Canadian Taxpayers Selling U.S. Property
Many of Canadian taxpayers maintain a second home, a vacation property, or hold a U.S. real property interest for investment purposes. In 2020 and 2021, there is an upward...
Professional Corporations & Income Taxes
Most professionals can now incorporate their practices as professional corporations as per the provincial legislation. Professional Corporations are now becoming a very common...
Ontario – Incorporation without Resident Canadian Director
News Release – July 05, 2021
Resident Canadian Director no more needed for Ontario Corproations
The province of Ontario in Canada has removed the residency requirement...
CCPC Shares & Emigration
This article focuses on the limited emigration issues specific to shareholders of CCPCs related to their shares. Due to the complex nature of residency issues and tax...
Black Entrepreneurship Program in Canada
The much anticipated Black Entrepreneurship Program (BEP) opened the applications for Black Entrepreneurship Loan Fund.
The Black Entrepreneurship Loan Fund Program is an...
Cryptocurrencies: Income Tax Implications in Canada
Pandemic brought an extra spice to financial markets!
The financial markets climbed to a record high and still climbing, due to too much money in the economy. Like many other...
Business Model Canvas
A business plan plays a key role in the decision-making process for its internal and external users. The very first challenge entrepreneurs face is the writing of this business...
Understanding GILTI – For US Expats in Canada
Global Intangible Low-Taxed Income – Simplified!
The Tax Cuts and Jobs Act of 2017 (TCJA) brought some major changes for U.S. taxpayers.
The Global Intangible Low-Taxed...
2020 U.S. Individual Income Tax Returns – Deadline extended by IRS
The Internal Revenue Service (IRS) has extended the deadline to file Individual income tax returns for 2020 in the U.S.
The new deadline is now May 17, 2021 (the usual...
Hybrid Entities – The Tax Problems in Canada
A hybrid entity is an entity that has different tax treatments in different countries. The typical examples of these entities are US Limited Liability Company (LLC), Limited...
How to Stay Safe this Tax Season
Tax season is in full swing!
Millions of Canadians and Residents are looking to file their taxes. Traditionally, taxpayers with simple tax situations tend to visit drop-off...
Blockchain Technology and Cryptocurrencies
Cryptocurrency is the buzzword of 2021.
If you’re an investor, not a single day goes by without a headline about bitcoin popping up in the newspaper, a tweet about...