June 30 Tax Deadline is Looming for Non-Residents

An important deadline is approaching for non-residents with certain Canadian-source income. June 30 is the deadline to file elected returns under Section 216 (pertaining to rental income) and Section 217 (pertaining to Canadian source pension income). There may be significant consequences for missing this deadline as returns received after this date, generally aren’t accepted. Here’s what you need to know:

In order to be eligible for a deduction for sales or travel expenses under subsections 8(1)(f) and (h) of the Income Tax Act, taxpayers must show that they worked on a commission-based income.

Well it's that time of the year again. . .tax audit season. The ostrich approach is one way to cope, but not the smartest. 

The U.S. has a number of different business structures available when conducting your affairs in the U.S., whether your business is rental property or operating a viable small business.

An employer may provide its employees the opportunity to purchase shares in the employer’s corporation at some future date, but at a price that is the current market price when the option is granted (the exercise price).

Volunteer firefighters can claim an amount of $3,000.

A perfect graduation gift, The Smart, Savvy Young Consumer by award winning Consumer Reporter Pat Foran will provide smart tips on saving, investing, and preparing for the future.