TaxTrends Newsletter Issue 59

Office in Home Employee Expense Deduction – Simplified Process Announced December 15, 2020, due to COVID, Finance and the CRA have an administrative policy for employees working at home to claim a flat $400 Office in Home deduction ($2 day to a maximum of $400) without an employer T2200 form. The employee must have worked […]

TaxTrends Newsletter Issue 57

Personal Services Business (PSB) is Bad News. Financial Disaster Awaits Those Who are Affected! It may seem to be a great idea to have a small corporation that you use to earn your income: You may be a current employee, but your co-workers have all ceased being employees and instead incorporated their earnings and are […]

TaxTrends Newsletter Issue 56

Do you have a United States (US) Tax Problem? 3 Questions to ask yourself: Are you a US Citizen already? (you may not know it – but you could be). Do you have a US Green Card or Expired Green Card? (work or may have worked in the US). Do you spend, on a 3 […]

TaxTrends Newsletter Issue 55

Estate Planning One of the growing more common estate planning points is to “gift” property to adult children/grandchildren/etc. before death so that the property is no longer part of the estate and therefore is not part of the Will. “Gifts” of property (investments, real property, etc.) create a deemed disposition whereby the transferor recognizes a […]

TaxTrends Newsletter Issue 54

  Do you, your corporation, or any other legal entity you own or have a beneficial ownership in ‐ own residential real property in BC (rented, occupied yourself, or vacant)? If so, you have an important designation to make by March 31, 2019! The BC Speculation and Vacancy Tax (SVT) is intended to target foreign […]