Dec 2020 Newsletter
An Important Message about CERB
Canada Emergency Response Benefit (CERB) payments are taxable. If you collected CERB payments, it is likely that you will owe taxes for 2020. Plan ahead! Set aside funds now so that you can pay any taxes owing on time and stress free.
T4’s & T5’s
T4's & T5's must be filed by February 28, 2021. Please send all of your payroll information to us no later than January 15, 2021.
Canada’s COVID-19 Economic Response Plan
The Government of Canada has created a number of programs designed to support Canadian businesses during this time. We have helped numerous clients apply for the programs listed below. If you have not already applied and you would like to, contact us today!
CEBA- Canada Emergency Business Account is for businesses affected by a shutdown in order to help finance expenses that cannot be avoided or deferred. The application deadline for this $40,000 loan is December 31, 2020.
CEWS- Canada Emergency Wage Subsidy is for employers who have seen a drop in revenue and require assistance in covering part of their employee wages, retroactive to March 15. The subsidy is also meant to re-hire workers and help prevent further job losses.
CERS- Canada Emergency Rent Subsidy is for businesses who have seen a drop in revenue and require assistance in covering part of their commercial rent or property expenses. Applications are now open.
Did You Know That We Offer…
Online Payroll
We offer affordable direct deposit solutions for your business. With our cloud based applications, you can access payroll information from anywhere, and employees can easily view their pay stubs. Call us to get started on a transition plan!
Online Bill Payments
Our online bill payment applications allow you to pay multiple expenses and suppliers at once. Plus these applications sync with your accounting software which makes reconciling your accounts a breeze. Let us help simply your life!
Medical Expense Summary
January is the perfect time to ask your health care providers for a print out of your 2020 expenses. Medical expenses are tax deductible so hang on to them for tax time.