Tax saving tips - Articles about personal and business taxes

capital gain reserve

Capital Gain Reserve

Capital Gain Reserve Carry Forward

If you have a capital gain, there may be an option to defer or reduce the capital gain tax. In some instances, all of the proceeds from a capital asset disposition will not be received in cash in the year of […]

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Private Health Services Plan Premiums Deductibility

Deducting Private Health Insurance Payments

Under ITA S20.01, you can deduct premiums paid to a private health services plan (PHSP) from self-employment income if you meet the following conditions;

   – your net income from self-employment for the current or previous year is more than […]

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tax planning

Canadian Tax Obligations for Non-Residents

According to the Canada Revenue Agency you are a non-resident for tax purposes if you:
– normally, customarily, or routinely live in another country and are not considered a resident of Canada; or
– do not have significant residential ties in Canada; and

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US taxes for Canadians

US Tax Consequences For Canadians – Snowbirds

There could be some tax consequences for Canadians who travel US frequently. Read the attached article published by CGA association to explain how IRS calculates the days present in US and what are the consequences of deemed US residence? Read here […]

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