CONTACT US

Resources and articles

Blog

claim office expenses
Tax Preparation
Amanda

Claiming work from home expenses made easier

In response to the sheer volume of Canada’s workforce that moved from downtown offices into their homes; the government has introduced a simplified process for claiming work from home expenses.  Previously, to claim work from home expenses the requirement had to be included in the employment contract and a Conditions of Employment T2200 had to be completed annually by the employer.  The form was lengthy and many employers shied away

Read More »
December 28, 2020
Cash Flow
Finances
Amanda

Building Strong Cash Flow Now and Into the Future

Cash flow is one of the strongest indicators of the health of your business. It is a useful metric to quickly see how well you are doing, whether or not you are profitable, and how solidly your business can withstand storms. This holds especially true when the waves come crashing down, and the wind is whipping you back and forth with a frothing frenzy. This sounds kind of like the

Read More »
December 11, 2020

COVID-19 UPDATE – We are still here working for you!

Just like everyone we are concerned for our clients and employees health and well being while continuing to provide amazing support.  We are so fortunate that we are able to work virtually and our team has been able to set up at home ensuring that our clients needs continue to be met. We are open for business but are still primarily working from our home offices.    With precautions we can

Read More »
June 2, 2020
COVID-19 business services
Exploring the full potential
Amanda

Canada Emergency Wage Subsidy (CEWS) – Updated

**Updated** The Government announced this morning they have posted a spreadsheet to the CRA website to help calculate the Canada Emergency Wage Subsidy (CEWS) and that the portal will be live for applications on Monday April 27th.  In adding the spreadhsheet they’ve also fully updated the information page to help employers determine if they qualify and what employees qualify.  You can check it out here.  As we find out more

Read More »
April 21, 2020
COVID-19 business services
Exploring the full potential
Amanda

Canada Emergency Wage Subsidy (CEWS)

Changes have been announced to the Canada Emergency Wage Subsidy and the CRA has loaded more details onto their page (which you can read in full here).   In this article I will highlight the significant changes along with clearly outlining how it will work.  There are grey zones and we will continue to unpack this every changing environment and encourage you to call our office if you have specific questions.

Read More »
April 9, 2020
COVID-19 business services
Exploring the full potential
Amanda

Canada Emergency Response Benefit – Updated

  Canada Emergency Response Benefit (CERB) applications open on Monday April 6th.  There are still lots of questions and concerns so we’ve updated our initial post with new information. Who Qualifies for the Canada Emergency Response Benefit Our self-employed / business owning clients are of course extremely stressed about how they will continue if they’ve shut up shop.  Further our clients with employees are stressed and concerned about how their

Read More »
April 5, 2020
COVID-19 business services
Exploring the full potential
Amanda

Canada’s 75% Wage Subsidy – some details

We know that like us you’ve been waiting for some details about Canada’s 75% wage subsidy.  Here is what we know so far.  Here is a video of Finance Minister Bill Morneau answering some questions – our breakdown is below. What is it A wage subsidy of up to 75% of pre-crisis wage for your employees up to $847 weekly. Who Qualifies Businesses who have seen a 30% drop in

Read More »
April 1, 2020
COVID-19 business services
Exploring the full potential
Amanda

Canada Emergency Response Benefit

  This morning Justin Trudeau announced the new Canada Emergency Response Benefit to replace the earlier announced Emergency Care and Emergency Support Funds.  Due to the unprecedented level of applications and in order expedite Canadians getting money in their pockets this fund will pay Canadian’s $2000/mo for the next four months. Who Qualifies for the Canada Emergency Response Benefit Our self-employed / business owning clients are of course extremely stressed

Read More »
March 25, 2020
Tax preparation
Exploring the full potential
Amanda

Amanda’s Top 5 Tips for Working from Home

Before this week our team at It’s Your Time worked communally from our offices.  But with COVID-19 we felt it wise to have our staff move into their home offices so we could stay health and strong to support our clients and each other.  However, back in the early days of It’s Your Time, when it was just me, I worked from my home office every day.  While working from

Read More »
March 23, 2020
COVID-19 business services
In the News
Amanda

COVID-19 and Your Business

Our phones have been ringing all day with clients wanting to know what if any relief there is in sight for them as business owners during COVID-19.  Today Justin Trudeau announced an additional $82Billion to support Canadians and businesses.  This article breaks down the various programs and initiatives and how they will affect you or your business and how you can access them. Sick Leave If your employees need to

Read More »
March 18, 2020