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Question

Working as a consultnt for US Compny without any entity in Canada

Hi Allan, Me and my wife have recently moved to Canada from India and our previous employer in US wants to continue with us as consultants. They asked us to send the invoice and will pay us in Canadian dollars but they do not have any Canadian entity. I wanted to know the best way … Continue reading Working as a consultnt for US Compny without any entity in Canada

80k in dividends

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Set up Online Business & Rental property business

Hi Mr. Madan, I am going to set up an online business and a rental property business. I have a few questions in mind before I set up a meeting with you. 1. How much for setting up a new corporation company? What if more than one company, how much you will charge for that … Continue reading Set up Online Business & Rental property business

Can Sole Proprietor have 100% foreign business income

Hi Allan, I am working as a freelance technical solutions provider in a mideastern country. Due to my family and home being in Canada, I am a Canadian Tax resident. As of now, I just send monthly expenses to my family. But can I set up a sole proprietorship in Canada and declare my overseas … Continue reading Can Sole Proprietor have 100% foreign business income

Canadian Doing Online Business in US

Hello, I am a Canadian tax resident and I am building an online business which I wish to register as an LLC in the US. I have, until now, only ever operated a business as a Canadian sole proprietor (in Ontario) – providing freelance services. Very simple. Now, I really need advice. It’s easy to … Continue reading Canadian Doing Online Business in US

Sub contractor — Courier

Do Couriers Need Buisness Number To Claim Expenses In Canada

Dividends Paid to Family Member of Medical Doctor

Hi Allan, I wanted to discuss the best way to deal with pending tax changes for money held within my professional corp. How are accountants, lawyers, doctors, dentists dealing with the potential changes? It seems like the tax changes have their eyes squarely focused on going after money retained within the corp. I know they … Continue reading Dividends Paid to Family Member of Medical Doctor

Registraion on your forum

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What is the Tax implication in canada as i am working from canada and getting salary in india after TDS in my NRO account in India ?

Hi, I am a PR card holder in canada, working for indian organisation electronically and visit India for 15 days twice a year. My employer is paying salary after deducting Tax Deducted at Source (TDS) and Provident Fund etc in my NRO account in India. Q1. While filing my Income tax return in canada, i … Continue reading What is the Tax implication in canada as i am working from canada and getting salary in india after TDS in my NRO account in India ?

What is the best way to sell realestate held in corporation?

Hi, Me, my sister and mother own a small commercial building in a corporation. We want to sell the property. Should we make it a share or asset sale? The intention is to use the money from the sale to purchase a house that will be my mothers and sisters primary residence. Me and my … Continue reading What is the best way to sell realestate held in corporation?

Independant Consultant

I will be a independent consultant for a USA company. Do I have to charge them GST and PST on my invoice. Please advise. thank you What accounting software do you use or recommend to keep my books in order?

Capital Gain Tax on property

My mom and I purchased a condo in 2005. I lived with her for 4 years and moved out. The condo is her primary residence since 2005, and my primary residence for 4 years from 2005 until 2009. We are planning to sell the condo this year. 1) What will be our tax liability? Assume … Continue reading Capital Gain Tax on property

Sale of primary residence

My girlfriend and I are looking to sell her condo which we have been renting out for the last 2 years. She owned the condo for 8 years total; with it being rented out for the last 2 years while she lived with me. Is the capital gains calculation straight forward. Meaning, since we live … Continue reading Sale of primary residence

i want to pay myself in my business with T4, how can i do it?

i want to pay myself in my business with T4, how can i do it?

unbalanced Trail Balance

Hello Allan, The 2017 unbalanced Trail Balance shows a debit balance equal to the bank statement begging balance 1 jan.2016. Could you explain how to correct this error please? Thank you

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