Seniors Targeted? The Tax Audits Begin
The Canada Revenue Agency (CRA) routinely reviews or audits tax filings, including personal, trust, corporate, and HST returns. The most common types of reviews that focus on personal tax returns include, but are not limited to, Pre-Assessment Reviews, Processing Reviews, and the Matching Program. This year there is a new focus: the Multigenerational Home Renovation Tax Credit introduced to help families better care for their elders. But claiming it, like other tax benefits, comes with a tax snare. Read on to learn more.Partners Beware: Mandatory Retirement Is Okay
The Supreme Court of Canada recently held that a partnership’s mandatory retirement policy was not arbitrarily discriminative, as a partner is not an employee.
Evelyn Jacks: Rich-Poor Gap? Blame Educated Women
Income inequality is a noted problem in society, and one covered in this blog recently. But it’s one that is complex and requires a closer analysis.
U.S. Inheritances – Taxable or Not?
When is the inheritance from your U.S. based parents taxable and in which country?
When Are You Considered to Be In the Business of Buying and Selling Real Estate?
Lots of people like to dabble in real estate when markets are hot. The issue for tax filing purposes is whether you held the property for personal use, as a passive investment or whether you are in fact in the business of buying and selling real estate.
Capital Losses Not Worthless
Capital losses are important. They can offset capital gains of the year, the prior three years or any future year.
Specialize in Providing Advanced Year-Round Service to Business Clients
Know More. Make More: Tax and Bookkeeping practitioners, expand your services to business owners and increase your revenues. Enrol in the prestigious MFA™-Business Services Specialist Designation by June 15 and attend DAW as our guest.
