KWB Blog

The latest financial news and accounting tips from KWB.

Apr 6 2021
A Grant Program for Every Stage of Business

Jobber, a cloud based workflow solution software, ideally suited for home service businesses, is inviting business owners to apply for one of 20 Grants that they are offering. Jobber recently launched their $100,000 Grant Program which aims to provide much needed relief to business owners like you! You may need new equipment, a new employee, […]

Mar 18 2021
Introducing ONSight Advisory Services Powered by KWB

We’re thrilled to announce the launch of ONSight Advisory, KWB’s new expanded services to support the needs and goals of entrepreneurs and small business owners. We’re offering expert advice and guidance to improve business performance while simplifying your accounting experience. Our advisors will provide insight and accountability to help you grow and operate your business […]

Mar 10 2021
Find COVID-19 Benefits for Your Business

If you are unsure of which COVID-19 benefits are available for your business, CRA has a webpage that will will help you figure it out. In order to narrow your search, you will be asked the following questions on their webpage: Type of support you are looking for (e.g. support due to the effect of […]

Mar 4 2021
Highly Affected Sectors Credit Availability Program (HASCAP)

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 […]

Mar 2 2021
CRA Offers Interest Relief on COVID Benefits

The Canada Revenue Agency (CRA) recently announced that they are offering relief on the interest charged on certain COVID benefits.  Who is Eligible? You need to check ALL of the following criteria in order to be eligible: Your total 2020 taxable income was $75,000 or less You received at least one of the following COVID-19 […]

Feb 24 2021
Changes to Employer-Provided Benefits and Allowances

Canada Revenue Agency (CRA) has made changes to taxable benefits for employment conditions such as working from home, commuting, meal costs, etc.  These changes are valid for the period between March 15 2020 and December 31 2020. If you’re an employer, take note of these important changes: Commuting Costs If you pay for, reimburse, or […]

Feb 23 2021
Certain COVID-19 Benefits are Being Extended

Due to the continued effect of COVID-19 on jobs and businesses, the following benefits are being extended: Canada Recovery Benefit (CRB) – extended by 12 weeks, from 26 weeks to up to 38 weeks Canada Recovery Caregiving Benefit (CRCB) – extended by 12 weeks, from 26 weeks to up to 38 weeks Canada Recovery Sickness […]

Feb 18 2021
New Critical Worker Benefit for Albertans

The Critical Worker Benefit will bring much needed relief to eligible workers across the province, providing a one-time payment of $1,200 to eligible critical care workers in recognition of their hard work to provide Albertans with the care and services they need. Applications for the private sector will open on Wednesday, February 17, 2021 and […]

Feb 17 2021
Best Practices for Submitting Documents Electronically

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, […]

Feb 12 2021
Records of Employment: Everything you need to know

This past year we have been asked many questions about completing a Record of Employment (ROE) form.  Here are helpful answers to the most common of those questions based on information from the Canadian Payroll Association: Q:  If an employee’s hours are reduced, is that considered an interruption of earnings? A:  A reduction of working […]

Feb 10 2021
T4 Reporting

Here’s some of the changes to T4 reporting for 2020 required by the Canada Revenue Agency (CRA). “Other Information” Codes Four new codes have been introduced to the “Other Information” portion of your T4 slip. In addition to reporting employment income, all employers that paid employment income to employees on dates between March 15 and […]

Feb 8 2021
T2200 Forms and COVID-19

A T2200 form is typically only filed with the Canada Revenue Agency (CRA) when an employee’s work situation requires them to pay for work-related expenses, or when an employee can, within reason, expect to claim work-related expenses as deductions on their tax return. As a result of the COVID-19 pandemic many people are working from […]

Jan 29 2021
Help Manage Stress by Using Technology

As a business owner, you have likely experienced stress and anxiety during the past year.  In order to run your business successfully, you need to ensure that your health and wellness takes priority in your life. When you travel on a plane, the announcer tells you that in case of an emergency, you need to […]

Jan 27 2021
Tax Due on COVID-19 Government Assistance Programs for Individuals

With tax season just around the corner, you may be concerned about the impact various government assistance programs may have on your tax return. We have broken it down for you so that there are no surprises when completing your tax return. CERB These payments did not have tax deducted from them and will need […]

Jan 25 2021
Canada Summer Jobs (CSJ) Program

The Canada Summer Jobs Program can cover up to 75% of your wages. If you are planning to hire between April 26th and February 26, 2022 and want to take advantage of the Canada Summer Jobs benefit, you have until Friday, January 29th to submit your application. Create a better future for Canadian youth The […]

Jan 14 2021
The CRA may owe you money

Most of us daydream about receiving a surprise notification that we have suddenly received some unexpected money Although it may not qualify as a windfall, there is a chance that the CRA (Canada Revenue Agency) may owe you some money. There is approximately $1 billion in uncashed refunds from the CRA in Canada.  You may […]

Jan 8 2021
Introducing Cash Flow Planner from QuickBooks Online

One of the reasons we really like and recommend QuickBooks Online (QBO) is that like us, Intuit is always looking for new ways to help business owners improve their business. QuickBooks Online has made managing your business cash flow easier with their new Cash Flow Planner feature, helping you save time working IN your business […]

Jan 4 2021
EDC Business Credit Availability Program (BCAP) Guarantee for Canadian Businesses

One of our goals this year is to show you how having control over your business cash flow will help you to reach your cash flow goals sooner. Cash flow should always be a priority for your business, but what if your business has been severely impacted by COVID-19? The good news is that you […]

Dec 18 2020
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. […]

Dec 14 2020
Every Success Story Starts With a Dream

If I asked you what you love the most about living in Canada, what would your response be?  Would it be our culturally diverse society?  Our beautiful mountains and lakes?  Our wildlife?  Our talented sports people? There are many reasons we love being Canadian but how many would respond “to be self dependent and to […]

Dec 8 2020

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 […]

Dec 4 2020
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 […]

Nov 24 2020
Canada Emergency Rent Subsidy (CERS) Brings Relief to Small Business Owners

The new rent subsidy for businesses will bring welcome relief for many of our business clients affected by COVID-19. Canadian businesses, non-profit organizations, or charities who have seen a drop in revenue due to COVID-19 may be eligible for a subsidy to cover part of their commercial rent or property expenses.  Claims can be backdated […]

Nov 17 2020
4 Reasons Why Your HVAC Business Needs Jobber

At KWB, we are passionate about QuickBooks Online (QBO) and the apps that integrate with it.  We are equally passionate about treating you as a business partner by sharing valuable information, advice, and technology If you own an HVAC business, we know from experience that QBO and the Jobber app will help you streamline your […]

Oct 29 2020
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 […]