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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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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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FBC Member Spotlight: Duke Sewer Service Inc.

Oct 25, 2019
By the time Matthew Clayton was 25 years old, he was self-employed as a rental property owner and owned up to 20 houses in Regina, Sask. He already possessed the entrepreneurial spirit and work ethic that would help him start and run the successful company he still owns today - Duke Sewer Service Inc.

Tags: Small Business Taxes, Trades Taxes

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 Home Style Electric

FBC Member Spotlight: Home Style Electric

Oct 23, 2019
In 2008, Jamie Myatt was working in the oil patch as an electrician when the economy took a downturn. When he came back home to Dartmouth, he found a job as a journeyman for a local company. But it wasn’t long before he felt unfulfilled in his role and decided to make the leap into running his own business. He launched Home Style Electric in 2009 on a shoestring budget.

Tags: Small Business Taxes, Trades Taxes

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FBC Member Spotlight: Ace of Spades Landscaping

Oct 18, 2019
For more than a decade, Marty Hammond worked for landscaping companies in Niagara Falls before deciding to strike out on his own. He wanted to provide superior service to customers and focus on quality over quantity. So in 2009 he took the leap and started his own company, Ace of Spades Landscaping.

Tags: Small Business Taxes, Trades Taxes

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How to keep a CRA mileage log for vehicle expenses

Sep 13, 2019
If you’re self-employed and using your vehicle for business use, are you keeping a mileage log? If you’re audited by the Canada Revenue Agency (CRA), and you don’t have one, the CRA could reject your claims for motor vehicle expenses. Avoid CRA scrutiny with our tips and tricks on keeping a mileage log.

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

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Business owner looking at laptop

How to find the industry code for your tax return

May 22, 2019
If you’re self-employed, you'll need to include an industry code on your tax return. Find out what it is and where to find it.

Tags: Financial Planning, Small Business Taxes, Tax Preparation

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"Many people take no care of their money till they come nearly to the end of it, and others do just the same with their time." — Johann Wolfgang von Goethe