by James PendergastHow Professionals Incorporate To Save On Taxes
Professional Corporations Legislation in Ontario specifically permits certain professionals to practice their profession in a corporate form even thou...
by James PendergastIncorporation vs. Sole Proprietorship
When a taxpayer decides to start their own business, he or she must consider the type of business structure best suited to their individual needs. The...by James PendergastSection 85 Rollover
What is a Section 85 Rollover? The Income Tax Act (“ITA”) contains several provisions that allow a taxpayer to transfer ownership of prop...
by James PendergastMarijuana Dispensaries and Taxes
With the recent explosion of marijuana dispensaries in Vancouver and Toronto, the Canadian government is having a hard time coming up with new laws ...
by James PendergastReal Estate Audit
The Principal Residence Exemption is Canada’s most lucrative tax break. When a taxpayer sells his or her personal residence, providing the con...
by James PendergastBank Deposit Analysis
When the Canada Revenue Agency (“CRA”) audits a taxpayer, there are many different auditing methods or techniques that may be used. One of...
by James PendergastBusiness Income vs. Capital Gains
Taxpayers will always try and pay the lowest amount of taxes possible. That is why the difference between business income, and capital gains is so im...
by Jason RosenCheque Cashing Centres
The Canada Revenue Agency (“CRA”) is currently conducting a massive audit program looking into taxpayers who have used cheque cashing serv...
by Jason RosenArbitrary Assessments
When the Canada Revenue Agency (“CRA”) processes a tax return, they produce a document detailing the results known as a Notice of Assessm...
by Jason Rosen