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A note on Cryptocurrency
Wikipedia defines cryptocurrency (or crypto currency) as a digital asset designed to work as a medium of exchange that uses strong cryptography to secure financial transactions...
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Baker Tilly Advantage
As a business owner, you need information that’s timely and relevant to drive daily decisions. Baker Tilly Advantage addresses that need by leveraging best-in-class technologies to deliver customized accounting, finance and operational assistance.
The Latest at Baker Tilly Dartmouth
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Cryptocurrency in Canada in 2020
Bitcoin, the very first cryptocurrency, was created in 2009. Ten years and many thousands of cryptocurrencies later, taxation and regulatory agencies around the world are finally starting to realize that cryptocurrencies are here to stay.
A less taxing take on TOSI
The “kiddie tax” was introduced in 2000 to deter income splitting with minor children by enforcing taxation at the highest marginal tax rate on the income received and denying certain personal tax credits. In recent years, new legislation expanded the tax on split income (TOSI), extending beyond minor children to include certain adults as well.
Income received after death
Recently, the Canada Revenue Agency released a technical interpretation to clarify the commentary in the T4001 Employer’s Guide – Payroll deductions and Remittances, and the T4011 guide, Preparing Returns for Deceased Persons, in respect of income payable at death...
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New employee stock option rules delayed
Those individuals who were preparing for the Jan. 1, 2020 implementation of the revised stock option rules will have to wait a little longer. The Department of Finance Canada announced on Dec. 19, 2019 that the effective date of the revised employee stock option rules will be delayed.
Infographic: 4 paths to savings for home buyers
A surprisingly high percentage of home owners, home buyers and real estate professionals (including agents, accountants, bankers and lawyers) are unaware of the tax credits and incentives available on the purchase and renovation of homes in Canada. With that in mind, here are four of the most widely available opportunities.
Shareholders agreements, exit provisions and the impact of control
Control is an important concept for applying certain income tax rules and valuation issues (amongst others) when dealing with corporations...
Transferring wealth during your lifetime
I was reading recently that approximately $30-trillion in assets will be shifting from one generation to the next across North America in the next few decades, according to consulting firm Accenture.
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Not an advantage is advantageous: investment fees paid outside registered plans
For almost three years, investors and their advisors were in a state of uncertainty concerning investment management fees paid outside of RRSP, RRIF and TFSA accounts (collectively “registered plans”).
Five key considerations for Canadians selling to Americans online
Due to the rise of online sales through the likes of Amazon and eBay, a number of Canadians are looking into selling goods online to consumers who live in the United States. Setting up an online business is a great way to supplement your primary income stream, but even if your business is a relatively small undertaking, there are several issues to consider. With that in mind, here are five key considerations for Canadians selling to Americans online.
Donations and your estate
Now that the calendar has flipped to May, accountants in public practice have an opportunity to reflect on the past busy season.
Smoothing the path to relinquishing your U.S. citizenship
On Sept. 6, the Internal Revenue Service (IRS) announced a new tax compliance program entitled “Relief Procedures for Certain Former (U.S.) Citizens” (Relief Procedures).
