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As the tax filing season approaches, along with taxpayers, fraudsters also become hyper-active. Being informed of tax scams is very important for taxpayers in order to protect their assets and avoid financial and taxation problems since information like Social Security Number, Tax Identification Number, and Electronic Filing Identification Numbers (EFINs) are highly confidential, and once...
Starting a business in the U.S. can be quite a task from registration, choosing a location, to managing initial set-up expenses. The business owner has to prepare for everything. Along with all these initial steps it is also important to be aware of certain income tax points which can be helpful in running a successful...
Earlier in the year, the U.S. government permanently extended a few tax credits to reduce the tax burden on low to mid-income group taxpayers and small business owners. Due mostly to falling fuel costs, in an announcement of the standard business mileage rate for 2016, the IRS announced that the allowed deduction will be calculated based...
As a taxpayer, one should always be informed about one’s tax responsibilities. This includes filing tax returns on time, paying tax liabilities, checking all notices and mail received from the tax authorities, responding to those that require a response, and maintaining record of past years returns and other relevant documents for a certain period of time,...
Being a business owner is not easy, especially if it is at a growing phase; and at this stage it is all the more difficult to concentrate on other aspects, such as: tax payments, miscellaneous expenses or county/local taxes. AG Tax has summarized a few of these issues based on some of our clients’ situations, and...
As the social media world expands blogging and vlogging (video blogs) activities have been on the rise. These activities have become so profitable that many individuals have been pursuing it on a full-time basis, and earning significant income to support their lifestyle. Since blogging is sometimes treated like a paid hobby which can be pursued...
In the recent years, every country has been passing stringent laws to monitor foreign investments by their country’s citizens/taxpayers to prevent tax evasion through foreign investments. The Canadian government introduced Form T1135 a few years ago to prevent Canadian taxpayers from evading taxes, and since then, Canada Revenue Agency has been in a continuous process...
Saving on taxes is all about planning and strategizing one’s investments, sales and expenses in order to qualify for deductions and credits. With that being said, it is very helpful for taxpayers to be aware of qualifying investments & expenses so they can be claimed future on tax returns. For example, were you aware that some investments will provide you...
Individuals often have life insurance policies provided by their employer, whose ownership is transferable to the employee in the case which the employee is retiring, or for other qualifying reasons. Whatever the reason may be, it is important for these individuals to be aware of the fact that this could have tax implications. Since many...
In our earlier article: ‘Liquidation of a Canadian Company from a Tax Administration Perspective’, we discussed the tax process involved when dissolving a Canadian company. However, what if the business owner is simply restructuring the business? What if there is a change in ownership due to growth, tax planning or other business needs? As with liquidation...
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ABOUTAylett Grant Tax, LLP
With offices across Canada, we are positioned to manage and process the full scope of your Canadian, US and US Canada cross-border tax filing needs.OFFICEVancouver
+1 (888) 502-1810New South Surrey office coming January 2025ABOUTAG Tax LLP
With offices across Canada, we are positioned to manage and process the full scope of your Canadian, US and US Canada cross-border tax filing needs.OFFICEVancouver
12752 28th Ave, Surrey, BC, V4A 2P4OFFICEEdmonton
104–4220 98 St NW Edmonton AB, T6E 6A1