Blogs

Important release from CRA

2020 has definitely been a year of change and this is the newest change from CRA. For the 2020 tax year, the CRA has indicated that for the 2020 T4 slips (due March 1, 2021), there will be the need for additional reporting on information…

Covid-19 Relief Measures update

Canada Emergency Wage Subsidy - CEWS By now most of you will have heard of the Canada Emergency Wage Subsidy program.  Often referred to as CEWS the program is designed to subsidize employers paying wages in cases were revenues have declined…

Canada Emergency Rent Subsidy

On October 9, the government proposed the new Canada Emergency Rent Subsidy to provide direct relief to businesses, non-profits, and charities that continue to be economically impacted by the COVID-19 pandemic. The new rent subsidy would be…

November Team Spotlight: MEET SUKHRAJ GILL CPA, CA, & OWNER

Each month we have chosen an outstanding member of our team to introduce to you through a showcase of their personal lifestyle. Take a minute to learn about our team and their personal side. This month we would like to formally introduce Sukhraj…

CERB ended – Now What?

In response to the Covid-19 pandemic, the federal government acted swiftly and provided many forms of government financial relief for the individuals and businesses.  One of the most popular forms of relief that the government provided was…

Find extra cash in your shop

Going into the busiest quarter for tire shops means an opportunity to do some planning that can deliver more cash to your bottom line. I always start with the low hanging fruit and typically that involves setting up rules in the existing…

Canadian Emergency Wage Subsidy 2.0

The purpose of this post is to provide you with some additional details with respect to recent changes to the Canada Emergency Wage Subsidy.  This program has again been extended to include a period 7-9 and may additionally include a period…

Selling your Auto Shop Keep More of the Profits

You’ve invested so much into your shop over the years. Now it’s time for that hard work to pay off. You’ve built up your business. You’ve devoted your energies to staying on top of automotive innovations, creating a strong network of…

Ensure your shop succeeds. Focus on profit.

Being an entrepreneur takes courage and deciding to open your own shop is no easy feat. The repair shop industry is complex, requires an understanding of mechanics, financial information, parts inventory and labor management. It’s no wonder…

Up-date to the Canada Emergency Wage Subsidy

April 8th, 2020 the Government of Canada has shared new information regarding the 75% Canada Emergency Wage Subsidy; with some changes to the previous announcement. Disclosed below are the changes from our last post. (a) Revenue test –…

Canada Emergency Wage Subsidy

As promised the Government of Canada announced details with respect to the Canada Emergency Wage Subsidy (CEWS) today. A summary follows with details from the Government of Canada Website further down. The Federal Government will cover…

Applying for the Canada Emergency Response Benefit

Applying for the Canada Emergency Response Benefit: Create “My Account” with CRA Register and create CRA user ID and log-in or; Choose sign-in Partner (ie: online banking) Information you need available in order to sign in: SIN Date…

Canada’s Covid-19 Economic response Plan – Key points for Businesses and Individuals

,
Since the beginning of March, restrictions and measures related to COVID-19 have rapidly escalated. While the first stages focused on public health and safety, in very short order, businesses and personal finances began to be affected. It is…
shop management computer software

How Management Software Can Really Help Your Business

Make your Automotive Repair Shop Management Software Work for You At PDC Accounting Evolved, we have many automotive small-business clients that we see only once a year. They tend to rely on our year-end meeting to discuss their fiscal success,…

Good News for Tire Shops!

Tire market sales revenue in Canada is estimated at $4.3 Billion annually, of which 45.9% is from consumers; that’s a $1.97 Billion consumer market in Canada. With BC’s population making up just 1.35% of Canada’s, that means there’s…