Canada Emergency Wage Subsidy – New Rules – July 5 Onwards
NOTE: the Government is proposing to extend the CEWS further until June 2021.
Canada Emergency Wage Subsidy (CEWS) has undergone major changes in July 2020....
U.S. Canada Cross Border Taxation for Canadian Businesses
It is not unusual for Canadian businesses to expand into the United States.
U.S. and Canada have two different tax systems and such a decision needs careful planning and...
Effects of Losing CCPC Status for Corporations in Canada
In Canada, there are different types of corporations for tax purposes.
Canadian Controlled Private Corporations (CCPC) enjoy lower income tax rates on corporate profits because...
Non-Deferrable Expenses Stream – CEBA
Almost a month ago, in May, the government announced expanded eligibility for Canada Emergency Business Account (CEBA). Previously, only the businesses with a minimum of...
Expanded CEBA Program for Small Businesses
The Government had rolled out its Canada Emergency Business Account (CEBA) to support small businesses due to pandemic. Since the start of the program there has been a much...
How to setup a corporation in Canada?
Wondering how to incorporate your business in Canada? Let’s find out the general steps involved to set up a corporation in Canada.
1. Decide if you need to incorporate your...
US Income Taxes for Canadian Businesses – Which Forms to File?
Canada is the second-largest trading partner of the United States. Both economies are interconnected and businesses on both sides of borders are subject to two-income tax rules...
How and When U.S. Taxes Canadian Businesses
U.S. Income tax is one of the most complex tax systems in the world. Being a global leader, many times international businesses get their income connected to the U.S. and they...
Notice to Reader Financial Statements
Is your bank requesting for financial statements?
You provided the financial statements, but now they are asking for a notice-to-reader attached to it!
In this post, we shall...
Principal Residence Exemption and Change of Use
Principal residence exemption allows a taxpayer to eliminate capital gains on the disposition (or deemed disposition) of his/her principal residence in Canada.
This post is...
TAM, SAM & SOM in Business Plans and Investor Pitch
Investor Pitch & Business Plans: Have you done TAM, SAM and SOM?
Need Capital but having a hard time convincing the investors? Did you do the TAM, SAM, and SOM right?...
Can I do back-filing of T4 and get CEBA Loan?
Canada Emergency Business Account (CEBA) is a loan program announced by the government of Canada to support small businesses in meeting their operational needs. You can find...