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Tax advisory
Smooth Transition: Keeping Your Cottage in the Family
Family cottages can play an integral role in strengthening family bonds. Over time, traditions are established, festivities are enjoyed and emotional ties are formed, creating a desire to keep these properties in the family for generations. However, a variety of financial and legal concerns can make this more difficult than it sounds. 
Jul 15, 2015
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Tax advisory
Crowdfunding: The Tax Implications of a Popular Fundraising Vehicle
<p class="p1">Crowdfunding is defined by Wikipedia as “the practice of funding a project or venture by raising many small amounts of money from a large number of people, typically via the Internet.”<br /> <br />  
Jun 12, 2015
Dark stormy waters with a big whitecap.
Law Firm Ownership and Lawyer Independence
<p class="p1">The spectre of “non-lawyers” owning equity in law firms has led some practitioners to express grave concerns about the survival of our ethical standards, and about the wisdom of allowing “non-lawyers” to deliver legal services at all. Before we can dive too deeply into these questions, we need to step back and look at the bigger picture.
Apr 29, 2015
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Embracing the Product Imperative: Why and How Law Firms Should Consider the “Product” Approach
<p class="p1">How often do we hear commands like “innovate or die” outside of the legal industry?  <p class="p2">Product companies and even other professional services firms are asked – perhaps even required – to “innovate,” largely in deference to the healthy paranoia they recognize drives all great businesses to higher levels of success. The legal industry, however, is in the very early stages of experimenting with innovation. Professional services firms in general hate to invest ahead of revenue as compared with their product company brethren. And to the extent that real innovation necessitates what are viewed to be distracting allocations of capital, law firms have been loath to do much of it.
Apr 29, 2015
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What is the Real ROI of Law Firm Advertising?
There continues to be a lot of discussion about changes facing the legal industry, many of which are long overdue, but perhaps not welcome. Not only are clients putting pressure on lawyers to find suitable alternatives to the billable hour, but they are also seeking changes in how services are managed, delivered and benchmarked, including pushing for implementation of performance metrics.
Apr 29, 2015
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Taking Back Your Old Age Security
Many Canadian taxpayers spend most of their lives working hard to accumulate sufficient savings to permit them to live a comfortable lifestyle during their retirement years. At age 65, when they can start benefitting from Canada’s social programs, they often find themselves with an effective marginal tax rate of 50% on their taxable income. When combined with the Old Age Security (OAS) recovery tax, rates can reach 55%.
Sylvain Campeau Apr 15, 2015
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Case Study: Temporary Assignment of an Employee from Canada to the United States
This article is the first in a series of four parts that will examine the Canadian and U.S. income tax implications when an employee employed by a Canadian entity is assigned temporarily to work in the U.S. This first article focuses on the importance of the determination of “residency” for personal income tax purposes.
Mike Hayward Mar 5, 2015
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Are You a “Small Business”?
Canadian-controlled private corporations earning business income can enjoy significant tax advantages. <strong>Small business deduction</strong> The small business deduction is the most significant advantage. The federal tax rate on the first $500,000 of business net income is reduced to 11 per cent from a general rate of 15 per cent. In addition, all provinces assess a general business tax rate ranging from 10 to 16 per cent, depending on the province. Each province also provides a significant rate reduction on the first $500,000 of business income (with the exception of Manitoba and Nova Scotia, which have lower thresholds).
Jan 21, 2015
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Choosing Industry Leaders
Whether as a result of family background, friendships, or serving clients belonging to that industry, it is essential that an industry group leader be familiar with the industry at least at a basic level. Over time, both the industry group leader and the industry group will acquire much greater knowledge about the industry, but starting from zero makes no sense. Most typically, the industry group leader would act for a signature client who belongs to that industry.
Oct 31, 2014
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Tax Complications upon the Death of a Farmer
Even though Canada does not have an inheritance tax, a significant and unexpected tax liability can be left behind by a farmer at death without proper planning and preparation.
Ryan Kitchen Oct 1, 2014
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Income Tax Considerations When Moving to the United States
From time to time, many Canadians find themselves considering a permanent move to the United States. Whether it is a business executive seizing an extraordinary career opportunity or a retired entrepreneur simply in search of warmer climates, it is important to understand the tax implications that may result.
Sep 16, 2014
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