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In 2014, the US Government passed the taxpayers Bill of Rights to protect a taxpayer’s fundamental rights when dealing with the IRS (For more information read: Make Way for the U.S. Taxpayers’ Bill Of Rights). Here is a brief overview of these tax rights covered under the taxpayer bill of rights prepared by AG Tax...
Times are changing as the Canada Revenue Agency (CRA) specially requested taxpayers for their consent to share personal details, such as their address, with Election Canada by putting a ‘check mark’ in the box located on their income tax return. With Bill C-51, also known as the Anti-Terrorism Act, the CRA will be able to share...
Are you constantly getting emails regarding: if you ship your product to Canada? Did you know that consumers in Canada are spending more time shopping online than ever before? In the past year, over eight in ten Canadians have made a purchase online, and the average amount of reported spending annually (per Canadian) for online...
It is always good practice to start working on your taxes early. Not only does it provide you significant time to prepare your return, but can also allow for the exploration of various tax scenarios. However, for taxpayers with complicated tax returns that require professional assistance to prepare, the first step towards preparing their tax return...
Whether to levy or not to levy State Sales Tax on online sales has been in the talks for quite some time now. For instance in 2013, there was the famous Amazon and Overstock v/s the State of New York (NY) case regarding the “Amazon laws” (Read: Sales Tax for Internet Based Online Sales) where big online...
In many cases, people use their homes as offices during the start-up phase of their business to manage their expenses, and at times simply because of the convenience as he/she may have children or dependents that they need to look after While working. Some individuals may also be renting out a portion of their home...
Many U.S. companies are doing business in Canada and as a result could be subject to Canadian taxes (along with certain tax withholding requirements). U.S. incorporated companies are subject to U.S. taxes on their worldwide income which includes Canadian income. Thankfully the U.S. – Canada Tax Treaty addresses many situations in which corporations would normally be...
In one of our earlier articles: Beware that your Non-U.S. Financial Institutions May Be Sharing Your Financial Account Information with the Internal Revenue Service, we discussed Inter-Governmental Agreements (IGAs) that the U.S. government had entered into with the tax authorities and financial institutions of other countries to successfully implement compliance with the FATCA regulation imposed on...
Importing and exporting is a key feature of the modern world, and because of the ease of importing and exporting we now have access to a wide variety of international products without leaving our homes. In Canada, there has been a significant increase of importing in the recent years by non-resident corporations, one of the...
Many people are beginning to appreciate the power of expanding their business through the internet. It can easily expand a product’s potential buyers from thousands to millions by providing easy access to the global market, including the largest capital market, the United States of America. Many Canadian businesses have already taken advantage of such opportunities by...
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