Maroof HS CPA Professional Corporation, Toronto

GILTI and US citizens shareholders of Canadian corporations
U.S. Income Tax

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 Income (GILTI) regime was enacted to tax the U.S. Shareholders

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Online individual income tax return filing in Toronto
COVID-19

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 locations of various tax service providers. With Covid-19,

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Personal Income Tax Return checklist 2020
Individual Tax - Canada

2020 Individual Income Tax Return Checklist

2020 Tax season just started. Individual income tax and benefits returns are now open for e-filing. A checklist is compiled to help you preparing all the documents for your tax appointment. Please do not forget

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U.S. Canada cross border tax accountant for American citizens in toronto
U.S. Income Tax

10 Things Americans in Canada Should Know!

Effective February 12, 2021, the Internal Revenue Service (IRS) has begun receiving 2020 tax returns in the U.S. In 2020, the Americans have moved to Canada in record numbers. Whether you have recently moved to

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When to include forgivable portion of ceba loan
Corporate Tax

Forgivable Portion of CEBA and Income Inclusion

Many businesses in Canada have taken advantage of Canada Emergency Business Account (CEBA). The initial program offered $40,000 with 1/4 i.e. $10,000 is forgivable if certain conditions are met. Later on, the program expanded and

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