A few months ago, a new client walked into our office holding a letter from the CRA. He looked baffled. “I just rent out my basement on Airbnb on weekends,” he said. “How did they know exactly how much I made?” Read More

There is a specific feeling every business owner knows. It’s that moment in April (or June, if you’re incorporated) when you look at your net profit, feel a surge of pride, and then look at the estimated tax bill and feel… mostly pain. Read More

It’s a conversation we have almost every week.

A client sits down, looking confused and a little frustrated. They’ve lived in Canada for fifteen years, they pay their taxes to the CRA on time, and they consider themselves fully Canadian.
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It used to be that “foreign business income” was something only massive corporations worried about. Today, it’s Mark, a graphic designer in Toronto who freelances for a startup in New York. It’s Sarah, who sells handmade jewelry on Etsy to customers in France.
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Imagine working hard all year, only to find out that both the Canada Revenue Agency (CRA) and the Internal Revenue Service (IRS) want a full slice of your income. Suddenly, a $100,000 salary could look more like $40,000 after both countries take their cut.
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