

As a Canadian resident (for tax purpose), you may qualify to deduct moving expenses. Did you move in 40 km or more 2019 to take a new position or to go to school full time? What expenses did you pay for or became payable for your move?

Slow time for your business can be bad for the bottom line. But it can be as useful as the busy time. It can be used for learning, going back to the drawing board, customer relations, self love, ... What do you use your downturn for?

Home alone watching the news: "Don't panic. Just don't touch your face".