Small business owners have a lot on their plates. A smaller team means in many cases that the owners have to wear multiple hats, playing several different roles at once. ...
Israel becomes major global medical cannabis player after green lighting cannabis exports
After several years of deliberation, last month Israel approved the export of medical cannabis cultivated within its borders. The Israeli Knesset unanimously gave the green light to the law[1], which ...
Increased compliance burden for US expatriates who own CFCs
The IRS has released new forms required for US citizens who own foreign (e.g. Canadian) corporations which are treated as Controlled Foreign Corporations (CFCs) for US tax purposes. The penalties ...
2019 Federal Budget Commentary
Finance Minister Bill Morneau released his 2019 Federal Budget on March 19, 2019. The Budget forecasts a deficit of $14.9 billion for the 2018-2019 fiscal year, but is expected to ...
Relief Provided from GILTI tax for US Expatriates
As part of the US tax reform in late 2017, US citizens who owned Canadian corporations which are CFCs were subject to a repatriation tax on an amount approximating the ...
Online cannabis retail: Is Ontario failing small businesses?
The Alcohol and Gaming Commission of Ontario (AGCO) has recently announced that legal cannabis stores in the province will not be able to offer online retail services to their consumers[1]. ...
SaaS entrepreneurs face unique accounting and tax challenges
It’s been estimated that by 2020, 73%[1] of organizations will have transitioned at least 80% of their apps to SaaS solutions. In 2018, Gartner predicted a 23% spike in SaaS ...
How interest rate swapping can save you money
At Zeifmans, we’ve spent decades working closely with small business owners as they set goals for the future, create strategies to achieve them, and develop the infrastructure to maintain that ...
Taxation of cannabis businesses in the US: the do’s and don’ts
While a number of US states have legalized marijuana and cannabis based products for medical and/or recreational use, the US federal tax rules take a harsh perspective on the deductibility ...