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Year-end Tax Planner: Looking back at 2015 and forward to 2016
<strong>Topics include: </strong> <ul style="overflow: hidden;"> <li>Federal and Provincial Highlights;</li> <li>Entrepreneurs;</li> <li>Personal and U.S. tax matters;</li> <li>International matters;</li> <li>Key tax dates</li> </ul>
Nov 27, 2015
Year end Tax Planner-Collins Barrow
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
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Nil consideration election deadline fast approaching for elections in place prior to 2015
The nil consideration election for GST/HST purposes in section 156 of the <em>Excise Tax Act</em> (ETA) was updated recently with changes in effect Jan. 1, 2015. Section 156 allows members of a closely related group to treat certain taxable supplies between them as having been made for no consideration. Essentially, the election eliminates the need to collect and remit taxes by one member and then claim an input tax credit by the other member, which can sometimes result in cash flow issues, particularly with large transactions and differing reporting periods.
Nov 25, 2015
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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
Don’t pull the trigger on those stock options just yet!
The newly elected Liberal government released its Update of Economic and Fiscal Projections on Friday, November 20, bringing with it some much-needed clarity on a particularly sensitive subject.
Nov 24, 2015
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Audit and accounting Tax advisory
Infographic: Automobile Use by Employees
If you find yourself behind the wheel of a car for work purposes, there’s a good chance your employer (a) provides the automobile or (b) pays you to use your own vehicle. Both options are viable, but they also present different income tax consequences — for employer and employee alike.
Nov 18, 2015
Publications-Infographic: Automobile Use by Employees
Steps entrepreneurs can take now to minimize tax under the Justin Trudeau government
While taking smart steps to minimize tax has always been important, early signs indicate that under the new federal Liberal government, proper planning is going to become even more critical.
Nov 2, 2015
A close-up of a blue gemstone.
Tax advisory
Taxation of Employee Stock Options
<p class="p1">Many businesses use stock options to attract and reward good employees. Stock options give employees the opportunity to share in the future growth of a company without reducing the company’s cash flow. If the stock options are structured properly, the employee can enjoy the benefit on a tax-effective basis. 
Oct 23, 2015
Dark stormy waters with a big whitecap.
Why You Need a Law Firm Data Breach Response Plan
<p class="p1">It appears that every week the news media informs us that another major company has been hacked. The latest big-name victims are Ashley Madison, the online dating and social networking service marketed to people who are married or in a committed relationship, and the Excellus health insurance system. The Ashley Madison data breach resulted in the release of the email addresses and other personally identifiable and sensitive information of millions of people who had registered on the website. As a result, Ashley Madison has already been hit with more than half a billion dollars in lawsuits, threatening the financial stability of the company. The impact on Excellus is not yet known. 
Oct 21, 2015
Birdseye view of a dense, green forest.
IRS Tax Scams
According to the United States Treasury Inspector General for Tax Administration (TIGTA), U.S. taxpayers have reported more than $20 million in financial losses resulting from IRS scam artists since October 2013. About 4,000 individual taxpayers have been affected. During the same period, TIGTA received over 600,000 reports of taxpayers being approached by likely scammers.
Oct 21, 2015
Turquoise waters washing up on a yellow sand beach with two people walking the coastline.
Tech Central: More Tech Tools Altering the Legal Landscape
<p class="p1">We have noted previously in this space that lawyers today face the erosion of their services as clients restrict their legal budgets and as paralegals and other non-lawyer providers step up their forays into traditional legal services. Lawyers Alert contributor Gerry Riskin notes the impact of such non-lawyer providers on how firms must view their futures in the industry [“<span class="s1"><a href="/en/cbn/publications/illuminating-the-future" target="_blank">Illuminating the Future</a>,”</span>]. Some new tech tools appear poised to delve even further into that crossover.
Oct 20, 2015
Birdseye view of a dense, green forest.
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