US Tax Alert: The IRS finalized the proposed regulations issued in April 2016 with Final and Proposed Regulations issued on October 13, 2016, after receiving more than 200 comments and concerned letters from members of Congress. They backed off some of their harsher, proposed rules, in some cases eliminating parts of the rule, providing additional […]
Potential Changes to the Capital Gains Rate
Will they or won’t they? Rumours continue to swirl that the Federal budget expected to come out in Feb/Mar 2017 may increase the capital gains inclusion rate from 50 percent to as high as 75 per cent. Capital gains occur when you dispose of capital property, such as a stock, bond or mutual fund, for […]
Thinking of Leaving the US? Know the Expatriation Tax Rules
It’s no secret that many Americans living in Canada are unhappy with their U.S. tax compliance costs and information reporting burdens. For those that are voting with their feet and renouncing their U.S. citizenship(i) or terminating their long-term U.S. residency(ii) (“expatriating”), careful planning should be undertaken prior to expatriating to avoid costly surprises. A few […]
Good Governance for Tech Startups
The tech sector continues to grow healthily. It is a competitive marketplace where companies hustle for position, each with their own idea and end goal of starting to generate profitable revenues. A significant number of start-ups continue to receive funding to assist their research, testing and ultimate release of new products. Amid all the excitement […]
Our US Tax Group is Growing! US Tax Accountants Vancouver
DMCL CPA is pleased to announce that Rick Bennett Tax Services Ltd., has joined our US Tax Group. Rick Bennett brings over 30 years of experience in Canadian and US cross-border taxation services. With our combined experience and expertise, the DMCL US Tax Group is able to provide an extremely wide range of US tax services […]
Join us in welcoming Brian Legge to the partnership
DMCL CPA is pleased to announce that Brian Legge, CPA, CA has been admitted to the partnership effective January 1, 2017. Brian joined DMCL as an articling student in 2001. He received his CA designation in 2006. Brian has over 16 years of experience providing accounting, assurance, tax and business advisory services to owner-managed businesses, not-for-profit […]
2016 Personal Income Tax Return Checklist
Organizing your Personal Income Taxes Our Personal Tax Return Checklist is designed to help you make this process as easy and efficient as possible. It also assists us in ensuring that we have information that is as complete and accurate as possible to ensure your taxes are minimized and correctly reported. If you have any […]
Congratulations to our 2016 CFE Writers
DMCL CPA is proud to congratulate our 2016 CFE writers! DMCL partners and staff are proud of your dedication and hard work. We look forward to your future achievements as valuable members of our team. Left to Right: Christina Chi, Karen Gill, Carly Matheson, Alex Akeroyd, Heather Sim, Margaux Hennebery, and Karen Luu.
Donald Trump and Potential US Tax Cuts
Now that Donald Trump is President-elect, and as Republicans will control both the House and Senate during at least the first two years of Trump’s administration, the prospects for US tax cuts for everyone has never been better. The items below are based on president-elect Trump’s statements and proposals during the campaign. Actual US tax […]
New Back-To-Back Shareholder Loan Rules
Written by: Ken Chong, CPA, CA Mr. Big is a very successful businessman and has accumulated a significant amount of retained earnings in his company, BigCo. BigCo invests its retained earnings primarily in deposits and investments held by BigCo’s commercial bank, First Bank. Instead of taking money out of his company to buy a new […]
