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We attempt to assist our readers by simplifying some of the complex income tax issues in Canada. Occasionally, we answer the general tax questions as well that can help a broader readership of our blog section.
INSIGHTS
Covid-19 and Tax Filing Deadlines in Canada
Canada Tax Filing and Payment Extensions amidst Covid-19 This post is not being updated anymore. Please visit our page income tax services during Covid-19. Updated on July 27, 2020 Updated on March 18, 2020 (11:45
How to report foreign rental income in Canada?
In recent days, we have received a couple of inquiries from our blog subscribers and readers about the foreign rental income of Canadian residents. This post is for general information purposes and cannot be relied
How is foreign inherited property taxed in Canada?
Canada is a country having vast immigrant population. Every year new immigrants come to Canada and gradually achieve their immigration status as permanent residents and ultimately Canadian citizenship. If you are a new permanent resident
How to Write an Executive Summary for Your Business Plan
An executive summary is a must for your business plan. In fact, it’s what your business plan begins with, capturing the essence of your business concisely. It highlights the main points of your business plan
How to write market section of a business plan?
When you are writing your business plan for a startup or an established business, you need to be clear about your audience. Who are you selling it to? Who are your ideal customers? You need
What Should Your Business Plan Include? Dissecting the Essentials
Preparing a good business plan is a time-consuming task that requires dedication and far-sightedness. Many entrepreneurs choose not to craft a business plan before going ahead with the execution of their idea since it is
TAX QUESTIONS
IT Contractors – Employee Vs Incorporation
Question: I Am An IT Professional. I Just Received An Offer From My Employer. My Employer Wants Me To Incorporate And They Have Agreed To Offer A Better Hourly Rate. I Am Confused Should I Set Up A Corporation Or Become An Employee?
Tax on Inheritance in Canada
Question: My mother passed away in India last month. I am receiving my share of the family house. The home is located in India. I am a resident of Canada. Do I need to pay taxes in Canada when this property is transferred to me?
Incidental Rental income of CCPC
Question: My corporation, a CCPC, has a catering business and holds a building as an asset. I rent a portion of the building but use the rest in my operations. Is my corporation now Specified Investment Business?
U.S. Citizens and Residents with U.S. Amazon Stores
Question: Do Canadian Corps using U.S. Amazon FBA services need to pay branch profit taxes and file 5472.