9 Tax Tips To Tackling Covid Benefits

<p>It’s been a crazy twelve months to say the least. And now, add taxes to the mix—well, let’s just leave it at nerve-racking.</p><p>We’re running into a tax season unlike any other. As Founders, we’re typically tapped with twice the pressure, contending with both personal and corporate tax returns. Now, with the added task of reporting Covid benefits, it can feel four times as daunting.</p><p>Make this episode a top priority, Founders. It’s time sensitive. It’s mission critical. And, if you apply the tips NTN Pro, Brian Quinlan shares here, you’ll likely save yourself, and your business, tons of aggravation, uncertainty and costly mistakes.</p><p>Part 1 // PERSONAL TAXES AND COVID—WHAT YOU NEED TO KNOW</p><p>First things first, let’s make sure  our home base is covered. Brian walks us through what we need to know if we’ve benefited from either CERB or CEWS. He also takes us through what we can and can’t write off, if we found ourselves working from home through Covid. In case you didn’t know, different rules apply for sole-proprietors versus employed Founders.</p><p>Part 2 // CORPORATE TAXES AND COVID—WHAT YOU NEED TO KNOW</p><p>And now to get down to business. Whether you received Covid benefits to support your team, to subsidize your lease, or to cover your operating expenses, Brian helps us navigate the A-Z of Covid relief accessible to business owners in 2020. Heads up, for those of you who may have drawn larger than normal dividends last year, you’ll want to pay close attention.</p><p>Part 3 // HOW TO TAKE A PROACTIVE APPROACH TO 2021</p><p>Last but not least, Brian suggests an alternative approach to our 2021 tax strategy. Saving money on taxes requires a proactive approach, not a reactive one. Therefore, come this May, as weary as you may be, this is the time to ask the one, most important, question of your accountant…</p><p>DOWNLOAD YOUR FREE TOOLS AND TEMPLATES @ THE GAB LAB VAULT www.nailthenumbers.com/thevault</p><p>// The Playbook</p><p>// Canadian Income Tax Rates [Individual]</p><p>// Cana