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Flipping Houses? Here’s How The CRA Classifies Your Profits
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 could end up with a surprising bill if you misunderstand how the profits are taxed. Read More
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US tax issues for Canadian online businesses explained.
As a U.S. tax accountant in Canada, I have come across many Canadian online businesses that sell to U.S. customers who completely ignore the IRS (Internal Revenue Service). The U.S. is a global hub for international business. The result? America has one of the world’s most complicated tax codes with hidden traps everywhere. As such, … Continue reading US tax issues for Canadian online businesses explained.
Loading...Legal Ways to Reduce Business Taxes in Canada
This short article will take you through the best legitimate methods to save business taxes in Canada.
(No Ratings Yet)Loading...Best Financial Stress-Relief Strategies
Being self-employed can be great. You can have the opportunity to work from home, create your own success, acquire the rewards personally and most importantly, be your own boss. However, a common problem faced by independent contractors is the failure to stay on top of their finances.
(No Ratings Yet)Loading...Filing Back Tax Returns for U.S. Citizens Living in Canada
This short article is called ‘Filing Back Tax Returns for US Citizens Living in Canada’ and it can help simplify the process of catching up with back taxes for Americans living in Canada. Before we start, I’ll tell you why it’s so important for you to become tax compliant with the IRS.
(No Ratings Yet)Loading...Small Business Deductions – BNN Interview with Allan Madan
Watch this short interview with Allan Madan on small business deductions. Allan shares the best 5 tax deductions for small business owners with Mike, host of BNN, a leading Canadian business news agency.
(No Ratings Yet)Loading...How Canadians Should Own U.S. Real Estate
This article is called “How Canadians Should Own US Real Estate” and going through it is bound to help if you are looking for information surrounding US real estate financing for Canadians. This post will take you through four different methods, or structures, that you can use to purchase rental properties in the US, so, … Continue reading How Canadians Should Own U.S. Real Estate
(No Ratings Yet)Loading...What are the federal budget tax consequences?
Are you wondering about the federal budget tax consequences? This short article discusses how the 2013 federal budget affects small business owners and individuals like yourself, so if you wish to learn about how the latest Canadian budget increases taxes for small business owners and individuals, this is the place to be. Let’s get started.
(No Ratings Yet)Loading...What are the Tax planning tips for business owners?
This article is about tax planning tips for self employed individuals, and if you are a sole proprietor or an individual who is self employed and owns his/her corporation, then these tax tips for self employed individuals are for just you, so let’s get started.
(No Ratings Yet)Loading...What are the Tax Deductions for 2012 in Canada?
This article talks about 2012 tax deductions for individuals. I am going to review the five most missed tax deductions. So, let’s get started.
(No Ratings Yet)Loading...Free Online Tax Assessment
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