Nexora CPA

Abbotsford & the Fraser Valley

An accountant for Abbotsford farms, businesses and families.

Farm, business and personal tax for the Fraser Valley, by video or in person, wherever suits you.

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Fraser Valley clients

The Fraser Valley files we know.

Agriculture, trucking and the trades drive much of the local economy, and those are the files we work on most here.

Farms

Farm income and expenses, equipment, land and passing the farm to the next generation.

Trucking and transportation

Owner-operators and fleets: vehicles, fuel, GST, payroll and the move to a corporation.

Contractors and trades

Job costing, GST, T5018 slips and year-end for contractors working across the Valley.

Family businesses

Owner pay, holding companies and succession planning for businesses run by more than one generation.

For farm families

Farm tax works differently.

Farm income and expenses

Farm income, inventory, equipment and land costs reported on the right basis, with records your lender can rely on.

  • Personal returns with farm income
  • Corporate returns for farm corporations
  • Equipment and capital cost allowance

Passing the farm on

Qualified farm property can be transferred to children on a tax-deferred basis in many cases, and its sale may qualify for the lifetime capital gains exemption. We plan the steps before anything changes hands.

Working with your lender and advisors

Compilation financial statements for your bank, and coordination with your lawyer on land and share transfers.

Industry guides

Guides for Fraser Valley clients.

Local guide

Tax notes for Abbotsford and Fraser Valley clients.

Agriculture, trucking and the trades drive much of the Fraser Valley economy. These are the tax topics that matter most for our clients there.

Farm income

Farm income is reported on your personal or corporate return, and some farmers can use the cash method, which recognizes income when it's received. If farming isn't your chief source of income, farm losses you can claim against other income may be restricted.

  • Equipment and buildings are depreciated through capital cost allowance
  • We prepare figures used for AgriStability and AgriInvest
  • Land, quota and equipment are tracked for future transfers or sales
Passing the farm on

Qualified farm property can often be transferred to a child on a tax-deferred basis, and a sale may qualify for the lifetime capital gains exemption. The rules are detailed, so we plan the steps with you and your lawyer before anything changes hands.

Trucking and transportation

Owner-operators and fleets deal with vehicle costs, fuel, GST and payroll. Interprovincial carriers may also have fuel tax reporting under the International Fuel Tax Agreement. Incorporating often makes sense once profit exceeds what you need personally.

Contractors and family businesses

Many Fraser Valley businesses are run by more than one generation. Owner pay, holding companies and succession planning work best when they're planned years ahead.

Have a question about your situation?

Book a call

Working with us

Working with us from the Fraser Valley.

01

Start with a short call

We learn what you need and give you a quote upfront.

02

Connect securely

You authorize us with the CRA and share documents through our secure client portal.

03

We do the work

Your file is prepared and reviewed by a CPA, with questions sent as they come up.

04

Review together

We walk you through the results by phone, video, at our office or wherever suits you.

Questions

Common questions.

Do you have an office in Abbotsford?

No, we're downtown Vancouver. Most Fraser Valley clients work remotely, and we're happy to come to you.

Can I transfer my farm to my children without triggering tax?

Often yes. Qualified farm property can generally be transferred to a child at a value between its cost and fair market value, which can defer tax. The details matter, so we plan it with you and your lawyer first.

Do you work with owner-operator truck drivers?

Yes, from sole proprietors to incorporated fleets, including GST, vehicle costs and payroll.

Can farm losses be deducted against my other income?

Fully, if farming is your chief source of income. Otherwise, the deductible amount may be limited.

How are fees set?

Fees depend on the size and complexity of your file. We give you a quote upfront after a short first call.

Talk to a CPA about your farm or business.

Book a call