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Are Tax Rate Differentials Giving Some NHL Teams an Edge?
Hockey is about skill, strategy, and teamwork—but in today’s NHL, tax policies might play a surprising role in shaping team success. Teams based in U.S. states with no state income ...
Insights
2018 Federal Budget Commentary
Income taxes and capital gains rates unchanged in 2018 Federal Budget Finance Minister Bill Morneau released his 2018 federal budget (the “Budget”) on February 27, 2018 (the “Budget Date”). The ...
Take advantage of CRA’s Current Voluntary Disclosure Program before the less taxpayer friendly “New VDP” kicks in March 1
Canadian taxpayers are often afraid of facing the Canada Revenue Agency (CRA). They might have knowingly submitted incorrect information on their tax returns, mistakenly left out income, or because of ...
Act now before April 1: CRA prescribed interest rate hike not an April fool’s joke
The Canada Revenue Agency’s (“CRA’s”) prescribed interest rate has remained largely unchanged at 1% per annum since April, 2009. This low interest rate environment will likely come to an end ...
Recent U.S. tax reform impacts U.S. citizens living in Canada
The U.S. is in the process of enacting the broadest change to its tax system since 1986. Rather than analyzing each change, the following 2-part series will focus on the ...
Do you rent out your home or claim home office expenses? Know these facts and save on tax!
Do you rent out your home or claim home office expenses as a self-employed individual? One of the most well-known provisions in the Canadian Income Tax Act (“ITA”) allows taxpayers ...
Real estate’s top 4 Canadian hidden taxes
While most business owners are accustomed to paying corporate, personal, and sales taxes, some are not as familiar with several lesser known taxes that can significantly impact the bottom line ...
U.S. tax reform bills have significant impact on U.S. citizens in Canada and Canadian entities conducting business in the U.S.
Both houses of the U.S. Congress have passed different but similar U.S. tax reform bills. The differences will be reconciled by a joint committee of congress and the revised bill ...
Mediation and the deemed disposition: Capital gains tax after death may reduce the value of your estate
As a follow up to ‘A tax trap in estate law mediation’, David Posner, Partner and Charles Wagner of Wagner Sidlofsky LLP discuss how your estate may have to pay ...
Selling real estate? The tax treatment may not be what you think
Many Canadian taxpayers believe the sale of real estate typically receives a more favorable tax rate than other types of income. This is not always the case, however, and selling ...