Kemp Thompson Brown, CPA
88 13 St E S6V 1C6 Prince Albert, SK, Canada

5 tips to prepare for your accounting year-end (and to help you stress less)... We are well into tax season, and if you're feeling the crunch (or stress), we want to share 5 quick tips that will make your life easier going forward. 1. Start early so that you are prepared and your accountant can respond to your questions and offer advice without being rushed. We recommend talking to your accountant before your fiscal year-end.... 2. Ensure all the proper paperwork is signed well in advance. For example, getting a formal engagement letter signed, which is a CPA requirement. 3. Know your dates and deadlines so that you aren't leaving things to the last minute. Put them in your calendar and set reminders. If you're not sure about the dates and deadlines, ask your accountant. 4. Have your bookkeeping done by a professional to avoid mistakes or your accountant having to clean everything up. 5. Ask about any government incentives or tax relief that your business might qualify for.

Meet our Partners, Bill, Chris, and Gord!! Our team has over 40 years of Chartered Professional Accounting experience servicing private enterprises, farm corporations and preparing corporate and personal tax returns. We pride ourselves on establishing personalized and trustworthy partnerships with our clients to ensure all your accounting needs are met.... And with our expertise, we can guide you in making the best decisions possible. Contact our office for more information!! (306) 922-3899

COVID-19 benefits and T4As: What to do if there’s a mistake... Most individuals who received COVID-19 emergency and recovery benefits from the CRA should have their T4A by now and they are encouraged to file their 2020 income tax and benefit return as soon as they can. A small number of individuals may notice that their T4A does not reflect the payments they actually received. Perhaps they repaid an amount in 2020, and it is not reflected on the slip, or they have not made a ...repayment but the income reported on the slip has been reduced by some other amount. Click the link below to read more about what to do if there is a mistake... https://www.canada.ca//questions-about-your-t4a-what-you-n

Working at home during COVID? The Canada Revenue Agency has come up with a simplified process for making home office expense claims for 2020. Here’s how to file home office expense claims for 2020: ... https://www.cpacanada.ca//2021-02-09-home-office-expense-c

We've seen a rise in home renovations this past year. With everyone stuck at home, those long-overdue projects became a way to pass the time. Well, before Christmas the government announced a new tax credit that's available to Saskatchewan homeowners that will make renovations more affordable. Click the link below to check out how you might qualify! ... https://www.saskatchewan.ca//ta/home-renovation-tax-credit

You have until March 1 to contribute to your RRSP (i.e., Registered Retirement Savings Plan) for the year 2020. That is on Monday! We can hardly believe it's March already. But if you haven't contributed yet, or you want to contribute more, now is the time!

With all the uncertainty around your taxes this year, we want to share how we can help alleviate some of the confusion and overwhelm. At Kemp Thompson Brown we can help you prepare and file your tax returns to ensure they are being done correctly so that you're maximizing your earnings and avoiding doing it wrong. To learn more about our services, click the link below! ... https://www.kempthompsonbrown.com/services-1

What to expect from your 2021 taxes and how to prepare... Tax season 2021 promises to be one for the history books. With millions of Canadians losing their jobs and receiving COVID-19 income support and many pivoting to self-employment or side-gigs to make ends meet in the pandemic, tax preparers are bracing for a tsunami of complex returns and taxpayer anxiety this year. If you’re like most Canadians, the deadline to both pay and send in your tax return is Friday, April 30.... If you’re self-employed or have a spouse or common-law partner who is, you have until Tuesday, June 15 to file your return. However, you must still pay off any taxes owing by April 30. Click the link below to read more about what to expect and how to prepare this year. https://globalnews.ca/news/7616996/2021-taxes-canada/

Provincial support has been extended for small businesses in Saskatchewan. The Government made the announcement at the end of January that the Saskatchewan Small Business Emergency Payment (SSBEP) program that originally launched in April 2020 would be extended. With this extension, businesses are eligible for an additional payment for January 2021.... Click the link below to read the full announcement! https://www.saskatchewan.ca//support-extended-for-small-bu

It's February already, and you know what that means. Tax season is right around the corner. And we want to share why you should start thinking about your taxes now instead of waiting until the last minute. 1. Saves You Money - do you know what you can deduct each year? Most people don't. That is why it's important to start thinking about it now so that you can save on your next tax bill.... 2. Saves You Time - you're either one of two types of people. You have your tax information neatly organized in a folder or you have the information all over the place and each year you scramble to find it. If you're the latter this message is for you. If you start gathering the tax info. now it will save you + your accountant time later. Let us know which one you want to focus on this year? Comment 1 or 2!

Just a friendly reminder that you have to reapply for the Canada Emergency Response Benefit (CERB) for every 4 week period. https://www.canada.ca//s/benefits/ei/cerb-application.html

Hey everyone! I hope you are having a good weekend. Just a quick update!! Starting Monday, April 6 we'll have our doors open for dropping off your files only. Please practice proper distancing while entering and leaving the building.... If you have any questions, please contact our office. (306) 922-3899

We are sharing the latest news on the Canada Emergency Response Benefit. Monday, April 6 is when they are expecting to have the application portal open. Click the link below for more information on this benefit.... https://www.canada.ca//se/benefits/ei/cerb-application.htm