If your small business has been hard-hit by the economic effects of COVID-19, you may be eligible for the Highly Affected Sectors Credit Availability Program (HASCAP).  HASCAP offers low-interest loans, of up to $1 million per entity, over an extended term to help manage business continuity expenses. Guaranteed Loan The Government of Canada has mandated […]

We are encouraging you to send us your personal tax information or corporate records electronically.   This guide will assist you through the process while ensuring your data is secure and well managed.  File Types:  We can accept pretty much any file types (PDF, jpeg, bmp, tiff, png, etc.) Image Quality:  Obviously, the better the quality, […]

“The Canada Recovery Caregiving Benefit (CRCB) gives income support to employed and self-employed individuals who are unable to work because they must care for their child under 12 years old or a family member who needs supervised care. This applies if their school, regular program or facility is closed or unavailable to them due to COVID-19, or […]

KWB Chartered Professional Accountants has a proactive plan for continued operation in this new environment.  You and our team are our first priority.  We want to inform you of what changes we have made, so we can continue to complete the work you need us to do, while protecting both you and the members of […]

There are many apps that can be integrated into your Quickbooks Online software in order to provide extra value and Dryrun is one of them. Forecast cash flow and sales Dryrun was created right here in Edmonton and is a forecasting tool that will assist you in making better decisions about your business.  You can […]

If you are starting a new business in Canada or are operating one already, then this article is for you. Types of business structures The type of structure you choose has a significant effect on the way you report your income, the type of returns you file each year, and many other matters. The three […]

If you have sold your home and it is your principal residence then you should be able to use the principal residence exemption to reduce or eliminate any capital gain for income tax purposes on the sale of the property. CRA states that a principal residence can be a house, cottage, condominium, apartment, trailer, mobile […]

An RESP is an education savings account that is registered with the Government of Canada that helps you save for a child’s or grandchild’s post-secondary education. With an RESP, you may be able to receive other saving incentives, such as the: Canada Learning Bond Basic and Additional Canada Education Savings Grant There are two different types […]

What’s the difference between eligible and non-eligible dividends?  What are the implications to you? Dividends are payments made to shareholders to allocate the earnings of a corporation.   There are two types of taxable dividends that a corporation can issue, non-eligible and eligible. non-eligible dividends are taxed at approximately 10% more than an eligible dividend Non-eligible […]

Terrible devastation caused by flooding or fires is a potent reminder that one should not delay planning for disasters in advance. Learn how to approach designing your own Disaster Recovery Plan (DRP).

Are you a US citizen? Do you spend more than 120 days per year in the US? If so you may be required to file a US personal tax return.

What if you knew the impact of an important decision before you made it? Could you and your business benefit from this “what if” strategic planning? You would be able to look at the potential outcome and financial impact of business decisions before they are made. At KWB we use software called Profit Driver to […]

If one of your New Year’s resolutions was to save more money, then the Tax-Free Savings Account (TFSA) may be a good option for you to use. Learn more about the TFSA rules and limits.

RRSP’s can be a simple concept but they are also governed by some complex rules. Learn more about how your annual contribution limits are calculated and what to do if you have over contributed.

On July 31, 2015 legislation in Alberta came into effect that will govern all professional accountants under one organization and one brand:  Chartered Professional Accountants or CPA for short. Prior to this change, you would have found Chartered Accountants (CA’s), Certified Management Accountants (CMA’s) and Certified General Accountants (CGA’s) all practicing in Alberta.  Although this […]

Beginning in July of 2014, Canadian financial institutions will be required to start gathering and reporting information on accounts held by U.S. residents and U.S. citizens, including those who are resident of Canada. The account information will be collected and reported to the Canada Revenue Agency (CRA), who will then transfer the information to the […]

Do you know someone who has lost critical and precious information that was stored on their computer? Are there things on your computer that you don’t want to lose such as financial or business records or personal information like family photos? We live in a digital world and we don’t have hard copies of anything […]

We would like to remind our clients that for the majority of Canadians, your personal income tax returns normally need to be filed by April 30. If you haven’t already brought us the information we need to prepare your return, we would ask you to do so shortly. CRA has extended the filing and payment […]

Are you interested in what is happening with interest rates in the U.S.? Here is a quick and easy to understand summary.

I recently read an excellent article about a rare economic occurrence that was happening this past June. To help you find out more about this rare economic occurrence, here is the full article prepared by Wealth Stewards Portfolio Management Inc. (WSPM)

What is the value of advice? When it comes to portfolio management, the overall value of the advice can be measured by comparing the performance of one portfolio over another in a specific amount of time. However, when it comes to wealth management, the overall value of the advice discussed regularly with clients is much more difficult to measure. Read on to see some real life examples of the value of the advice given.