a person is calculating salary vs dividends

Salary or dividends: Which one is right for me?

Nov 14, 2019
Choosing to pay yourself a salary or dividends will depend on your personal and business needs. Find out the differences and what each option could mean for you when deciding how to structure your compensation.

Tags: Farm Taxes, Small Business Taxes, Tax Consultation, Tax Planning, Tax Preparation

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The tax implications of selling your business

Nov 08, 2019
Selling your business to a family member has significant tax implications. Find out how an arm's length deal and a non-arm's-length deal are treated by the CRA.

Tags: Farm Taxes, Small Business Taxes, Tax Consultation, Tax Planning, Tax Preparation, Trades Taxes

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FBC Reviews

Nov 06, 2019
We love hearing from farmers and small business owners on what they like about being a FBC Member. Read some of our favourite FBC reviews.

Tags: Bookkeeping, Farm Taxes, Financial Planning, Small Business Taxes, Tax Consultation, Tax Planning, Tax Preparation, Trades Taxes

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a man in a wheelchair is writing at a desk

Understanding the Registered Disability Savings Plan

Oct 30, 2019
Do you have a disability or a child with a disability? Are you worried about saving for retirement? Then you should open a Registered Disability Savings Plan (RDSP) to help you start building long-term savings.

Tags: Farm Taxes, Financial Planning, Small Business Taxes, Tax Consultation, Tax Planning, Tax Preparation, Trades Taxes

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Alberta budget report 2019

Oct 28, 2019
On Oct. 24, 2019, Alberta Finance Minister Travis Toews presented the province’s fiscal 2019–20 budget. Our tax analysts have reviewed the updates and listed the highlights.

Tags: Farm Taxes, Small Business Taxes, Tax Consultation, Tax Planning, Tax Preparation, Trades Taxes

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What are the tax implications of the Liberal win?

Oct 25, 2019

Justin Trudeau’s Liberal Party is back in power, but as a minority government this time after the general election on Oct. 21, 2019.

The Liberals proposed several changes in their election platform that could have tax implications for small business owners and farmers.

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What is the RESP and how does it work?

Oct 11, 2019
Are you worried about saving for your child’s education after high school? Learn more about the RESP and how you can start saving now for your children's future, and get a boost from the Canadian government.

Tags: Financial Planning, Tax Consultation, Tax Planning, Tax Preparation

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Why farm succession planning is so important

Sep 30, 2019
Having an estate plan that includes a Will is critical to having your assets distributed as you wished through the hands of your chosen executor after your death. Without a Will, the courts may appoint someone to liquidate or distribute your assets in a manner you might never have intended.

Tags: Farm Risk Management, Farm Taxes, Financial Planning, Tax Consultation, Tax Planning, Tax Preparation

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FBC Reviews from farm & small business owners

Sep 26, 2019
If you want to read more about why our Members love our year-round, personalized, all-in-one solution for their farm or small business, here are some of our favourite reviews.

Tags: Farm Taxes, Financial Planning, Small Business Taxes, Tax Consultation, Tax Planning, tax representation

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What to look for on your Notice of Assessment

Jul 18, 2019
After you file your tax return, you’ll be issued a Notice of Assessment (NOA) from the Canada Revenue Agency (CRA). We provide some tips on what to look for when you receive your NOA, common reasons for discrepancies between your NOA and tax return and how to handle them.

Tags: Audit Representation, Farm Taxes, Financial Planning, Legal & Compliance, Small Business Taxes, Tax Consultation, Tax Planning , Tax Preparation

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"You must gain control over your money or the lack of it will forever control you." — Dave Ramsey