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Response Bookkeepers

Name: Response Bookkeepers
Address: Regina, SK, CA
Telephone: +18772805308

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Response Bookkeepers

At Response Bookkeepers we understand the complexity of managing your business.

05/28/2026

Personal Tax Tip Thursday: June 15th is just around the corner! 🗓️

If you're self-employed, this is your official filing deadline. It’s important to distinguish between paying and filing: while any taxes owed were technically due on April 30th to stop interest from accruing, filing your return by June 15th is the key to avoiding late-filing penalties.

Even if you aren't ready to pay the full balance yet, getting your return filed on time is a huge win for your wallet. Don't let paperwork stress you out: when all you get are questions, all you need is Response.

05/28/2026

Breathe a sigh of relief, business owners! It’s Personal Tax Tip Thursday!

We have some fantastic news regarding "Bare Trust" reporting that will definitely help you sleep better tonight.

The CRA has officially extended the relief for bare trust reporting into the 2025 tax year. This means that for most small business owners, those complex T3 returns and Schedule 15 filings are NOT required for the upcoming 2026 filing season.

Why does this matter for you?
- Less Paperwork: No need to navigate the confusing "beneficial ownership" rules for simple arrangements.
- Reduced Costs: No extra accounting fees for filing unnecessary trust returns.
- Zero Stress: No more worrying about those steep non-compliance penalties while the rules are being finalized.

Whether you've co-signed a mortgage for a family member or hold title for your corporation, this pause gives you the breathing room you need to focus on what matters most: running your business.

Need clarity on how this affects your specific situation? We’re here to help.

05/26/2026

Tax Tip Tuesday: Bare Trust Reporting Relief is Here! 🙌

There’s some great news for Canadian small business owners who were stressed about Bare Trust reporting. Under the new Bill C-15 updates, many common 'bare trust' scenarios that previously caused a reporting headache have been simplified or exempted.

This is a huge relief for those who hold assets in trust for their business or family members and were worried about the complex Schedule 15 filing requirements.

While the rules have softened, documentation is still key. If you're unsure whether your specific arrangement still requires a filing, let's talk.

When all you get are questions, all you need is Response.

05/26/2026

Did you know the Canada Carbon Rebate for Small Businesses is non-taxable? Many entrepreneurs mistakenly report this as income, but for the 2026 tax season, it's important to ensure you aren't paying unnecessary tax on these funds. At Response, we double-check your rebates to keep your money where it belongs: in your business.

When all you get are questions, all you need is Response.

05/21/2026

Thinking about a new vehicle for your business? 🚗

For this Personal Tax Tip Thursday, we're diving into the 2026 CRA vehicle limit updates. If you've been waiting to upgrade your ride, now might be the perfect time to maximize your write-offs!

Key updates for 2026:
✅ Capital Cost Allowance (CCA) ceiling for Class 10.1 passenger vehicles has increased to $39,000 (plus tax).
✅ Tax-exempt mileage rates have risen to 73¢/km for the first 5,000 km.
✅ Deductible leasing costs stay steady at $1,100/month (before tax).
✅ Zero-emission vehicle limit remains high at $61,000.

Choosing the right vehicle isn't just about the drive: it's about the strategy. Whether you're upgrading the fleet or buying your first business car, knowing these limits helps you make informed decisions and maximize your tax position.

Don't wait until year-end to worry about your deductions. Let’s get your bookkeeping and strategy sorted today so you can focus on what you do best: running your business.

When all you get are questions, all you need is Response.

05/19/2026

Tax Tip Tuesday: Dealing with the Cash Flow Crunch 📉

Late payments are trending upward across Canada right now, and it can put a real strain on your operations. But there's a silver lining for your taxes: if an invoice is truly uncollectible, it may be deductible as 'Bad Debt.'

To stay ahead:
✅ Review your Aged Receivables in Xero weekly.
✅ Set up automated invoice reminders to nudge slow payers.
✅ If a debt is uncollectible, ensure you document your recovery efforts before writing it off to reduce your taxable income.

Don't let unpaid invoices weigh down your business or your tax bill. When all you get are questions, all you need is Response.

Visit us at responsebookkeepers.com to learn how we help manage your cash flow.

05/14/2026

📦 Moving for a new job or to start your dream business? Don’t leave money on the table! 🏠

It’s Personal Tax Tip Thursday, and today we’re talking about moving expenses. In Canada, if you moved at least 40 kilometres closer to your new place of work or business, you might be able to claim those moving costs on your personal tax return!

What can you claim?
- Travel expenses (meals and vehicle costs)
- Storage and packing
- Temporary living expenses (up to 15 days)
- Cost of cancelling a lease or selling your old home

Whether you’re a small business owner relocating for a new market or an employee starting a new chapter, these deductions can make a big difference in your bottom line. 📉✨

Keep those receipts organized! The CRA loves documentation.

Got questions about what qualifies? We’re here to help you navigate the paperwork so you can focus on what you do best. Let’s get this done.

05/12/2026

Are you a contractor working through your own corporation? You might be sitting on a tax time bomb called the Personal Services Business (PSB) trap.

In Canada, if the CRA decides your corporation is actually performing duties like an employee would, they could label you a PSB. The consequences are significant:

1. You lose the Small Business Deduction entirely.
2. Your corporate tax rate skyrockets to a much higher level.
3. Most of your typical business expense deductions are disallowed.

It’s the difference between building your future and paying nearly half your income in tax. The CRA is looking closely at "deemed employees," and being caught unprepared can be devastating for a small business owner.

Don't wait for an audit to find out where you stand. At Response Bookkeepers, we can review your setup and provide the clear guidance you need to protect your business.

When all you get are questions, all you need is Response.

Let’s get this done and ensure your business is structured for success. Reach out today!

05/07/2026

Did you know you aren't restricted to the calendar year for medical expenses? 🏥

For your personal tax return, you can actually claim eligible medical expenses for ANY 12-month period ending in the tax year.

This is a huge win if you had a cluster of expenses (like major dental work or new glasses) that spanned across the end of one year and the start of the next. By picking the right 12-month window, you can maximize your claim against that 3% net income threshold.

Keep those receipts organized! If you're unsure which window works best for you, that’s exactly what we’re here for.

05/05/2026

Taking money from your corp for personal use? Don't get caught in the Shareholder Loan Trap! 🕒

For Tax Tip Tuesday, we’re looking at the 'One-Year Rule.' If you withdraw funds that aren't categorized as salary or dividends, it’s a loan from your company. To avoid extra taxes, you must repay it within one year from the end of the fiscal year it was taken.

Miss that window, and the CRA adds it to your personal income. You’ll pay personal tax on it, but the company gets no deduction. 💸

Let's get this done:
✅ Track draws monthly.
✅ Plan repayments or salary conversions before the deadline.
✅ Work with a pro to keep your books clean.

When all you get are questions, all you need is Response.

Address

Regina, SK

Opening Hours

Monday	9am - 5pm
Tuesday	9am - 5pm
Wednesday	9am - 5pm
Thursday	9am - 5pm
Friday	9am - 5pm

Telephone

+18772805308

Website

http://ResponseBookkeepers.com/

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