Featured Articles
Trust No Accountant
Sanjeey Khatter, like many Canadians today, was in the dark as to how to file his taxes. Therefore he took on a tax preparer to assist him with his financial needs. What occurred after was an unfortunate mixture of poor judgment and severe carelessness.
by MadanCA Team on February 10, 2016 @ 7:23 pm
All Articles Posts
Real Estate Investments Mississauga
Eric Skicki grew up in Mississauga and has been passionate about the real estate industry since he was a child. He furthered his passion and consolidated his love for this city by practicing real estate investment in Mississauga. His Degree from York University and his management experience from running successful businesses, has helped him become … Continue reading Real Estate Investments Mississauga
Loading... The most tax-efficient way for Canadians buying a real estate property in the US
This article will discuss the top 3 strategies used by Canadian investors when purchasing a U.S. property. The goals of these 3 methods are to: Minimize risk Minimize tax burden Maximize returns
Loading... Canadians buying US Real Estate through US Partnership: LP, LLP & LLLP
So you’re a Canadian investor buying real estate in the US, and are confused about whether to buy with a partnership, US C-corporation, or limited liability corporation. While there are many ways that a US property can be purchased by a Canadian investor, the best legal & tax structure is the “US Partnership”. A diagram … Continue reading Canadians buying US Real Estate through US Partnership: LP, LLP & LLLP
Loading... Taxes on Flipping Canadian Real Estate – Capital Gains vs. Business Income
These days, it seems as though buying a property and then reselling it at a higher price is all the rage. On the surface, it seems like a terrific idea – buy a property, perhaps spend a little time and money fixing it up, and then sell it for a tidy profit. In today’s still-fragile … Continue reading Taxes on Flipping Canadian Real Estate – Capital Gains vs. Business Income
Loading... Taxes On Your House
You don’t pay taxes on your house when you sell it, unless you do certain things to it like rent it out, or if you own multiple homes. This article will describe the rules around the taxes on your house, and the key definitions and criteria. It will also describe how taxes may arise, in … Continue reading Taxes On Your House
Loading... Tax Tips for Retirement in Canada
Planning for retirement is crucial in order to ensure you can have the retirement lifestyle you envision. One important aspect to keep in mind during this planning is the associated tax benefits and implications. The following are some techniques of reaping tax benefits when saving for retirement in Canada. 1) Contribute to RRSP The first … Continue reading Tax Tips for Retirement in Canada
Loading... Shareholder Loans – How to Get Cash out of Your Corporation Tax-Free
Shareholder Loans As a shareholder, there are a number of ways to withdraw funds from your corporation, i.e.: you can declare dividends, receive salary, or take bonuses. However, each of these remuneration strategies has personal income tax implications. An alternative method of withdrawing corporate funds is to have the corporation issue a loan to the … Continue reading Shareholder Loans – How to Get Cash out of Your Corporation Tax-Free
Loading... How to Setup your Family Trust in Canada
Many Canadian business owners are advised to form a Family Trust in Canada considering its many advantages, in particular saving taxes. However, very few business owners are aware of the steps required to actually form a family trust. This article will cover: (A) How a family trust operates and (B) The steps needed to establish … Continue reading How to Setup your Family Trust in Canada
Loading... Canada Revenue Agency Reviews
The Canada Revenue Agency reviews and checks your personal tax returns routinely, as part of the processing process. The CRA calls it the pre-assessment or processing review. This article will describe the reasons why the reviews are done, what the routine review inquiries are, and what you can do to satisfy the requirements and appease … Continue reading Canada Revenue Agency Reviews
Loading... Tax on foreign inheritance Canada
Français Do Canadians pay tax on an inheritance from abroad, overseas, our outside of Canada? This article will answer this question in detail, and provide a summary of inheritance tax in Canada. Estate of Deceased Person outside Canada When a person dies an estate, which is a type of trust, is automatically formed. The estate … Continue reading Tax on foreign inheritance Canada
Loading...Free Online Tax Assessment
Save on Personal Taxes with this Incredible tool!
Save on thousands of dollars every year on personal taxes with this Incredible, FREE tool!
SOCIAL CONNECT