What is the Canada Emergency Business Account?
The new Canada Emergency Business Account will provide interest-free loans of up to $40,000 to small businesses and not-for-profits, to help cover their operating costs during a period where their revenues have been temporarily reduced. To qualify, these organizations will need to demonstrate they paid between $50,000 to $1 million in total payroll in 2019. […]
Outstanding Shareholder Loan
It is very common for owner-managers to draw funds from their company during the year and find themselves with an outstanding shareholder loan at year end. These balances are often cleared up by recording dividends or bonuses to the shareholders and the problem is solved. If the loan is not repaid during the fiscal year […]