As cryptocurrency investing in Canada continues to grow, many incorporated professionals – especially consultants, IT specialists, and entrepreneurs – are asking an important question: Is it better to invest in crypto personally or through my corporation?
As families live and invest across borders, many people are surprised to learn how differently Canada and the United States handle taxes when someone passes away.
If you’re a Canadian with ties to the United States, whether through work, investments, property, or family, your taxes don’t stop at the border. Understanding how cross-border taxation works is crucial to protecting your money and staying on the right side of both tax authorities.
Thinking of moving to the U.S.? Don’t forget about Canada’s departure tax – it can cost you thousands if you don’t plan ahead.
Selling a business is one of the biggest financial decisions an entrepreneur can make. Beyond negotiating the right price, business owners need to carefully consider how the sale will be structured, since taxes can drastically affect how much money you actually keep.
Estate planning is about more than just deciding who will inherit your assets. In Canada, when someone passes away, the Canada Revenue Agency (CRA) treats their assets as if they were sold at fair market value the day before death. This is called a “deemed disposition”, which can create a significant tax bill for your … Continue reading Estate Planning in Canada: Avoiding Unnecessary Taxes for Your Heirs
First Year U.S. Tax Issues for Canadians Moving to the U.S. More Canadians are crossing the border to live in the U.S. than ever before, whether for career growth, business opportunities, education, or family. While the excitement of a new chapter is undeniable, moving to the U.S. means stepping into a very different tax system … Continue reading First Year U.S. Tax Issues for Canadians | Cross Border Tax Mississauga
As a Canadian accountant, I often get asked about HST: what it is, how to register for it, and how businesses can manage it efficiently. Whether you’re a small business owner just starting out or a seasoned entrepreneur, understanding HST is crucial to keeping your business compliant and optimizing your tax strategy.
Managing taxes is already complex – add international borders to the mix, and it becomes even more challenging. Whether you’re a Canadian investing in the U.S., an American living in Canada, or a snowbird splitting time between both countries, you need to understand how tax laws on both sides of the border affect you.
House flipping has become a popular way to build wealth in Canada, especially as real estate prices have surged. The basic idea – buy a property, renovate it, and sell it quickly for profit – sounds simple. But from the Canada Revenue Agency’s (CRA) point of view, flipping can carry complex tax consequences, and you … Continue reading Flipping Houses? Here’s How The CRA Classifies Your Profits
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