Multi-Million Dollar Boost for Alberta Innovators: What It Means for Your Business
Alberta’s innovation ecosystem just received a major upgrade with a new $14 million infrastructure investment from Alberta Innovates. When combined with partner contributions, nearly $48 million is being deployed to help small-to-medium enterprises (SMEs) in AI, aerospace, advanced manufacturing, and agri-tech scale their operations. For local startups and agricultural businesses, this specialized pipeline means faster access to commercialization resources and shared testing facilities. If you are ready to…
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The Risks of Relying on AI for Business Bookkeeping and Taxes
Are you using AI tools like ChatGPT for your business bookkeeping or tax questions? While artificial intelligence offers quick answers, it is increasingly leading to costly mistakes, incorrect tax claims, and cross-border confusion. The CRA does not offer leniency for tax errors or penalties generated by faulty AI advice. Read our latest blog to understand the risks of relying on AI for your accounting and how to safely use these tools without jeopardizing your business.
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Spring Cleaning Your Estate: Wills, Powers of Attorney, and Probate
Tax season is over, making it the perfect time to focus on the "Big Picture" of your estate plan. Did you know that marriage and divorce have specific impacts on your will under Alberta law? Or that you can bypass probate fees and delays by naming direct beneficiaries on your RRSPs and TFSAs? Our latest guide helps you "spring clean" your financial legacy and ensure your plan is up to date.
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"Snowbirds" Returning Home: The U.S. Substantial Presence Test
Welcome back to Canada! If you spent significant time in the U.S. this winter, you might be at risk of meeting the IRS "Substantial Presence Test" based on their 3-year weighted formula. To avoid being taxed as a U.S. resident on your worldwide income, you may need to file Form 8840 by June 15th. Our latest blog explains the 183-day calculation and how to properly claim the Closer Connection Exception.
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Agriculture & Business Deadline: AgriStability and April 30th
April 30th is a critical date for business owners, but there is relief for farmers this year. The AgriStability enrollment deadline has been officially extended to July 31, 2026, giving producers more time to assess the growing season before committing. However, sole proprietors must remember that while they can file in June, all taxes owing must still be paid by April 30th to avoid interest. Read our latest update to navigate these split deadlines effectively.
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Good News for Property Owners: The Underused Housing Tax (UHT) Repeal
Significant paperwork relief is here for property owners with the repeal of the Underused Housing Tax (UHT) for the 2025 tax year. While you likely do not need to file the UHT-2900 this April, it’s important to understand the timeline of the repeal and stay aware of provincial vacancy taxes if you own property outside Alberta. Read our full update on what this repeal means for you and your real estate portfolio.
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The "Hidden" Credits: Medical Expenses and Multigenerational Home Renovation
You might be leaving money on the table by ignoring "hidden" tax credits. From claiming travel costs for medical appointments to the Multigenerational Home Renovation Tax Credit (MHRTC) for adding a suite for a parent, our latest guide covers the deductions that software often misses. Plus, we provide an important reminder that the detailed method (and T2200 form) is now required for all home office expense claims.
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Capital Gains Clarity: The Inclusion Rate Remains at 50%
After a year of uncertainty, the government has officially cancelled the proposed hike to the capital gains inclusion rate. We can confirm that for the 2026 tax year, capital gains remain 50% taxable—providing much-needed stability for investors and business owners. Read our latest update to see how this impacts your portfolio rebalancing, business succession planning, and real estate sales.
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Tax Season Checklist: What Slips Do You Actually Need?
Filing your taxes too early can often lead to headaches if you miss a slip that arrives late in March. To help you prepare effectively, we’ve compiled a comprehensive checklist of standard items like T4s and T5s, along with commonly missed deductions like medical receipts, digital news subscriptions, and childcare costs. Ensure you have everything you need before hitting "send" this tax season to avoid processing delays or adjustments.
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RRSP Countdown: The March 2nd Deadline and Strategies Beyond the Deduction
The deadline to contribute to your RRSP for the 2025 tax year is March 2, 2026. While getting a refund is a popular goal, have you considered advanced strategies like Spousal RRSPs or timing your deductions to match your future income brackets? With recent changes to tax rates, the "standard" advice may not apply to everyone. Our latest guide breaks down how to make your RRSP work harder for your future retirement income.
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