Residents of Canada

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2017 Canadian and U.S. Income Tax Newsletter

This is a brief summary of some key considerations and due dates for your 2017 Canadian and U.S. individual income tax filings. Our firm also handles Canadian and U.S. corporate income tax filings and consultations. Please feel free contact our office to schedule a consultation or ask any questions you may have. CANADIAN TAX CONSIDERATIONS 2017 [...]

2017 Canadian and U.S. Income Tax Newsletter2018-02-14T18:06:40+00:00

Canada Revenue Agency: MyAccount

In recent years the Canada Revenue Agency (CRA) has done a lot of work in their online services to make paying income taxes, tracking benefits and refunds, and updating information easier.  The MyAccount service has been around since early 2015 and provides a great portal for taxpayers to access their information in the CRA’s records.  [...]

Canada Revenue Agency: MyAccount2017-05-02T15:27:40+00:00

Tips & Gratuities

Each year our firm receives questions about the tax implications of tips, both as an employee receiving them and an employer running a service business. The hospitality industry in Canada is a multi-billion dollar industry.  From mega hotels to the corner bistro, many Canadians make their living in the service field.  Canada’s culture has long [...]

Tips & Gratuities2017-02-17T11:55:20+00:00

Form 1120-F Filing requirements for Canadian Corporations active in the U.S.

Canadian corporations doing business in the U.S. are viewed by the Internal Revenue Service (IRS) as ‘Foreign Persons’. The U.S. taxes Foreign Persons on income effectively connected with a U.S. trade or business activity as well as certain U.S.-sourced income not effectively connected with a U.S. trade or business activity (commonly known as FDAP or Fixed, [...]

Form 1120-F Filing requirements for Canadian Corporations active in the U.S.2017-02-10T17:05:07+00:00

2016 Canadian and U.S. income tax planning

This is a brief summary of some key considerations and due dates for your 2016 personal income tax filings. Please feel free contact our office to schedule a consultation or ask any questions you may have. CANADIAN TAX CONSIDERATIONS • 2016 Individual income tax filing deadline is Monday, May 1, 2017 -  Canada Revenue Agency [...]

2016 Canadian and U.S. income tax planning2017-02-15T15:49:18+00:00

Reporting investments held outside Canada – Form T1135

One of Canada’s greatest strengths is its rich multiculturalism. People come to Canada from all over the world looking to make a new home for themselves and their families. Even with successful immigration to Canada, many families maintain foreign bank accounts and/or investments abroad. The Canadian tax laws are written in such a way that [...]

Reporting investments held outside Canada – Form T11352017-01-23T15:40:53+00:00