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Not being aware of deadlines or changes in deadlines when it comes to filing tax returns and related forms (along with their respective payments) can further increase tax expense due to penalties and interest payable in case of late filing or late payment. Additionally, preparing for your taxes early not only keeps you ahead, but...
Rental property can be a great investment. If you are able to purchase a property and rent it out you could potentially have someone else pay your mortgage on the property. Maybe you want to buy a ski lodge in Whistler; maybe a cabin on the lake is more your speed. Either way, if you...
If you are an artist, i.e. an actor, musician, sculptor, or any other type of artist you could qualify for tax deductions and tax credits that are not available to other people. You are even allowed longer periods of losses for tax purposes by the Canada Revenue Agency (CRA), provided they are supported by legitimate...
Recently there has been quite a commotion surrounding IRS Form 3115 ‘Application for Change in Accounting Method’, pertaining to the most recent tangible property repair regulations. Given the complexity of the numerous rules to complete the form, many taxpayers are confused whether they should file Form 3115, which is required for reporting any change in...
Canada has long been one of the preferred places to complete film projects by foreign producers due to the various federal and provincial tax credits available. The Canadian government has been proactive in encouraging investment by domestic and foreign producers by instituting tax credits to help offset the cost of production. This has had a...
With the availability of the internet and e-commerce, it has become far easier for individuals to start their own business. Starting a business is a big decision. Along with dealing with competition and day-to-day management, every business must comply with various tax laws and reporting requirements. One has to be up-to-date with their tax returns and...
Many self-employed individuals are personal service providers, and often there is confusion about the tax treatment of their business. A question that is frequent amongst the corporate clients of AG Tax is whether their business will be subject to either corporate tax or personal services business tax. Given the frequency of this question, our tax...
Canadian Small Business Deduction At AG Tax, we often have our corporate clients inquiring about deductions or credits which they could rely on to save taxes. Although there are many useful credits and deductions, one deduction worth mentioning is the small business deduction, on which our tax analysts have prepared this article which could be...
According to Statistics Canada, in the year 2013 more than 25 million non-residents individuals (including U.S. persons) visited Canada; it is likely that out of these 25 million a significant number of individuals visited Canada for work purposes as an employee and received ‘Canada-sourced’ income. It is important for non-resident employees working in Canada, and their...
Canada-sourced income is taxable in Canada, irrespective of whether the company or individual fulfills the ‘resident’ requirement or not, and in order to prevent non-residents who perform services in Canada from avoiding paying Canadian income taxes on the services income earned in Canada during their temporary stay, the Canadian government requires the payer to withhold...
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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