December 2020 – Updates to the Small and Medium Enterprise Relaunch Grant
If you applied for the Canada Emergency Wage Subsidy (CEWS) in April or May, you could receive additional funding from the Small and Medium Enterprise Relaunch Grant. At KWB, our goal is to assist you in receiving as much relevant information as possible during these uncertain times and obtaining the maximum funding for your business. Overview […]
Canada Emergency Business Account (CEBA) Loan – Additional $20,000 for Small Businesses
Starting on Friday, December 4, 2020, eligible businesses facing financial hardship as a result of the COVID-19 pandemic are able to access a second CEBA loan of up to $20,000 – on top of the initial $40,000 that was available to small businesses. Half of this additional financing, up to $10,000, will be forgivable if the loan […]
Alberta Fire Code Occupant Load
On Site Fire Protection recently contacted us to inform us of the new occupant load restrictions due to the COVID pandemic. We believe that many of you will benefit from the information. So what does “Occupant Load” mean? Occupant Load is the maximum number of persons that may occupy a building or an area of a […]
Tracking Your Mileage
If your business involves any driving, you should be tracking your mileage by using a mileage tracker like Triplog. If you’re thinking that you’re already drowning in paperwork and don’t have time to track your miles, consider this: If you’re not tracking your mileage, you’re leaving your money on the road, cash that you could use to reinvest […]
Save Money with a Health Services Plan
How can you save $100’s and maybe $1,000’s in taxes in one simple step with a Private Health Services Plan? Are you an employee of your own company and do you have significant medical and dental expenses each year of $2,000 or more not covered by a health plan? Then creating a “Private Health Services […]
Year End Tax Tips
Review our year end tax tips to discover a number of perfectly valid actions you may still be able to take before the end of the year to cut your taxes and to optimize your wealth management planning. As tax planning specialists, we can help you decide exactly what to do, when to do it, […]
Spousal Loan – Tax Savings Opportunity
If you are in a much higher income tax bracket then your spouse and have investments outside of an RRSP or TFSA then a spousal loan could reduce your taxes. Money that is earned directly by you through employment or investing is considered yours and can’t just be given to your spouse to invest. That […]
Vehicle ownership
We are often asked, “Should I own my vehicle in my company or personally?” The following facts can help us determine the answer to the question of vehicle ownership: 1) How many kms will you drive it for business purposes? 2) How many kms will you drive it for personal purposes? 3) What is the […]
Structuring the legal ownership of your home
What’s the best strategy for structuring the legal ownership of your home? The answer is…it depends. Are you asking for tax planning purposes or for estate planning purposes? Often you may be advised that it’s important for you to have the title of your home shared with somebody else so that if something were to […]
Online tools from the CRA and Service Canada
Here are some great tools on the CRA website to help in day to day activities that I personally use. 1) Payroll Deduction Online Calculator Use the Payroll Deductions Online Calculator (PDOC) to calculate federal, provincial (except for Quebec), and territorial payroll deductions. It will confirm or allow you to calculate the deductions you include on […]