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  • Baker Tilly

    Welcome to Baker Tilly

    With member firms from coast to coast, we are one of the country’s largest associations of chartered professional accounting firms. As an all-Canadian network, we have a longstanding reputation for value-added audit, tax and advisory solutions.

  • Baker Tilly

    COVID-19: Business guidance

    Updated as of May 26, 2020. Stay tuned for the latest updates on tax and financial measures impacting Canadian businesses in the wake of COVID-19, as well as insights on how organizations can navigate this crisis.

The Latest at Baker Tilly

  • Baker Tilly

    Canada Emergency Wage Subsidy – Part IV

    The wage subsidy is the most lucrative program offered by the federal government with wide appeal ranging from small to large businesses. The proposed wage subsidy program was originally introduced on April 1, 2020. It received a few modifications a week later with even further amendments as it passed through the House as Bill C-14 on April 11, 2020.

    Baker Tilly

    Ontario CPA firms unite in Accounting for Bravery

    Waterloo, ON – In battling COVID-19, Ontario’s frontline healthcare workers are enduring one of the most grueling challenges of their lives. As a show of gratitude and support for these brave, dedicated professionals, CPAs from across the province have agreed to contribute their professional expertise at no expense to help these healthcare heroes prepare their 2019 taxes.

  • Baker Tilly

    Is it time to consider a “refreeze” transaction?

    In times of crisis, people can be opportunistic, and this economic turmoil can allow for certain tax planning opportunities. The current economic downturn caused by the COVID-19 pandemic has negatively affected the valuation of many Canadian businesses. Accordingly, it is wise to revisit any estate freeze transactions that may have been implemented at a time in a prior year when the economy was booming.

    Baker Tilly

    The pros and cons of being classified as a hobby farmer

    A full-time farmer gets into the business of farming with the reasonable expectation of profit. When they compile their tax returns, they report all their farm revenue and have the ability to deduct relevant expenses against any revenue on their tax return. Someone who has a farming business on the side with a regular source of income outside the farm would be considered a part-time farmer. In these cases, reporting the farm as a business could be advantageous because the expenses related to the farm might be higher than the income and these losses can be applied against other sources of income, lowering the taxpayer’s liability. In addition to these two options, there is a third classification that presents a different set of advantages and limitations: hobby farming.

  • Baker Tilly

    Updates to the wage subsidy program (CEWS)

    Our experts discuss the latest on the Canada Emergency Wage Subsidy (75%), a relief measure designed to help struggling companies and employers keep and rehire their employees.

    Baker Tilly

    Navigating the crisis

    From advice on operational resilience to key insights on demonstrating leadership, our latest Lawyers Alert takes a look at the varying actions lawyers and law firms must take during this unprecedented time.

    Baker Tilly

    Business investment losses

    In today's business and social environment, more and more owner-managers are struggling to keep their businesses alive. Many find it necessary to inject capital, including personal funds, into their companies. These funds might come from mortgaging their home, drawing on personal credit lines, or even friends and family. But investing in a business when there is an increased risk of struggle or failure requires that any investment should be planned with potential future loss in mind. Where such investments are made to private corporations, the investors or owner-managers may be entitled to a special type of loss known as a business investment loss (BIL). A BIL is a type of capital loss with one important advantage.

    Baker Tilly

    Baker Tilly HMA’s Dion Bird receives FCPA designation

    The Pas, MB – Baker Tilly HMA is pleased to announce CPA Manitoba has selected partner Dion Bird to become a Fellow, one of the greatest distinctions in the accounting profession. Designated by the initials FCPA, the title of Fellow of the Chartered Professional Accountants formally recognizes those who have rendered exceptional services and brought honour to the profession.