Maroof HS CPA Professional Corporation, Toronto
Global Intangible Low-Taxed Income – Simplified! The Tax Cuts and Jobs Act of 2017 (TCJA) brought major changes to the U.S. tax system. With these changes come additional complications for U.S. citizens and resident aliens.
U.S. LLCs and S Corps are hybrid entities due to a mismatch of income tax treatment in both U.S. and Canada
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
Have you recently received a contract offer from a business that has asked you to incorporate yourself? By the way, this is very trendy in the IT and transportation industry! We receive a couple of
A lot of people have claimed CERB for the full 28 weeks period, totalling up to $14,000. Canada Revenue Agency (CRA) has issued letters to the taxpayers who they think might not have been eligible.
The year 2020 is approaching an end! This is the time of the year when you should not forget important tax planning to best optimize your 2020 income taxes in Canada. We have compiled a
There are many ways small business owners can optimize their corporate income taxes for 2020. This post is for the small to medium-sized businesses operating in the corporate form. Further, we do not recommend relying
Property flipping is an increasingly common practice to buy a property and then reselling it for a quick profit. Property flipping also includes assignment sales a.k.a. shadow flipping. Shadow flipping is the sale of a property
Canada Emergency Rent Subsidy (CERS) applications are open now. CERS provides much-needed support to Canadian businesses struggling with rent payments during the pandemic. If you have already applied for Canada Emergency Wage Subsidy (CEWS) you
Canada Emergency Wage Subsidy (CEWS) has been providing significant support to Canadian jobs by covering 75% of employee’s wages (sometimes up to 85%, see new CEWS rules). A total of $35.31 billion has been paid