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Moving south While keeping Ontario Incorporation.

I have an ontario corporation that I use for some consulting work. I am planning to move to the US for few years and I was wondering if I can keep my ontario corporation without any tax implications. I understand the residency requirement for ontario corporation and I can solve that by adding new directors. … Continue reading Moving south While keeping Ontario Incorporation.

Cross Border Tax issue when renting primary residence in canada.

I am planning on moving to the U.S. for a 5 year period using a non-immigrant visa. I have a primary residence in the NRC. Real-estate market is a bit slow this time of the year around the NRC and I am evaluating sell vs rent options and wanted to understand the tax implications. If … Continue reading Cross Border Tax issue when renting primary residence in canada.

If I have $10,000 in a foreign bank account and a personal use foreign property Over 100k CAD, do I need to file Form T1135?

Hi Allan, I have a question so thought of reaching out to you. Before that I would like to thank you for your blog posts , they are very informative and useful.I would like to appreciate you for these blog posts. Great Job. I have a question related to T1135 form (related to Specified foreign … Continue reading If I have $10,000 in a foreign bank account and a personal use foreign property Over 100k CAD, do I need to file Form T1135?

If a person has say for example 10,000 dollars in a foreign bank account and a personal use foreign property above 100k CAD , does he/she need to file T1135 form?

Hi Allan, I have a question so thought of reaching out to you. Before that I would like to thank you for your blog posts , they are very informative and useful. I would like to appreciate you for these blog posts. Great Job. I have a question related to T1135 form (related to Specified … Continue reading If a person has say for example 10,000 dollars in a foreign bank account and a personal use foreign property above 100k CAD , does he/she need to file T1135 form?

how much is total rate tax ( federal and ont tax) for small business in toronto and is there any exception?

How much is total tax rate ( federal and ont tax) for small business in toronto and is there any exception?

I have a LLC partnership in the U.S., when do I need a U.S. Tax I.D. Number?

Hi, Im a Canadian, living in Canada and have partnered together with 4 US citizens/US residents to form a LLC based in California. We are a SaaS developer, with no earnings, to date. Do I need a US tax ID # now? I’m confused by the statement only needing to send in the Form W7 … Continue reading I have a LLC partnership in the U.S., when do I need a U.S. Tax I.D. Number?

Departure Tax and Selling Shares in Future

Dear Allan, Thank you for the videos you posted online. They are very informative. I’m going to move back to Hong Kong for retirement, but I would like to keep my investment account with BMO InvestorLine in Canada. I understand that upon my departure, I have to pay a departure tax on “deemed disposition” of … Continue reading Departure Tax and Selling Shares in Future

Would It Be Better For Tax Purposes To Register Multiple Online Stores Under One Corporation Or As Individual Businesses?

I am wanting to start an online webstore and open more in the near future. Would it be better to register each as an individual business or register each separately? I would like to get this started right the first time rather than having to backtrack and correct it in the future.

How can double taxation be avoided for corporations

A group of Canadian investors are looking to purchase, renovate, and resell properties in the US under a corporate entity, what corporate structure will ensure no double taxation and should the corporation be a US or Canadian one?

Earning U.S. Dollars Living in Canada

My wife and I have recently moved from Los Angeles to Ontario. I am currently self-employed and earning USD from a US-based company, and will soon be looking for a tax professional to ensure we take all possible steps to ensure we comply with both US and Canadian tax requirements (and ideally come out ahead).

What is required for cross border shipping within a business?

I came across your site and articles on the internet and hope that I found someone that can help me. We are in the process of launching our ecommerce site and will be drop shipping products within Canada and the US and recently been asked my one of my vendors for our federal I.D #. … Continue reading What is required for cross border shipping within a business?

Personal Canada and US tax

I am living half year in US and half year in Canada, I am Canada Citizen and US Green Card, have permanent residence in both countries, what i know is that as a green card holder, I have to file my global income in US, but seems I am also a Canada tax resident, and … Continue reading Personal Canada and US tax

Prior year adjustments

Hi We are a small corporation with no employees (incorporated Aug, 2013/ year end 31 Dec). We had an accountant doing our taxes for the past two years. Some of our expense and balance sheet accounts from the FY13/FY14 are not correctly stated. The net impact on income/loss is minimal, if at all. I am … Continue reading Prior year adjustments

Can I work remotely while I am visiting the States -while I am Canadian with a Canadian Job?

I’m considering visiting a friend in the USA for 6 months and am a Canadian with a Canadian job. I want to work remotely while I’m there visiting in the USA. I will still be paid into my Canadian bank account an plan to return. Is there anything I need to do?

Reporting Non-US income on US tax returns

I worked in US from January 2015 to October 2015 on a non-immigrant visa. I move to Canada in November 2015 on a temporary work permit. Do I need to report my Canadian income (Nov-Dec 2015) on my US tax returns for 2015. Please note that I am not a permanent resident of either US … Continue reading Reporting Non-US income on US tax returns

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