Blog | FBC, Canada's Farm & Small Business Tax Specialist

a man researches farm tax deductions on his cellphone while standing in front of a tractor

Tax deductions for Canadian farmers

Jan 15, 2020

If you’re a farmer or agricultural producer, you can deduct certain expenses you incurred to earn your income.

Make sure you keep records of all your farm business transactions to be able to support your expense claims.

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

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FBC Reviews: January 2020

Jan 01, 2020

We’re honoured when we get feedback from small business owners and farmers on what they like about FBC’s year-round Membership model. Here are some of our favourite recent FBC reviews collected through Rocket Referrals.

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

8 New Year's resolutions for small businesses

Dec 23, 2019

The end of the year is the perfect time to reflect on your business and make plans for 2020. We’ve listed some ideas on New Year’s resolutions you can make if you’re self-employed or own a small business.

Tags: Small Business Taxes, Tax Consultation, Tax Planning, tax develo

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Should I take my Canada Pension Plan benefits early?

Dec 16, 2019

Find out if you should start collecting your Canada Pension Plan benefits as early as one month after you turn 60 or as late as age 70.

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

small business owner examines receipts for tax deductions

Top small business tax deductions

Dec 09, 2019

If you’re self-employed or a small business owner, you know how quickly business expenses can add up.

Luckily, there are plenty of tax deductions you can take advantage of to lower your taxes.

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

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FBC Reviews: December 2019

Dec 02, 2019

Read our favourite reviews from farmers and small business owners. They tell us what they love about being a FBC Member.

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

a stack of gold coins that represents converting RRSP to RRIF

Converting an RRSP to an RRIF

Nov 26, 2019

Find out when you must convert your RRSP to an RRIF, and how to reduce your tax liability.

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

someone taking out their credit card to make instalment payments

Do I have to make tax instalment payments?

Nov 18, 2019

If you earn income that doesn’t have tax withheld on it, like self-employment, rental or investment income, or you made a capital gain in the past year, you might have to make instalment payments.

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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

a man selling his small business shakes someone's hand

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.