The new US global intangible low-tax income (GILTI) regime was introduced as part of US tax reform changes announced in December of 2017 and applies to foreign corporation’s first tax year beginning after 2017. How the GILTI Rules Work The GILTI rules require US taxpayers who own 10% or more of the votes or value […]
If you own or are looking to own residential real estate in BC (a home, condo, or cottage) you should be aware of the BC government’s 30 Point Plan to address BC’s housing affordability. Do you own a 2nd home or vacation property in BC? Starting in 2018, the BC Speculation Tax, announced in the […]
Are you a Canadian company selling goods to US customers? If so, the Wayfair decision might drastically alter your US Sales Tax Exposure. The clear implication of the Wayfair decision is that there will likely be a mass rush of states adopting new sales tax laws that will mirror the far lower threshold of “economic nexus” that has been implemented by South Dakota.
What are the new Quebec Sales Tax (QST) Rules? On March 27, 2018, the Quebec budget introduced new Quebec Sales Tax (“QST”) rules expanding the threshold of QST registrant requirements with focus on non-resident suppliers in the e-commerce sector. The budget addressed the lack of specific rules for online sale transactions which previously led to […]
Are you considering selling your business? The sale of your business can be equally as exciting as it can be stressful. It is important that you know the options available to you and the tax implications of different choices. We at DMCL are here to guide you through the options available to you and make […]
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 […]