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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
US Taxes for Canadian Snowbirds
What is a Snowbird? If you are a Canadian and spend winter in the U.S. you may, unknowingly, become a US resident under the tax laws of the United States. So, now you are a
Business Travel Expenses – A few things to care about!
A lot of time self-employed persons or small businesses ask questions about the deduction of travel expenses. Sometimes, for small businesses in particular, there is misguided information available for these entrepreneurs or small business owners
Why You Should Outsource Your Bookkeeping
Around one-third of small businesses outsource a business process. Accounting has become one of the most common processes that are outsourced by small to medium companies. Currently, Canada has emerged as a top market to
Why Do We Love Xero? A Closer Look
Xero has become immensely popular with small and medium businesses for its simpler approach to bookkeeping. With over a million subscribers, Xero is soon to become the most used cloud-based accounting solution across the whole
How To Take Your Startup To New Heights?
If you are just getting started with your startup, you know the different challenges that lie ahead. You could have different reasons to look to start your own business. Studies show that about 26% of
Employees Vs Independent Contractors: The Pros and Cons
Employee Vs independent contractor and, pros and cons of each
TAX QUESTIONS
Taxation of RSUs after moving from Canada
Question: I moved from the U.S. to Canada in April of 2024 after I got my Canadian PR approved. I have RSUs that were granted while I was in the
Short Term Rentals in Canada
Tax Question Asked by: Andrea J. Marie I have a condo that I use as an AirBNB in Toronto. I am recently told that I cannot claim any tax deductions
Bare Trust Reporting in Canada
Question asked by Sumit Khanna My son owns a house where he lives. He was having a hard time getting a mortgage. I decided to be on the title of
Late filing Penalties for form 5471
Tax Question asked by Aiman Doe (Name changed at their request) I am an American living in Canada since 2011. I own a Canadian Corporation since 2012. I have never
Tax Treaty Benefits for Non-U.S. members of LLC
Question: Can a U.S. LLC claim exemption from Canadian corporate income tax under article VII of treaty if it has non-us members?