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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
Why You Should Read Your Tax Return Before Signing?
It’s your tax return, so doesn’t it make sense to check it’s accuracy? If you are like many business owners, you might directly sign your return and send it to the CRA without even reviewing
New Beneficial Ownership Rules for Canadian Corporations
Starting June 2019, under the legislative changes to Canada Business Corporations Act all the corporations federally incorporated in Canada must maintain a Register of Individuals with Significant Control. While some consider this is an additional
How a US LLC is taxed in Canada?
What is a US LLC? A Limited Liability Company (LLC) is a type of business entity that is created by a state statute in the US. This type of structure does not exist in Canada.
Canada Tax Changes – What’s new for 2019?
Major changes applicable for 2019 are as below. The below list is not conclusive of all the tax changes as applicable from 2019, however, these are the major changes the interesting majority of taxpayers in
5 Ways to Save Accounting and Tax Costs in Canada
Bookkeeping and accounting services in Canada especially in cities like Toronto and Vancouver can cost a lot! If you decide to go ahead with hiring a CPA in Canada, you should know that work done
Personal Income Tax Rates (Canada)- 2019
Personal Income Tax Rates for 2019 Federal and Provincial – for the province of Ontario Maroof HS CPA Professional Corporation is a tax service provider located in Woodbridge Ontario. It provides a wide range of
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.