The firm celebrated the success of Marcel Hanna and Jay Yang on successfully passing their professional exams

There are several different reasons why taxpayers are selected for a review/audit.  The following list

Prime Minister Stephen Harper has unveiled a package of family-focused tax cuts worth nearly $27-

There have been lots of changes in regards to the cross border planning with IRS lately.

We have lately come across lots of questions and confusion by individuals in regards to their US

One of our least favorite things to do is to inform one of our client’s that they have breached

By now, most of us used one of the popular online storage offerings like OneDrive, Dropbox, Google

When you ask business owners or managers what the most important part of their business is, they will

Nearly all organizations today rely on information technology and the data it manages to operate.

Many people have become aware of their US filing obligations over the past few years, and we continue to receive calls from “accidental Americans” looking for assistance in catching up the US filings.

By Kalin L. McDonald, CPA, CA

The measures put forward by Ontario Finance Minister Charles Sousa in his May 2014

Special US federal income tax and reporting rules apply to US persons that are considered to hold shares (directly or indirectly) in a foreign company that produces sufficient passive income or holds sufficient passive assets to meet the

It is no secret that business communication relies heavily on electronic mail. Most companies cannot sustain long periods

If you are an owner or a stakeholder of a business, you may have at some point come across the terms

Virtually every company in Canada that send emails, text messages, and other commercial electronic communications in the course of their business activities will be affected

RRSPs and TFSAs are the most common form of investment accounts offered by most major banks, trust companies,

On May 1, 2014 Finance Minister Charles Sousa tabled his second Budget. How does it affect you and your business? Read our commentary to find out more. Or download an overview here.

Soon the season of charity golf tournaments will be upon us.  One common question organizers of these

2013 T1 Checklist

Our friends at Cidel Trust recently reminded us of the recent changes to the taxation of “Immigration Trusts” announced

This week we thought that we’d change things up from our usual accounting related blogs and write

Join us at The Annette Silva Women with Drive Golf Tournament on Monday, June 16, 2014 in support of Emergency Medicine at Trillium Health Partners! All golfers will have the opportunity to choose from an 18-hole course or a 9-hole course for beginners where they can sharpen their skills while learning from a pro at Granite Ridge Golf Club, nestled at the foot of the Niagara Escarpment.

As a result of the shut down last week of the CRA website, the government has provided an extension of

Do you employ co-op students or apprentices?

Did you know that the Ontario government will give you money if you do?

On June 25, 2013, the Honourable Gail Shea, then Minister of Revenue, announced the launch of a strengthened Foreign Income Verification statement (Form T1135), to better target international tax

This credit is a non-refundable tax credit offered by the federal government for charitable donations made to registered charities.

Although many professionals own corporations to benefit from lower corporate tax and potential tax-deferrals, should these professionals own a second corporation to achieve income splitting with immediate family members?

US taxpayers living in Canada face a number of new US tax laws and provisions which could impact their 2013

The Federal Government presented its 2014 Budget, “The Road to Balance: Creating Jobs and Opportunities,” on Tuesday, February 11. The Budget includes in its 419 pages approximately $280 billion in

On February 5, 2013 our Finance Minister Jim Flaherty and the US National Revenue Minister Kerry-Lynne

Last week we met with a client who entered into an agreement of purchase and sale to sell his interest

Commencing January 1 2014, the “Affordable Care Act”, also known as “OBAMACARE” will require that

As we embark on a brand new year, we want to wish you continued success in 2014.

We want to take this opportunity to thank you for your business and your continued confidence in our ability to make your business more successful.

Is your business planning on hiring youth for full-time positions, internships or apprenticeships?

The tax treatment of fees paid to private kindergarten, elementary or secondary schools is wholly

As the tax rate on dividend continues to increase, it becomes increasingly important to consider

Recent news coverage of the secure email provider Lavabit, which had previously provided

The 2013 Federal Budget included measures designed to target certain life insurance investment

Earlier in 2013, the CICA released Section 3462 – Employee Future Benefits of the CICA Handbook.

STEP is the worldwide professional association for practitioners dealing with family inheritance and succession planning. STEP helps improve public understanding of issues families face in this area and promotes education and high professional standards among its members.

By now, most of us heard about crypto-currencies like Bitcoin.  A utopian dream of a currency free of

In today’s rapidly evolving landscape, it is not uncommon these days for IT administrators to permit employees to use personally-owned devices to securely access privileged company data and applications.

We previously discussed the concept of refundable tax and RDTOH in the blog article dated April 11, 2013.  We now continue with a specific example which computes the corporate tax calculated on four common types of investment income as well as the net cash-flow to shareholders after personal tax consequences. 

With how fast technology advances, business owners invest in their IT systems and network infrastructure in one way or another. This is usually brought about by growth, and improved productivity and efficiency goals.

For anyone that was considering lending money to either minor children or to a spouse, please ensure that you document and advance the loan prior to October 1st.

Imagine carrying your office phone everywhere you go! Call and Receive calls when working in the office, from home and even on the road as long as you have access to the Internet

LOGiQ³ is currently seeking an Accountant to join our dynamic and fun team of industry experts.

LOGiQ³ encourages continuous education and learning and actively supports those needs in the insurance and reinsurance space. As our business continues to grow, we are looking to expand our staff with high caliber individuals who can help us meet our day-to-day obligations and also bring creative thought processes to bear. We give our employees the Freedom to Think.

The Ontario government recently changed the law regarding WSIB coverage in the construction industry. Effective January 1, 2013 mandatory WSIB coverage is required for nearly everyone working in the construction industry.

The Canada Revenue Agency (CRA) has announced new measures to combat international tax evasion

How do you review your business is performing and how often?

This is a program which allows an individual to withdraw funds from their registered retirement savings plan (RRSP) to buy or build a qualifying home for themselves or for a related person with a disability. A maximum withdrawal of $25,000 can be made in a calendar year. Only the individual who is entitled to receive payments from the RRSP can withdraw funds from the RRSP. Amounts may be withdrawn from multiple RRSPs as long as the individual is the annuitant for each.  

Our very own Paul Keul, CA is featured in an article in this month's Advisors' Edge magazine!

CLOUD AND PRIVACYNot many users of free Cloud services like Google, Yahoo or Facebook are aware that their e-mails are scanned for information in order to show targeted and relevant advertisements. Some may say, "It is Ok, as long as no humans are actively reading my e-mails." William Binney, who is a former National Security Agency (NSA) employee, has informed the public that the NSA is collecting private e-mails and storing them in a database.

Taxpayers who must file a foreign affiliate information reporting form T1134; have faced a certain amount of uncertainty since the Canada Revenue Agency ("CRA") released a new version of the form on January 10, 2013.

Over the past few years the Canada Revenue Agency has increased the number of processing reviews for business expenses claimed by self-employed individuals. In particular, they have been requesting additional backup information for the following expenses:

1. Business Use of Home Office;
2. Other business expenses such as gifts to clients and customers (particularly in the real estate sector);
3. Business Use of Vehicle.

If adequate backup information is not provided they are denying the deduction(s) which will result in taxes payable plus interest on the balance dating back to when the original tax return payment was due.

US immigration bill extends Canadian snowbirds time spent in the US

2013 Ontario Budget Commentary

On January 2nd 2013, the US President signed into law the American Taxpayers Relief Act (ATRA). This law is the fruit of a last-minute deal reached between the two parties in the US legislative branch alongside the Executive branch in order to avoid the “fiscal cliff” that many experts could have had a negative

FROM OUR IT CORNER: PROACTIVE NETWORK CARE - LEVEL PLATFORMS

Earning investment income in your Canadian Controlled Private Corporation?

Please Join Us for The Annette Silva "Women With Drive" 2013 Golf Tournament - June 13th

The thin capitalization rules - 40 years later

Update on US fiscal cliff deal - the American Taxpayer Relief Act 2012 (ATRA)

 The Annette Silva Women With Drive Golf Tournament - Thank you!

Annette Silva