KWB Blog

The latest financial news and accounting tips from KWB.

Sep 25 2020
Reminder – CRA Extended Filing and Payment Deadlines

Filing and payment deadlines have been extended to September 30, 2020 The Canada Revenue Agency (CRA) announced earlier this year that they would extend payment due dates for 2019 individual […]

Jul 14 2020
8 Tax Saving Tips

Here are 8 great tax saving tips: Tax Savings Tip #1: Keep complete records Be diligent about your record keeping to avoid lost receipts that can mean missing out on […]

Mar 24 2020
Support for Employers – New Supports Announced 23/03/2020

Corporate income tax changes Corporate income tax balances and instalment payments will be deferred from March 19 until August 31, 2020 to increase employers’ access to cash so they can […]

Mar 24 2020
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 […]

Mar 20 2020
Support for Albertans – COVID-19

The Alberta government will provide immediate financial relief to Alberta’s families and vulnerable populations. Albertans should be focused on their health and not worry about whether they can pay their […]

Mar 20 2020
Tax News and Changes – COVID-19

The Prime Minister and the Minister of Finance announced on March 18th an economic relief package to begin addressing the economic impacts of the COVID-19 pandemic. Part of the economic […]

Mar 20 2020
Resources for Canadian Businesses – COVID-19

Small and medium-sized businesses are the backbone of the Canadian economy. During this extraordinary time, the Government of Canada is taking strong action to help Canadian businesses as COVID-19 is […]

Mar 19 2020
To our valued clients and business partners – a KWB announcement

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 […]

Feb 28 2020
3 Best Practices – Achieving Organic Sales Growth

Most business owners would probably agree that, when it comes to sales, there’s always room for improvement. To this end, every company should strive for organic sales growth — that is, increases […]

Feb 10 2020
Tax Changes for 2020

The Canadian Revenue Agency recently made some tax changes that may affect you and your business in 2020. ANNUAL INFLATION ADJUSTMENT Each year, most (but not all) income tax and […]

Jan 14 2020
5 Things to Consider When Filing Your Tax Return

Here’s a list of some things to avoid when filing your tax return. Follow these tips; they could save you time and money! Filing an income tax and benefit return […]

Sep 24 2019
Receipt Bank

If you would like to spend less time organizing your records and more time growing your business, you should automate your document retention with Receipt Bank. Receipt Bank is a […]

Jul 23 2019
EI for the self-employed

An advantage to being self-employed is that you don’t pay into Employment Insurance (EI) like employees do. However, a program was introduced in 2010 which allows self-employed individuals to opt […]

Jul 2 2019
New Business Guide for setting up your business

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 […]

Jun 18 2019
Principal Residence Exemption

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 […]

Jun 4 2019
CPP Rate

Beginning in 2019, the CPP rate will be gradually enhanced. This means you will receive higher benefits in exchange for making higher contributions. The Canada Pension Plan (CPP) enhancement will […]

Apr 9 2019
Medical Expenses including Attendant Care

A taxpayer can claim medical expenses paid for themselves as well as for their spouse, common-law partner and dependents.  A dependent can include; the taxpayer or their spouse/common law partner’s child […]

Feb 12 2019
Direct Beneficiary Designation – RRSP or RRIF

If you are considering a direct beneficiary designation for either a Registered Retirement Savings Plan (RRSP) or a Registered Retirement Income Fund (RRIF), you should be aware of some negative […]

Nov 20 2018
Work in Progress

If you have a professional corporation then the new work in progress tax rules will likely affect you! Professional corporations are typically set up and used by accountants, lawyers, dentists, […]

Nov 6 2018
Audit Shield

Being audited is a difficult experience that can be both scary and costly. When being audited the professional and legal fees can amount to thousands of dollars quickly, so we […]

Oct 23 2018
The Secret to Fitting a Healthy Lifestyle into your Busy World-Part 2

Part 2 of an article on Healthy Lifestyles. See Part 1 posted on October 16th. Strategic Step #2: Automate & Re-Engineer Your Environment We are creatures of habit. Did you […]

Sep 18 2018
Wagepoint

Wagepoint is an online payroll software that will meet all of your payroll needs. Wagepoint Features: Direct deposit CRA/WCB remittances T4 and T4A preparation Statutory Holiday calculations Record of employment […]

Jun 26 2018
TFSA

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.

Jun 19 2018
Impact of late filing your corporate tax return

If you are late filing your corporate tax return by more than three years, any overpayment is considered statute barred under the Canadian Income Tax Act (Section 164(1)). This means […]

Apr 18 2018
2017 Tax Filing Deadline and KWB office hours

We would like to remind you that for the majority of Canadians, your personal income tax returns should be filed by April 30. It is our desire and intention to […]