US estate tax can apply not only to US citizens, but also to Canadians who hold US assets. US and cross-border tax is a unique specialization that is in high demand today, because many clients have US and cross-border tax issues to consider.
Since I have been here at GGFL, it has become very apparent how much the firm truly values its people and places a high priority on mentoring, staff satisfaction, and continued professional development,” she adds. “This is a place where everyone’s ideas are valued and good decisions can be implemented quickly and locally.”
Last week, we shared an article on the New Canadian Standards for Review Engagements and Auditor Reporting Standards. In response to changing standards, accounting firms need to keep pace and have internal structures in place to ensure that staff fully understand what is changing and when. This is where a Director of Standards plays a […]
Like all professional governing bodies, Chartered Professional Accountants of Canada (CPA Canada) often changes or refines industry standards, and has recently issued two major changes that impact all accounting firms and their clients.
We all know that tax planning is an integral part of Estate Planning. From knowing the potential tax exposure to planning to mitigate that exposure, individuals tend to place tax planning high on the priority list. There are, however, many non-tax considerations that should be discussed when preparing a well-thought-out estate plan. This article covers just few of the many items we have come across in our estate planning practice.
Beware of phone calls, mail, emails, and text messages claiming to be from the CRA. In this article, we cover examples of common attempts at CRA email fraud.
President Trump signed the Tax Cuts and Jobs Act into law on December 22, 2017. A number of measures could result in tax increases for U.S. citizens living in Canada. This article provides a brief overview of some of the changes.
As a shareholder of a private corporation, it’s important to know the options and tax planning before you sell your shares. Planning for the structure of the sale now can result in considerable tax savings.
On July 18, 2017 and December 13, 2017, the Department of Finance introduced changes to the taxation of dividends that an individual receives from a private company. Many people who receive dividends from a private company could see that income taxed at the top personal tax rate without the benefit of the personal tax credits.
On December 14, 2017, the Federal Government adopted proposed changes to the rules relating to work-in-progress (WIP). As a result, professionals will no longer be entitled to elect to exclude WIP from their income.