Please wait, loading...
When the Canada Revenue Agency (CRA) started their investigation with Canadian charitable organizations, they reviewed each of the charitable organizations registered in Canada and removed quite a lot of them from the qualified charitable organizations list. In 2014 the CRA moved on to verifying foreign charitable organizations that qualified for the same tax-exemptions as domestic...
The Surface Transportation Act was passed in 1982 to address concerns about the surface transportation infrastructure (highways and bridges) across the United States. For the fiscal year 2016 budget, the government proposed to allocate a significant amount towards this Surface Transportation Act of 2015. Unfortunately, the government failed to arrive at a conclusion regarding the...
In Budget 2016, Prime Minister Justin Trudeau replaced the Universal Child Care Benefit (UCCB) with the Canada Child Benefit (CCB), with an objective to support growth and development of the middle and lower classes to build Canada. The Canada Child Benefit (CCB) amount is adjusted to include inflation. Here is a summary by AG Tax professionals on Canada...
There may come a time when a Canadian business owner no longer wishes to continue their business, and would like to liquidate or wind up the company. Often people assume that by simply stopping the business activities and services, a business is closed, but that’s not the case. By liquidating a company, the individual is...
Almost everybody has a hobby. While someone may love baking and trying new recipes for fun, another may be obtaining baking orders from neighbours, colleagues, and/or friends to generate additional income. What could be better than doing what you love, and earning from it as well? Although enticing, when this income becomes regular, or is...
People often borrow money from their friends, family, or from a financial institution to either fund a real estate purchase or make an investment. There are times when taxpayers will borrow money to purchase a good mutual fund investment or shares of a company. The money borrowed often requires that the taxpayer pay a sum...
It is a common fact that when it comes to saving the more time one gets to save the longer the asset has to grow into a substantial amount. This wisdom also applies to saving towards your child(ren)’s education goals. A few weeks ago, we had a client couple visit AG Tax who wished to know about beneficial ways to...
Virtual stores are the latest trend, as they are an easy way to do business without the need to have a physical shop. With a virtual store one can reach out to a vast audience beyond where the store is located. However, while planning to operate an e-commerce business and sell online, one needs to...
As experienced tax preparers, we often notice that some taxpayers have a hard time gathering and arranging the necessary documents, such as: invoices, receipts, bills, etc., and sometimes even missing items such as copies of previous years’ tax returns, regardless of whether they are individual or corporate tax filers. This often complicates the tax filing process and...
Now that most people have filed their tax returns, it is likely that many taxpayers would be receiving mail from the U.S. Internal Revenue Service (IRS). Some notices are for informational purposes only, which do not require a response, while some notices require immediate action. It is advisable that taxpayers should check all mail received from...
© AG Tax LLP | All Rights Reserved | Website by Aroma Web Design Vancouver
© AG Tax LLP | All Rights Reserved | Website by AromaWebDesign.com