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International Tax advisory
Infographic: The limits of “limited liability”
Canada Revenue Agency (CRA) has unexpectedly concluded that U.S. limited liability partnerships (LLPs) and limited liability limited partnerships (LLLPs) share more of a likeness with Canadian corporations than they do with Canadian partnerships. Thus, the tax implications for these entities have shifted and financial strategies for Canadian investors with a stake in such partnerships must change.
Darlene Shaw Nov 14, 2016
Publications-Infographic: The limits of “limited liability”
Audit and accounting Tax advisory
Cash basis accounting – tips & traps
Farmers are included among a select few taxpayers who are allowed to utilize the “cash method” of accounting for tax purposes. The vast majority of taxpayers are required to use the “accrual method.”
Nov 9, 2016
Older promotion-Larry Batte
International Tax advisory
New federal filing deadlines: what do they mean for you?
In an effort to minimize taxpayers’ timing difficulties with filing dates for several common types of returns and reporting forms, the United States Congress has passed legislation modifying the original and extended due dates for tax years beginning after December 31, 2015 (i.e. 2016 returns filed during the 2017 filing season). Click <a href="https://cbn.ddev.site/uploads/docs/newsletter/national/taxation/2016/us-tax-alert/USTaxAlert_NOV2016_Part2-Tables.pdf" target="_blank">here</a> to view a table that summarizes the old due dates under prior law and the new due dates for some of the most common returns for taxpayers with a calendar tax year-end and C corporations with a fiscal tax year-end.
Nov 8, 2016
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International
Your U.S. Individual Taxpayer Identification Number may expire soon!
U.S. Individual Taxpayer Identification Numbers (ITINs) are required by the IRS if you have U.S. tax reporting obligations and you are not eligible for a U.S. Social Security Number (SSN). This requirement normally applies to Canadians who have some source of U.S. income that must be reported to the IRS. Unfortunately, these ITIN numbers are not permanent and will expire as early as January 1, 2017. In fact, individuals having ITINs with 78 or 79 as the fourth and fifth digits (e.g. 9XX-78-XXXX or 9XX-79-XXXX) can expect to receive notice from the IRS this fall advising that their ITIN will expire on January 1, 2017. (To distinguish ITINs from SSNs, note that ITINs begin with the number 9.)
Shelley Smith Nov 8, 2016
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Tax advisory
Input tax credit allocation: In defence of ‘fair and reasonable’
Recent decisions of the Tax Court of Canada (TCC) in <em>University of Calgary v. R. </em>and <em>University of Alberta v. R., </em>(the university cases) have provided some clarity for determining input tax credit (ITC) entitlements in respect of land and buildings, or improvements to such property, that are acquired for use partly to make taxable supplies and partly to make exempt supplies. 
Oct 27, 2016
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Hug your banker - but don’t squeeze them
Negotiating with your banker is not a zero-sum game – meaning that your banker doesn't have to lose for you to win. Here's why that statement is both important and true.
Oct 26, 2016
On The Mark-Original
Make the most of millennial employees
As millennials have become a large part of the workforce, those of us in leadership positions are discovering new management strategies. For both succession planning and to create a work culture that keeps younger talent engaged, here are four key ways to ensure your millennial employees are ready for the future.
Oct 24, 2016
Leadership Series
Tax advisory
An entrepreneur’s checklist: Prepare now for a smooth tax season
If you’re an entrepreneur, you have a dream – and many priorities to manage along the way. Tax time is never top of mind, but likely always a worry.
Oct 24, 2016
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Tax advisory
Infographic: Farm quota taxes set to change
The Canadian government is going to change the way it calculates tax on farm quota sales beginning January 1, 2017 – and it’s not for the better. The changes will impact not only how much farmers are able to “write-off” but also how much tax they’ll pay on the sale of a quota. 
Thomas Blonde Oct 17, 2016
Publications-Infographic: Farm quota taxes set to change
Technical Bulletin: October 2016
This technical bulletin covers the various developments from July to September 2016. Collins Barrow regularly publishes Technical Bulletin for the general interest of its clients and friends to highlight the continually changing accounting and assurance standards, and the interpretations thereof, in Canada.
Oct 13, 2016
Technical Bulletin-Collins Barrow
Corporate finance Tax advisory
Ownership structures for life insurance policy-funded buy/sell agreements
In our July 2016 Tax Alert we noted that new income tax legislation will impact the taxation of life insurance policies. Most notably, it will be advantageous, for estate planning purposes, to purchase life insurance before the end of 2016 to maximize the tax benefits associated with current life insurance rules.   
Oct 12, 2016
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