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It’s a matter of trust – Part I
In this two-part discussion, we will first introduce the nature and benefits of trusts in tax planning generally. Then Part II will discuss selected traps that can often be overlooked when undertaking tax planning that can make trust management a more complex process. Despite the popularity of trusts in tax planning, many taxpayers do not understand what a trust really is. More importantly, many do not know how to properly administer and operate a trust to achieve the desired objectives.
Nov 26, 2015
Dark stormy waters with a big whitecap.
3 tips for filing U.S. taxes under the new IRS procedure
Unlike other countries in the developed world, U.S. citizens residing in Canada are required to file income taxes in both Canada and the United States.
Nov 24, 2015
76 AERIAL
Bigger vs. Better: Should Your Law Firm Merge?
<p class="p1"><strong>First, see if it can answer “yes” to one essential question. </strong> <p class="p2">So law firm mergers are back in the news again, to the continued fascination of the legal press. For every combination that is completed and announced, you can count on several others bubbling under in conversations within executive committees and at luncheon gatherings of senior partners, so there likely will be more such deals announced through the balance of the year. 
Oct 20, 2015
Birdseye view of a dense, green forest.
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Tax advisory
Temporary Assignment of an Employee from Canada to the United States
This article is the third in a series of four examining the Canadian and U.S. income tax implications of the temporary assignment of an employee from Canada to the U.S. Specifically, these articles address the situation of an employee remaining employed by a Canadian entity, but temporarily assigned to work in the U.S. Our previous two articles (Winter 2015 <em>U.S. Tax Alert</em> and Spring 2015 <em>U.S. Tax Alert</em>) examined the importance of the determination of “residency” for personal income tax purposes, and the Canadian and U.S. personal tax liabilities based on different residency scenarios.
Mike Hayward Oct 19, 2015
Turquoise waters washing up on a yellow sand beach with two people walking the coastline.
Private enterprise Tax advisory
Sales and Transfers of Farm Land: Be Careful with the Details
When a farmer decides it is time either to sell farm land or to transfer it to a child, the <em>Income Tax Act</em> can be a powerful ally. Sheltering a sale of farm land by using the capital gains exemption or the inter-generational rollover of farm land to a child can help the taxpayer move the land on a tax-deferred or tax-free basis. It is important, however, to be aware of all the rules associated with these strategies, as small details within the <em>Income Tax Act</em> can cause undesired consequences.
Oct 15, 2015
Green farm land with varying grass lengths creating an interesting organic pattern.
No small matter: resolving minority shareholder disputes
Are you a minority shareholder in a company? If so, there’s a chance you may eventually find yourself in a dispute with the majority shareholder(s) who has more control.
Oct 6, 2015
71 PEOPLE
5 cyber-security “must-dos”: protect yourself online
A few years ago a man we’ll call “Adam” was working on a complex technical solution for a Fortune 500 company. He hit a wall and needed peer support to resolve the issue. So he posted his question on a public tech forum and within 24 hours had the answer to his problem.
Sep 21, 2015
74 PEOPLE
Medical professionals
Doctors, here are 4 reasons you need a professional corporation
If you’re a doctor, there’s no better way to reduce your tax burden than to form a professional corporation. When doctors come to see me for tax advice, I almost always begin by walking them through these four benefits of incorporation. 
Sep 21, 2015
01 HL
A little disruption goes a long way
Like many in the rapidly evolving financial service industry, my firm has faced a key challenge in the past few years: keeping talent. Why
Sep 17, 2015
82 AERIAL
We may deal in numbers, but it’s a people business
What business mindset shapes your leadership values? For many years we’ve embraced the idea that knowledge, combined with technology, is the value capital that drives business growth. 
Sep 7, 2015
82 AERIAL
Tax advisory
Automobile Use by Employees
Businesses often require employees to use automobiles to perform their employment duties. Most often, a business will provide an automobile to the employee or will pay the employee for use of the employee’s own vehicle. These options present different income tax consequences for the employer and the employee.
Jul 27, 2015
Dark stormy waters with a big whitecap.
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