Minimize taxes Archives - CPA Accountant and Tax Advisor- Coquitlam, Burnaby, Maple Ridge

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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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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Salary or Dividend – Which One Is Better?

When tax planning for your next tax return, you may want to keep in mind whether to earn income through salary or dividends.

The owner or manager must determine the remuneration they wish to receive, and must therefore determine the optimal salary and dividend combination to maximize their […]

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