Blog | FBC, Canada's Farm & Small Business Tax Specialist
How to Create a Succession Plan for Your Small Business

How to Create a Succession Plan for Your Small Business

Aug 08, 2018
For those exiting a business, succession planning helps build value, provide financial security, maximize tax strategies and minimize taxes paid.

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Finance Purchase of Equipment: Lease or Buy

To Lease or Not To Lease

Jul 18, 2018
Should you lease or buy when faced with purchasing new equipment for your farm or small business? The two most common options are borrowing funds to buy the equipment or leasing equipment from the supplier or through a third party.


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Taxes and Recreational Cannabis in Canada

Taxes and Recreational Cannabis in Canada

Jul 04, 2018
The currently-illegal, yet lucrative cash crop, cannabis, will become legal in Canada as of Oct. 17. There will be measures put in place to regulate distribution and ensure appropriate duties and taxes are paid.

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Passive Income for Private Corporations

Tax Increases in 2018 Affect Passive Income for Private Corporations

May 30, 2018
Investment income, also known as passive income, is being targeted in a big way. Passive income generally is defined as anything non-active, such as interest, dividends, rental and royalty income and capital gains and it appears the government is taking a two-step approach to managing it.

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Top Reasons Why Good Business Records Benefit Your Farm

How to Maintain Good Farm Business Records

May 16, 2018
Accurate farm business records make it easier to prepare taxes. A good bookkeeping system helps identifies the farm’s strengths, helps the business grow, and makes it easier to apply for a loan.

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Cash Accounting for Farmers

Cash Accounting for Farmers

May 02, 2018

Farm businesses have special status under certain provisions of the Canadian Income Tax Act (ITA).

Along with fishing operations, farmers can use the cash method of accounting (or cash accounting) for reporting income for income tax purposes.

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Tax Management Strategies for Farm Operators

Tax Management Strategies for Farm Operators

Apr 25, 2018
Effective tax management strategies for farmers means not scrambling at the end of the year for ways to reduce or defer tax bills.

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Maintaining Minute Books Are a Legal Necessity for Incorporated Canadian Businesses

Why Maintaining Minute Books Are a Legal Necessity for Incorporated Canadian Businesses

Apr 18, 2018
Keeping a Minute Book is a legal requirement for all Canadian corporations. Maintaining a Minute Book can make a business more efficient and result in paying less tax.

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Saskatchewan Budget Report 2018

Saskatchewan Budget Report 2018

Apr 11, 2018
On April 10, 2018, Finance Minister Donna Harpauer delivered her first budget as Finance Minister. The Finance Minister pointed to the province’s continued shift away from a reliance on natural resource revenue as a positive sign for the economy: Natural resource revenue is projected to make up 10% — or $1.48 billion — of what the province brings in.

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Trans Pacific Partnership is Signed!

Trans Pacific Partnership is Signed!

Mar 26, 2018
The Comprehensive & Progressive Trans-Pacific Partnership (CPTPP) agreement (formerly the 11-member Trans-Pacific Partnership agreement, or TPP-11) was signed by its member states, including Canada, on 8 March 2018. The agreement covers a market of 495 million people with a combined GDP of CAD$13.5 trillion, or nearly 13.5% of global GDP.

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