Bitcoins is a virtual form of currency used in a barter system of exchange. Its increasing popularity online has complicated tax issues in many countries. In Canada, bitcoins will be taxable, while the in the United States, the IRS has yet to address this issue.
The end of the year provides an optimal time to use a tax savings approach. This strategy involves deferring expected income, offsetting capital gains while maximizing tax benefits, donating shares and pay non-eligible dividends.
For Canadians in 2014, there will be some changes to three existing tax credits. This includes the lifetime capital gains exemption, the adoption expense tax credit and the hiring credit for small businesses. This also includes the introduction of the first time donor’s super credit.
It is essential for seniors to adopt a plan regarding taxes when planning for retirement. This plan should include using the pension income tax credit, claiming the age amount tax credit, splitting retirement pension income with a spouse, and using the registered retirement income fund.
Small business owners with families can utilize a number of different tax savings strategies to maximize their financial well-being. This consists of incorporating their business, claiming business related costs, allowing the lower income spouse to pay for household expenses, and using the employee home purchase loan to purchase a house.
There are hidden and secret tax credits for Canadians that can reduce your tax bill significantly. This short video and article reveals the top secret tax credits that the government doesn’t want you to find out about. Continue reading to find out more.
Businesses and consumers are rapidly adopting the use of mobile phones and apps in their everyday lives. In fact, most core business functions, including accounting, will ALL be run my mobile apps within the next 10 years.
This video tells you about the top mobile accounting apps for small businesses. Please watch, so that you’re not left behind the competition.
Christmas and the winter holidays are both fun and expensive at the same time. This video provides you with the best Christmas Savings tips, which will certainly lessen the financial stress that you’re facing. Watch to learn more.
My name is Allan Madan, your trusted accountant. I am also a real estate investor in the United States, Canada, and India, and I would like to share my experiences on the best practices for property management tips with you. This article is called ‘Property Management Tips for Real Estate Investors’.