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How to Purchase a Primary Residence with a Corporation in Canada

Are you a business owner that would…

Tax Implications of Canadian Investment in a Florida Rental Property

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How to Reduce Withholding Taxes on the Sale of U.S. Property

Are you selling or thinking of sell…

How to Report the Sale of a U.S. Rental Property

Are you planning to sell a rental p…

Part 2 - How to Prepare a 1040-NR Tax Return for U.S. Rental Properties

Are you a Canadian investor in U.S.…

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Faq's

Q: I rent out a residential property. What are some tax implications, with regards to sales tax?

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Q: I just bought a new house with the closing today, but my current house will be sold soon. How can I maximize deductions?

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Q: As a non-resident with rental property in Canada, am I required to remit 25% to the CRA?

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Q: When a rental property is converted into a principal residence, are there any tax implications?

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Q: I’m a non-resident owning rental property in Canada. I’m confused between the NR4 slip, and NR6 form.

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Q: What are my tax obligations if I am a non-resident holding rental property?

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Q: If I purchase a rental property, and I’ve never owned a primary residence, can I utilize the First time Home Buyers Plan?

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Q: If I am a non-resident of Canada, and I sell Canadian real estate, what is the procedure for filing tax returns, and paying taxes?

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Q: I am a non-resident earning rental income in Canada. Do I need to file an NR4 slip and summary with the CRA?

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Q: Do I have to file a NR4 return with the CRA even if I did not remit any non-resident withholding taxes to the CRA?

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Q: How do I set up a non-resident account number?

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Q: I am a non-resident with retirement funds in Canada. What are my tax consequences if I start withdrawing?

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Q: Are there special rules for the principal residence exemption for non-residents?

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Q: As a non-resident with rental property in Canada, am I required to remit 25% to the CRA?

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Q: Can I make payments to the CRA for non-resident withholding taxes from my rental income?

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Q: If I sell services to clients outside Canada, do I have to collect GST/HST?

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Q: How do I amend my HST return?

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Q: Does HST have to be collected/paid on acupuncture treatment?

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Q: I incurred meals expense that were reimbursed by my client. Is this expense 50% deductible to me or 100%?

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Q: If a company is willing to pay money per month for an annual membership (fitness club, golf) again, is there a way to structure it not as just an expense of the company?

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Q: If a company leases a car for me, is it a taxable benefit? Is there a way for me to have my company simply pay for it?

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Q: I collected HST but didn’t register for an HST number on time, what should I do?

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Q: What is a reasonable management fee?

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Q: My current employer asked me to become an independent contractor. What’s the benefit for them?

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Q: What rate of tax does a “Testamentary Trust” pay?

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Q: Do I have to make payments on sales tax?

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Q: I will make instalment payments for the current year based on the estimated taxes payable. What if, during the course of the year, my net income increases dramatically (the taxes payable will increase too). What are the tax implications?

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Q: How do I get a Social Insurance Number, which is required to be reported on tax returns?

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Q: What is the benefit of contributing to a spousal RRSP?

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Q: Can rent paid by a student for residence be claimed on the personal tax return?

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Q: Are board and lodging considered a taxable benefit for employees?

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Q: Have the CPP and EI max thresholds changed for 2014?

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Q: Do investors who receive form 1099 or form 1042 from the U.S. have to file a U.S. tax return?

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Q: As a US citizen, is there any benefits of holding a TFSA/RESP?

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Q: What is the tax deadline for U.S. Personal Tax Return?

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Q: What happens to my IRA & 401K if I temporarily relocate to Canada?

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Q: I am a Canadian resident and I received dividends and interest income from the U.S. Do I have to file a U.S. tax return?

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Q: When are U.S. Personal Tax Returns due?

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Q: I’m a US business planning on selling products to Canadian customers. Do I need an extra-provincial license?

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Q: I am a Canadian resident and have some funds in a U.S. 401K. What is the most tax efficient way of bringing these monies into Canada?

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Q: I want to perform bookkeeping for my small business. What do you recommend me to use?

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Q: Should I use Wave Accounting for my bookkeeping needs?

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Q: How long should I keep my income tax records?

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Q: Why is my bank asking me for “reviewed” financial statements?

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Q: What are business accounting services?

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Q: Is there such a thing as a Chartered Accountant – Expert in Taxes?

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Q: How can an Accountant in Mississauga help my business obtain a bank loan or line of credit?

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Q: Can inadequate business accounting services cause my business to fail?

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