taxpayer Archives - Aylett Grant Tax, LLP

IRS-Issued Health Insurance Tax Tips for U.S. Taxpayers

March 6, 2014

[image url=”http://www.agtax.ca/wp-content/uploads/2013/01/us-canada-tax-basics1.jpg” alignment=”center” margin_left=”0″ margin_right=”0″ margin_top=”0″ margin_bottom=”0″ width=”200″ height=”167″] With the Affordable Care Act (Obamacare) now in place, U.S. taxpayers should be aware of the minimum health insurance requirements. From 2014 onwards, the U.S. Internal Revenue Service (IRS) will require all taxpayers to disclose about their health insurance coverage and exemptions, if any, in their...

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TFSA Withdrawal Rule & Tax Penalty

March 3, 2014

Tax Free Savings Accounts (TFSAs) are one of the most convenient ways for most Canadians to build up tax-free assets to fulfill their financial goals or build up an emergency fund. However, most Canadians seem to be unsure in regards to certain rules applicable to TFSAs, which could lead to severe penalties. The Canada Revenue...

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CRA’s Audit Selection Basis

January 10, 2014

Often, when taxpayers receive mail from the Canada Revenue Agency (CRA), the first question that pops in anyone’s mind is “Why me?“(or they’ll simply avoid it) assuming it could lead to the ever-daunting audit. It is important for you, the taxpayer, to understand how the CRA approaches reassessment, and which actions tend to attract their...

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Taxpayer Benefits from Canada-Hong Kong Treaty

December 2, 2013

On October 29, 2013, the Canadian government formally ratified a tax treaty with the Government of Hong Kong Special Administrative Region of the People’s Republic of China (Hong Kong). This treaty, (originally signed on November 11, 2012) minimizes the possibility of tax discrimination and double taxation, and further encourages healthy trades between Canada and Hong...

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Tax Tips for Canadians

August 14, 2013

It’s never too early to start planning for your next tax filing. AG Tax professionals can assist you with your taxes, and give you qualified advice so you can adequately plan for your next filing. Here are a few helpful tax tips that Canadian taxpayers should keep in mind when analyzing their tax situation: • Take...

taxpayer

IRS-Issued Health Insurance Tax Tips for U.S. Taxpayers

TFSA Withdrawal Rule & Tax Penalty

CRA’s Audit Selection Basis

Taxpayer Benefits from Canada-Hong Kong Treaty

Tax Tips for Canadians

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