NORTH VANCOUVER, BC, CANADA – APR 07, 2020: A closed off playground in a North Vancouver public park lined with caution tape to aid in curbing the spread of the Covid 19 virus
NORTH VANCOUVER, BC, CANADA – APR 07, 2020: A closed off playground in a North Vancouver public park lined with caution tape to aid in curbing the spread of the Covid 19 virus
We have our bookkeeping systems for you so you can focus on running your business.
During Pandemic?
You can hire us to look after your bookkeeping so that you can qualify for the Emergency Response Funding. We make sure you claim all the expenses in reporting your income.
We can give your direction in applying for the various fundings available to business in Canada.
Let you know we arrange a meeting in person to collect the paperwork, we do the SORTING.
What is the CEBA?
A Canadian Emergency Business Account, if you are a registered small business with a business bank account, was opened before March 1, 2020. You can apply for a tax-free loan $40,000, due to the reduced total sales if payroll is between $20,000 to $150,000.
If you are using the funds for operating costs, payroll, rent, utilities, insurance, property tax, and regularly scheduled debt services.
No, allowance for expenses repayment/refinancing of existing indebtedness, payments of eligible dividends, distributions, and increases in management compensation.
No, payments are applied to this loan until next year, to qualify for the 25% forgiveness it must be paid by December 31, 2022, you can keep up to $10,000.
If you are under $20,000 in 2108, 2019, can you apply if your non-defferable expenses between $40,000 and $1,500,000.
What about Payroll Subsidies?
If you are qualifying for the Canada Emergency Wage Subsidy and/or 10% Temporary Wage Subsidy?
A calculation based on your reduced income or business losses in 2020 is required from March 2020 is 15% or 30% April to June 2020. If you are generating a profit during 2020 cannot apply or use the wage subsidies, confirmation of a business loss, and payroll calculations.
Do’not know! about Emergency Funding
Learn more about helping your register or if you qualify?
For further information, contact Ina for a free 30 minutes consultation.
