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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...
Being a U.S. person (subject to U.S. taxes) living abroad can at times be the beginning of a U.S. tax nightmare. This can appear to be quite unfair, especially when one has had a Canadian residence established outside of the U.S. for quite some time. If you are an American citizen or green card holder, it is...
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...
The streamlined ‘Offshore Voluntary Disclosure Program’ (OVDP) introduced by the U.S. Internal Revenue Service (IRS) in 2012 allows U.S. Persons holding foreign financial accounts to disclose these details to the IRS if they did not file the FBAR, 1040, or other qualifying forms as required by the IRS. If accepted, the taxpayer would be eligible...
Rental real estate owners are often faced with the dilemma of whether to keep their rental properties or to dispose of them due to the expenses incurred in maintaining and managing them. Since the losses qualify as passive activity losses, they can be claimed only against a passive activity income. Recently at AG Tax we...
The Canadian government provides a number of tax benefits that parents can claim on their tax return to reduce their tax burden. In fact, most reviewers are of the opinion that the budget for 2015 is most beneficial for taxpayers with children below the age of 18. Unfortunately, parent taxpayers often forget some of the...
If you have recently received a letter from the Internal Revenue Service (IRS) that references ‘Letter 5071C’ on the top right corner of the page, you should respond to it as soon as possible. The reason for responding as soon as possible is because this letter is issued only when the IRS puts the processing...
Every year, retirees from across Canada take a trip to the southern United States to escape the harsh winters at home. For years, these snowbirds have been hoping that the U.S. government would pass a bill which would allow them to extend their stay and, finally, there may be some hope. However, there are material...
When foreign companies start operating offshore, they might not always be aware of the tax laws of the foreign country where they are doing business. To raise awareness, our AG Tax experts have prepared an overview of the various types of tax issues a foreign corporation may face while operating in the U.S. What is...
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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