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

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.

You are required by law to keep receipts or other vouchers when you purchase something for your farm business.

Keep your records for at least six years after your last Notice of Assessment, which is as far back as the CRA will ask to see them in case you are audited.

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a person typing on a laptop with the text FBC reviews

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.

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new year's fireworks

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.

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couple looking at a phone and discussing canada pension plan benefits

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.

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a stack of gold coins that represents converting RRSP to RRIF

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

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a person is calculating salary vs dividends

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.

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a man selling his small business shakes someone's hand

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.

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A sign that says FBC Reviews on it

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.

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a man in a wheelchair is writing at a desk

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.

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a notebook that says "budget 2019" on it

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.

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