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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.
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Canadian taxation of employee stock options: the winds of change
As promised in the 2019 Federal Budget, draft legislation restricting the preferential treatment afforded to employee stock option plans was released on June 17, 2019. Currently, the preferential treatment, which is provided to all corporations, is a 50 per cent reduction in the taxable benefit to the stock option holder, provided specific criteria are met.
The Latest at Baker Tilly Ottawa
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Purifying your farm corporation
Purified farm corporations have access to some major tax advantages, including the lifetime capital gains exemption and the ability to transfer assets to the next generation at cost. In order to qualify for these opportunities, 90 per cent of your farm corporation’s assets need to be active farming assets. If non-farming assets exceed 10 per cent, you will no longer qualify unless you remove some of these assets. This article will take a closer look at the tax opportunities available to purified farming corporations and the steps you can take to ensure you have access to them.
Baker Tilly’s David Kemp repeats as a world leader in transfer pricing
Toronto, ON – Baker Tilly partner David Kemp has once again been recognized as one of the world’s leading transfer pricing advisors by International Tax Review World Transfer Pricing.
Corporate Finance
Your go-to resource for investment banking, transaction structuring, M&A and capital advice — whether you’re a buyer, seller, lender, private equity investor or focused on growing or restructuring your business — our Corporate Finance professionals are masters of the art of the deal.
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Tax Forms and Tools
Penalties and the Tax-Free Savings Account
Are you the recipient of a Tax-Free Savings Account (TFSA) from a deceased spouse or common-law partner? You should be aware that there may be forms to complete and timelines to be aware of. The Canada Revenue Agency (CRA) has been assessing penalties on over-contributions and exempt contributions made by survivors of deceased TFSA holders.
Eight tips to retain employees
Retaining employees is the most important challenge facing companies today. For one, the birth rate is declining in North America. On average, Canadian families are having 1.2 children per couple versus 4.6 back in the ’60s.
Investment Funds
The investment funds industry has experienced significant growth in the last 20 years directly contributing to the wellbeing of the Canadian economy. As the leading advisors to the mid-market investment funds sector, we are the right partners to bring greater financial clarity and guidance.
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Social Networking
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Workplace parties: worth the risk?
At Baker Tilly, we know our people are integral to our business excellence. Our people solutions strategies support this success by providing healthy workplace cultures for our employees and leaders who treat them as people, not simply human capital.
The new rules surrounding capital cost allowance
In your farming business, you are likely to acquire depreciable property such as buildings or equipment. Since this property wears out or becomes obsolete over time, you can deduct the cost of each item over a period of several years in an annual deduction known as the capital cost allowance (CCA). For example, before recent changes to the rules, you would receive half of the 30 per cent CCA in the first year after purchasing a Class 10 asset (e.g., a self-propelled vehicle). If you bought a tractor that cost $100,000, you would receive a $15,000 write-off in the first year. In subsequent years, that 15 per cent would increase to 30 per cent of the remaining balance.
Baker Tilly Trillium launches innovative affiliation with local legal practices
Leamington, ON – Baker Tilly Trillium LLP, a leading southwestern Ontario accounting firm, is proud to announce it has launched a formal affiliation with Pearsall, Marshall, Halliwill & Seaton LLP (PMHS Law) and Ingenuity Counsel, two independent legal firms.
