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Financial Help for Small Business Owners Due to COVID-19

Financial Help for Small Business Owners Due to COVID-19

The Canada Emergency Wage Subsidy (CEWS) The CEWS will cover 75% of an employee’s wages – up to $847 per week – for employers of all sizes and across all sectors who have suffered a drop in gross revenues of at least 15% in March, and 30% in April and May. The...
Personal Income Tax & Benefit Amounts for 2020

Personal Income Tax & Benefit Amounts for 2020

The Numbers Behind Your Personal Income Tax Personal income tax law can be complex and interpreted in a number of ways. That’s why it’s important to discuss your specific personal or business needs with your accountant. Not just at tax time! They can...
Padgett joins forces with Intuit QuickBooks Canada

Padgett joins forces with Intuit QuickBooks Canada

PADGETT BUSINESS SERVICES®, a leading source for small business tax, accounting, payroll and business advice, and Intuit Canada, makers of QuickBooks, Canada’s leading financial management software, have joined forces to create greater efficiencies in Padgett’s...
Taxes and Your Business Investment Loss

Taxes and Your Business Investment Loss

A loss on an investment in a company you own or made in another person’s small business can qualify for some advantageous tax breaks. This helps ease the impact on your finances for the year. Whether the investment was in shares or a loan to a small business, it may...
Accelerated Write-off of New Asset Purchases

Accelerated Write-off of New Asset Purchases

Tax Changes That Might Affect You Who doesn’t love a good business write-off? Did you purchase new assets after November 20, 2018? In the November 21, 2018 Fall Economic Statement, the federal government proposed three important and immediate changes to...
Principal Residence Exemption

Principal Residence Exemption

Did you sell your house in 2016 or later?  File a tax return and claim the principal residence tax exemption for the capital gains. Commencing with sales in the 2016 tax year, you must report basic information, such as the date of acquisition, the proceeds of...