Insights – Home
Take Advantage of our Insights and Tax Questions
Human-written quality content, without any AI or Bot assistance, so you can trust!
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
Crypto-Currencies – Reporting and Taxation
THIS POST IS NOT UPDATED and the tax implications are from a U.S. tax perspective. Please access one of the below links for 2021 posts: An easy to understand guide to Blockchain Technology and Cryptocurrencies
10 Best Bookkeeping Practices for Your Small Business
Reliable Financial Information is vital for any business success. Getting such information is dependent on the business’s bookkeeping process that carefully tracks business expenses and income. For many business owners, this bookkeeping process can be
Let’s not make these mistakes again in 2019!
Everyone makes Mistakes! Entrepreneurs are no exception, especially the new ones! Yes, this is quite normal! What matters is how quickly their learning curve improves from their own mistakes, and whether those mistakes are the
Cost of in-house Accounting
Businesses have been outsourcing their business processes that do not add direct value to their end customer experience – non-value-added activities – for many years. The most common outsourced business processes are legal, marketing, human
Outsourcing Accounting: When & Why?
Outsourcing is not a newer concept! Businesses outsource their functions and processes for multiple reasons – to lower costs, increase efficiency, access to expert and specialized solutions and to focus more on core business processes
FATCA Summarized
The Foreign Account Tax Compliance Act (FATCA) The objective of FATCA is to prevent offshore tax evasion by persons and entities and it focuses on identifying the accounts held by US persons and entities. No
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?