A leading, independent accounting firm in Vancouver for over 50 years, more recently, Wolrige Mahon expanded their reach to Toronto, joining forces with CW Group. Having now merged with Collins Barrow Vancouver, together the three firms form Baker Tilly WM LLP. We are building a new legacy of full-spectrum service both locally, nationally and even globally via our membership in Baker Tilly International.
Recently, I encountered a scenario where the trustees of a family trust were planning an allocation of proceeds from a share sale transaction to the beneficiaries of trust using the lifetime capital gains exemption...
Together our three firms have formed, Baker Tilly WM LLP, expanded to include 20 partners and now serving our valued clients from offices in both Vancouver and Toronto. We look forward to drawing on the legacy of professional excellence that each former firm brings to the table, as we establish and grow our new combined team of expert advisors.
Control is an important concept for applying certain income tax rules and valuation issues (amongst others) when dealing with corporations...
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.
On behalf of Baker Tilly Canada, please find our representations concerning the proposed Regulations under the Disability Tax Credit Promoters Restrictions Act (DTCPRA).
Our experts are at the heart of the exceptional service we provide. Our team has now grown extensively, allowing us to offer clients even greater audit, tax and specialty advisory support. From traditional accounting and assurance services to tax, corporate finance and business consulting, we’ve got you covered. Connect with us today.
The use of a pipeline is often justified as avoiding "double-tax" in the sense that there has been tax imposed as a capital gain on the death of a shareholder followed by further tax in the form of a dividend realized when the assets are distributed.
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.
In 2018, amendments to the Income Tax Act were enacted to limit the $500,000 federal small business limit where a Canadian Controlled Private Corporation (CCPC) earns investment income. For every $1 of Adjusted Aggregate Investment Income (AAII) that a CCPC earns in excess of $50,000, its small business limit will be reduced by $5. The full small business limit, where the CCPC earns $150,000 or more of AAII, will be eliminated. AAII effectively includes any investment income that is not incidental or does not pertain to an active asset. Note that in Saskatchewan, the grind will reduce the provincial small business limit by $6 for every $1 of AAII because of the province’s higher provincial small business limit ($600,000).
The Vancouver-based firm Wolrige Mahon has undergone an exciting international rebrand as Baker Tilly WM LLP. The rebranding was part of a merger between two Vancouver-based firms – Wolrige Mahon (which has been in Vancouver for almost 60 years) and Collins Barrow Vancouver – and CW Group, a Toronto-based firm. Together they are now Baker Tilly WM LLP.
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.
The IRS announced on June 4, 2019, that it will end its tax transcript faxing service in June and will amend the Form 4506 series to end third-party mailing of tax returns and transcripts in July. The announcement indicated that transcripts have become increasingly vulnerable as criminals impersonate taxpayers or authorized third parties to file fraudulent returns for refunds.
A growing number of farm clients come to my office to discuss succession planning. In many cases, there is a single farming child that has stayed behind to help run the operation, and this child will be the successor. Often, there are other children in the family who have left the farm and have blazed their own paths in life.
