Tax and Financial Updates

May 25, 2020

IMPORTANT TAX NEWS: The CRA has extended filing deadlines for corporations and trusts to SEPTEMBER 1, 2020.

More details HERE

May 22, 2020

This week, the Government of Canada announced an expansion to the eligibility criteria for the Canada Emergency Benefit Account (CEBA ) established to help more workers and small businesses affected by COVID-19.

The Canada Emergency Business Account (CEBA) will provide...

May 22, 2020

The Canada Emergency Wage Subsidy (CEWS) helps businesses keep employees on the payroll and encourages employers to re-hire workers previously laid off, and better positions businesses to bounce back following the crisis.

Finance Minister Bill Morneau has announced that...

On April 21, 2020, the IRS issued two Revenue Procedures dealing with individuals who end up spending more days in the US in February and March of 2020 than they expected because of Covid, and issued an FAQ related to business conducted in the US. In some cases, the in...

April 29, 2020

GOVERNMENT OF CANADA: "As a Canadian employer whose business has been affected by COVID-19, you may be eligible for a subsidy of 75% of employee wages for up to 12 weeks, retroactive from March 15, 2020, to June 6, 2020.

This wage subsidy will enable you to re-hire work...

April 29, 2020

We had the opportunity to chat this week with Allan Nicols of THE CANADIAN EXPAT in the first of a series of interviews where we answer tax questions from Canadians living and working abroad.

Prior to the interview, we asked Canadian expats to submit their tax questions...

April 2, 2020

Small businesses and sole proprietorships affected by the coronavirus pandemic can apply for loans under the federal Paycheck Protection Program (PPP) beginning Friday, April 3, 2020. 

March 20, 2020

The IRS has provided an extension of time to both pay and now file for individuals and some businesses. The relief (as originally provided under Notice 2020-17 and modified since) allows individuals and many businesses 90 extra days (to July 15, 2020) to file and pay f...

March 16, 2020

There’s a lot of uncertainty in the world right now, but if there’s one constant here at Trowbridge, it’s the fact that not even COVID-19 can stop tax season from arriving - at least not that we’re aware of, yet!

We recognize we’re likely not the only email landing in y...