Featured Articles

Trust No Accountant

b2ap3_thumbnail_hand-shake

Sanjeey Khatter, like many Canadians today, was in the dark as to how to file his taxes. Therefore he took on a tax preparer to assist him with his financial needs. What occurred after was an unfortunate mixture of poor judgment and severe carelessness.

Read More

by MadanCA Team on February 10, 2016 @ 7:23 pm

All Articles Posts

MadanCA Team

Form W-8BEN/W-8BEN-E and W-9

  Why and when to file Form W-8BEN Purpose The W-8BEN form is a Certificate of Foreign Status of Beneficial Owner for United States Tax Withholding and Reporting (Individual). This form is required to be completed and submitted when receiving payments as a non-U.S. person from U.S. sources.  Generally, 30% tax is withheld from certain … Continue reading Form W-8BEN/W-8BEN-E and W-9

Hits: 2983 |  
Rated this entry. 1 Star2 Stars3 Stars4 Stars5 Stars
Loading...
0 Comments | Continue reading
MadanCA Team

Tax implications for Canadian employees working abroad

Tax Implications for Employees bl To understand the taxpayer’s responsibilities we must first determine their residency for tax purposes. In other words, will the employee remain a tax resident of Canada or will they become a resident of the US? To answer this question, we must consult the tax treaty between Canada and the US.  … Continue reading Tax implications for Canadian employees working abroad

Hits: 2983 |  
Rated this entry. 1 Star2 Stars3 Stars4 Stars5 Stars
Loading...
2 Comments | Continue reading
MadanCA Team

Canadians Owning a Vacation Property in the US

This article focuses on the tax implications when a Canadian gets rid of a vacation property in the US. Ridding of a property can be taken in two forms: 1) Selling the vacation property or 2) when the taxpayer passes away while having ownership of the property. Selling the vacation property: Once the vacation property … Continue reading Canadians Owning a Vacation Property in the US

Hits: 1765 |  
Rated this entry. 1 Star2 Stars3 Stars4 Stars5 Stars
Loading...
0 Comments | Continue reading
MadanCA Team

Foreign Income Verification Form (Form T1135)

  To make sure your foreign income verification process goes smoothly, the foreign property that must be recorded on the T1135 includes: Funds in foreign bank accunts Shares in foreign companies, even if held in a Canadian brokerage Interests in non-resident trusts bonds or debentures issued by foreign government or foreign countries Life insurance policies … Continue reading Foreign Income Verification Form (Form T1135)

Tagged In:  
Hits: 1862 |  
Rated this entry. 1 Star2 Stars3 Stars4 Stars5 Stars
Loading...
0 Comments | Continue reading
MadanCA Team

Organize Your Finances through Wave Accounting

As a small business owner, you always have countless to-dos on your plate. Unfortunately, sometimes critical tasks like accounting end up getting neglected — leading to a mad dash come tax time. Fortunately, with new apps in the marketplace, like the free accounting and invoicing app Wave, you don’t need to devote hours to staying … Continue reading Organize Your Finances through Wave Accounting

Hits: 2315 |  
Rated this entry. 1 Star2 Stars3 Stars4 Stars5 Stars
Loading...
0 Comments | Continue reading
MadanCA Team

Benefits of a Health Spending Account

Dental cleanings, prescription drugs, glasses, cavities, massage therapy, antibiotics, contacts….the list goes on and on. Your family spends thousands of dollars a year on medical costs that aren’t covered through OHIP (or your provincial plan). How do you pay for them? Introducing Health Spending Accounts – the smarter way to pay for your health care! … Continue reading Benefits of a Health Spending Account

Tagged In:  
Hits: 2042 |  
Rated this entry. 1 Star2 Stars3 Stars4 Stars5 Stars
Loading...
0 Comments | Continue reading
MadanCA Team

Tax Implications of Mergers in Canada

Tax Implications of Mergers Mergers and amalgamations encompass a broad range of transactions. Their tax issues vary depending on a number of factors, including: whether the target company is public or private, whether the target is a resident or non-resident of Canada, impact of the year-end of both companies, application of capital and non-capital losses, … Continue reading Tax Implications of Mergers in Canada

Hits: 4004 |  
Rated this entry. 1 Star2 Stars3 Stars4 Stars5 Stars
Loading...
0 Comments | Continue reading
MadanCA Team

Year-End Tax Tips for 2014

Tax management is very critical, especially for small and medium-sized businesses. This article provides many year-end tax tips for 2014 that you can take advantage of to save your business more money. 1)    Withdraw funds from your corporation in a Tax-effective manner: Salary and/or Dividends Pay Salary /Bonus from the corporation: Advantages Salary/bonus constitutes as … Continue reading Year-End Tax Tips for 2014

Hits: 45 |  
Rated this entry. 1 Star2 Stars3 Stars4 Stars5 Stars
Loading...
0 Comments | Continue reading
MadanCA Team

Tax Breaks for Families in 2015

The new measures consists of three components which are forms of income-splitting, raise in monthly child bonus payments and an increase of the tax deduction parents can claim for their child care and children’s fitness expenses.The details of the measures are provided as follows: 1. Family Tax Cut – Income Splitting The new Family Tax … Continue reading Tax Breaks for Families in 2015

Tagged In:  
Hits: 1927 |  
Rated this entry. 1 Star2 Stars3 Stars4 Stars5 Stars
Loading...
0 Comments | Continue reading
MadanCA Team

Tax Tips for Real Estate Investors in Canada and the United States

Real Estate investors in Canada and the United States should be aware of the tax implications of investing in real estate. In this presentation, Allan Madan explains the most tax effective structure to hold and own real estate properties in both Canada and the United States. He also explains how to minimize estate tax for … Continue reading Tax Tips for Real Estate Investors in Canada and the United States

Tagged In:  
Hits: 1542 |  
Rated this entry. 1 Star2 Stars3 Stars4 Stars5 Stars
Loading...
0 Comments | Continue reading

Free Online Tax Assessment

Save on Personal Taxes with this Incredible tool!

Save on thousands of dollars every year on personal taxes with this Incredible, FREE tool!

SAVE TAX NOW

Pin It on Pinterest

Share This