US Tax Reform Summary

On December 22, 2017, President Trump signed into law the Tax Cuts and Jobs Act (HR 1).  This legislation, which was passed through Congress strictly on party lines, has made a significant number of changes and modifications to existing US tax law.   Although the new tax law is getting an enormous amount of press coverage […]

Income Sprinkling Rules Simplified

On December 13, 2017, the Department of Finance released further clarification on the previously proposed tax on split income (“TOSI”) or income sprinkling rules.  The government has simplified the rules, excluding family members who make “meaningful contributions” to the business. Additionally, family members excluded from the new rules include: A business owner’s spouse, provided the […]

Charitable Donations: Giving and Tax Savings

The season of giving has arrived!  You may be thinking of making some final charitable donations for 2017.  Many are inspired to give back to the community by donating to charitable organizations.  As you embrace the giving spirit by making donations, keep in mind the tax benefits available to you. Eligible Donations Donations are eligible […]