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NR4 received

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Software as A Service Lifetime Subscription Asset or Expense?

I’m looking at buying some WordPress plugins which are generally software as a service with an annual subscription. Some of the plugins, however have a lifetime subscription option for a lifetime subscription update. The annual subscription I would normally book as a prepaid expense reducing the value over 12 months. But if it’s a lifetime … Continue reading Software as A Service Lifetime Subscription Asset or Expense?

UAE and employment Expenses

Hello Alan, I work in UAE and I am considered tax resident in Canada as my family is living in Canada.My question is, if I am receiving a fixed monthly transportation allowance from my employer in UAE and I am reporting this amount as part of my taxable income with the salary, can I in … Continue reading UAE and employment Expenses

Doing Business in the US

Hi there. I live in British Columbia Canada and do real estate investing in the United States. I dont actually buy and hold any properties, just fix and flip and wholesale. I dont currently have a business set up in either country and am wanting to know the best way to do this. I do … Continue reading Doing Business in the US

How to withdraw from Business account

Hi, My husband recently need to incorporate his IT consulting business. How do I withdraw money from the business account to pay for our family expenses?

Canadians Doing Business in America

Hi, I am a Canadian Citizen. I want to open a US company to purchase real-estate in the US. I will be getting funding from US banks. I want to avoid being taxed-twice. I have a job in Canada which sustains my lifestyle. I do not plan on taking personal income from the US business … Continue reading Canadians Doing Business in America

Am I resident for tax purposes?

I arrived in Canada on the 5th of March, 2020 to start a full-time job in the Toronto area for which I can a Work Permit for 2 years. I am not authorized to work in any other occupation or for any other employer. My letter of employment says that I have employment for an … Continue reading Am I resident for tax purposes?

Can new comer uber driver who never filed tax return apply for eI

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DPST lost in my 2019 tax

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Rental property deductions

Hello, I bought a property in May 2019, with FULL intentions to rent it to students for the Sept 2019 start. (Emails to contractor and work support my intentions). I probably could have rented it out but wanted to repair things and bring back to the original condition. Anyway, my contractor quoted me about 67k … Continue reading Rental property deductions

t2 SCHEDULES

Hello, What are the T2 schedules that a corporation needs to fill out if it only runs an online business through a third party site like ebay/amazon? The corporation has no holding co and no investment income but if it decided to have these in the future what would those schedules be?

uS citizen selling cottage in canada

Hello I was wondering what the cost is calculated if I an from USA citizen selling a cottage in Canada. Thank you Dom

tax free allowance from a corporation

Hello, If I incorporate, and Only Take dividends from my corporation. Is my corporation still able to give me A Tax Free Allowance for my Home office and Vehicle, if im not taking any salary? Thank You

Residential Status

Hi madan,As a temporary resident i left canada in Feb 2019 and returned in Oct 2019 as a permanent resident, for first 2 months i got T4 from my employer and I maintained my rented apartment in Canada and paid rent for the same through out the year.Also my canada bank account and credit card … Continue reading Residential Status

Income Exempt Under A Tax Treaty

I am a Canadian resident and receive my pension from Romania. Can I deduct any amount as “Income exempt under a tax treaty” based on the fact that Romania and Canada have a tax treaty?

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