Being an executor for a deceased taxpayer can be overwhelming. At DMCL, we can guide you through the process of filing the necessary tax returns including the deceased taxpayer’s final tax return, and where necessary, a rights and things return, an estate tax return, and finally a compliance certificate. The following is a list of […]
If you own a U.S. vacation home – or are thinking of buying one – make sure you understand the U.S. tax deductions that are available to you if you rent it out.
The internet has changed how business is conducted, especially in a cross-border context. The ease and relatively inexpensive access to the internet, the emergence of social media sites such as YouTube, and the proliferation of company websites that operate as virtual storefronts, has created business opportunities where none existed before
If you are a Canadian who spends winters in the U.S., keeping track of your days in the U.S. is important in order to avoid becoming an “accidental” U.S. resident.
Owner-managers of companies who operate a business or who own investments such as real estate or a stock portfolio in a private corporation may now be reluctant to split income from their corporations by paying dividends to adult family members because such dividends may now be subject to the highest marginal tax rate under the […]
The Federal Government’s 2018 Budget touts Canada’s strong economic growth over the past two years, including real GDP growth of 3.2 per cent since the second quarter of 2016, an unemployment rate of 5.9 per cent, and significant improvements in average weekly earnings, consumer confidence, and household consumption.
The new Societies Act became effective November 28, 2016. Not-for-profit organizations (NFPOs) formed under the old Society Act were given two years to transition to the new Societies Act. Effected BC NFPOs must transition to the new Societies Act and to a new online filing system called “Societies Online” by November 28, 2018.
Keeping proper books has long been considered a challenge for business owners. Many struggle to do it themselves or they may hire someone to do it for them and lose touch with the financial health of their company. At DMCL, our experienced Cloud Accounting group uses cloud-based software to work collaboratively with our clients to […]
It’s time to start thinking about your 2017 Personal Tax Return – April 30th is fast approaching. The following is a summary of changes that my impact your taxes and the information you need to gather.
With the recent passing of the U.S. Tax Cuts and Jobs Act of 2017, many Canadians who own U.S. vacation property (or other U.S. assets) will no longer be subject to U.S. estate tax at death…