Questions Archive

183-day rule in 12 months

Is the 12-month starts from 1st Jan to 31st Dec? If so, stay from 1st Aug to following year 31st May still within 183-day rule in 12 months?

Non-tax resident of any country

I am a freelancer who considers abandoning Canada, severing all ties and travelling across the world. Can a person be a resident of no country? I have 3 citizenships, including Canadadian.

Hi, When you hold a holding company, do you file a corporate tax return and financial statement annually too? Thank you so much for your advice about flowing money through my company to a holding company to buy a personal residence and I need to really consider the annual expenses of annual filings for a … Continue reading

Financial Statements and Corporate Tax Return

Hi, do you charge a separate fee to file a financial statement vs a corporate tax return for a small business? It’s a professional corporation, with minimal overhead (office in house and minimal expenses). I’m currently getting charged around 50 percent more to file my financial statements from an accountant than to file a corporate … Continue reading

Tax implications when converting real estate from joint to sole ownership

About 14 years ago we helped our daughter to purchase a house. The house is registered on our 3 names in equal parts. My daughter lived (and still lives) in the house all these years and it’s her principal residence. No part of the house was never rented or otherwise generating any income. Now we … Continue reading

The best Tax Structure for two partners owing 3 rental properties

Hi Allan, Thank you so much for all the useful information posted on your website and on youtube, your videos are concise and very informative. I have purchased real estate (3 pre-construction condo’s) that will close aproximatly 3 years from now. They’ve be purchased with ONE other family member as investments. What is the best … Continue reading

Personal Home Sale to Nephew

Hi i want to know tax consequences of selling my personal home to my nephew below market price and also he will not pay me lump sum rather over the years lets say $20000 every year. This is the only home i have. And i am a retiree with only pension income. Thank you

Would US LP investing directly into US LLC Avoid double taxation for Canadian?

I have an investment opportunity into a pooled special purpose vehicle that has been setup as a US LLC. Reading your resources indicates that investing directly in a LLC leads to double taxation. Would a structure of a US LP investing directly into the LLC be a viable alternative?

SR&ED tax credit & expenses which are included for this purpose

Hi Allan, If someone pays for one app for example $300,000, and it is a new app, is it possible to consider some of expenses of it as SR&ED in order to get tax credit? If yes, how can I determine which expenses are included as SR&ED? And Which for should I fill out in … Continue reading

Canadian Apprentice Seeking To Work in the U.S.

Hello, thank you for your passion and expertise. I’m a certified rock guide apprentice from canada – this means I am working my way to a full guide but at this time i am in a mentorship phase – though i can be employed and work with the public. I want to be in California … Continue reading

Canadian residing in USA on TN visa, investing in real estate in USA

I am a Canadian citizen working in the US on TN visa. I wish to invest in rental property in the U.S. However, to get credit lines for investing in multiple rental properties, I am asked to form an LLC. However, your advice is that LLC will lead to double taxation when filing taxes in … Continue reading

Non capital Loss transfer

We control two corporations – one corporation is dissolving due to non viability, this corporation has $200,000 in non capital losses. Can our second corporation acquire this corporation and utilize the losses against previous and future gains?

Canadian Company, Canadian Employee, Canadian Dollars, working remotely, temporarily, partially – tax implication with the IRS??

Are there any tax implications for a Canadian employee, working for a Canadian Corporation, paid in Canadian dollars? Total time in the US is about 20% of the annual hours.

Voluntary Disclosure

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183-day rule in any 12 months