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.
Note: Deadline for eligibility is December 31st of every year.
This being the season of giving and receiving, let’s consider the advantages of donating a portion of your stock portfolio to your favourite charity, instead of donating cash. Donating stock to charity can be an ideal and relatively easy method of giving a portion of your wealth to help others in a tax-efficient manner. Here’s why…
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.”
At GGFL, our responsibility is to our clients, and we are laser-focused on the financial welfare of those people who put their trust in us. Understandably, clients get anxious when there are delays with CRA. So do we. Rest assured, we do all we can to expedite the process.
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.
On the breakdown of a relationship, the various tax aspects of support payments, legal costs, and division of assets are not usually a main priority; however, tax should not be ignored.
A deemed disposition applies if you choose to convert a property from your principal residence to a rental property, or vice versa. This will result in a capital gain or loss on the property realized from the date of purchase until the date of the deemed disposition.
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.