Search Results for: Top 5 Tax issues
...Job description Reporting to the senior members of the firm, the tax specialist will be involved in tax compliance and tax planning mandates including but…
...tax administration model through an expanded digital offering of services. This investment aims to reduce tax administration burdens on taxpayers. 10. HOTEL ACCOMMODATION TAX REFUND…
...the coming years. Personal Income Tax Measures There are no proposed changes to personal income tax rates for 2024. The income tax rates for the…
...Canadian tax purposes they are taxed to the beneficiary. Because the tax in the two countries are paid by different persons they cannot offset each…
...residency. It is possible to be a tax resident of both Canada and the U.S. under their respective domestic tax laws. Double taxation may occur…
...tax planning. In December 2017, sweeping tax legislation changes in the U.S. dropped the U.S. federal corporate income tax rate to a flat rate of…
...for fight against aggressive tax planning. These measures aim to counter tax planning which, although respecting the wording of the tax legislation, does not correspond…
...U.S. and the Canada-U.S. tax treaty all have different interpretations of what constitutes residency. This article is about US tax residency under US tax law.…
...Canadian tax on the sale of the principal residence, the U.S. person would be barred from claiming offsetting foreign tax credits. Stock Options Under Canadian…
...reduce the US Federal income tax liability on her income by claiming a foreign tax credit. Since her Canadian tax liability is higher than her…
...IRS Form 8288-B showing the amount of the tax withheld with their U.S. federal income tax return and the IRS verifies this withholding amount when…
...tax as a credit against their U.S. tax liability and claim certain other provisions to reduce or eliminate their US tax exposure. Non-filing U.S. taxpayers…
Canadian Tax-Free Savings Accounts (“TFSAs”) can be an excellent way to accumulate savings which will generally never be subject to Canadian income tax while they…
...tax returns even where tax was withheld at source. NRAs can reduce their U.S. tax liability by claiming certain employment expenses or by claiming an…
...gross income earned in the U.S. and denied the related tax deductions. The denial of the tax deductions by the IRS was consistent with the…
...the first tax bracket on certain personal tax credits (which will increase, along with the tax rate, from 15% to 14%). Improvement of the housing…
...the rationale for the firm’s approach. He is largely responsible for expanding the firm’s client and referral education efforts from developing our Top 5 Tax…
...partner, National Post September 7, 2017 http://business.financialpost.com/opinion/the-good-bad-and-downright-offensive-in-morneaus-tax-reform-proposals A description of the tax changes can be found at this link Tim Cestnik, Globe and Mail, July…
...125.4 of the Income Tax Act (“ITA”) and Section 1106 of the Income Tax Regulations 1. Canadian Film or Video Production Tax Credit (CPTC) The…
...Tax brackets Marginal tax rates Proposed tax brackets Proposed marginal tax rates $0 to $32,656 9.65% $0 to $33,328 9.50% $32,657 to $64,313 13.63% $33,329…