pro-accounting

Strategies for Shielding Canadian-Owned U.S. Assets From U.S. Estate Tax

Review when Canadians may face the U.S. estate tax on their U.S. assets. Find out how to calculate a credit that helps your clients avoid this tax. Read about strategies that can help your clients shield their assets from the estate tax when the credit expires or the exemption threshold changes.

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pro-accounting

Profits Up in Smoke? Challenges in Applying IFRS to Canada’s New Cannabis Industry

Look at how the International Financial Reporting Standards affect the cannabis industry. Learn how the biological assets rule may make cannabis companies look more profitable than they really are, and review what investors need to do when making decisions about whether to buy cannabis-related stocks.

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pro-taxes

Accounting Tip: Defer Capital Gains With the Capital Gain Reserve

Learn how the capital gains reserve works. Look at an example to see how the reserve helps to reduce your client's tax liability in the year of the sale, and find out how to claim the reserve on your client's tax return. Compare the capital gains reserve to the capital gains lifetime exemption.

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pro-taxes

Helping Veterans and Survivors Apply for the Canadian Forces Income Supplement and the Disability Supports Deduction

Learn about the Canadian Forces Income Supplement and the disability supports deduction. Look at how these programs may be able to help your clients boost their income or reduce their tax liability. Review the qualification criteria, and discover how to help your clients apply for these benefits and deductions.

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pro-taxes

Understanding British Columbia’s Tax Benefits for Families With Children

Look at British Columbia's benefits for families with children. Review how these benefits can help your clients, and get tips on helping your clients apply for these programs. Learn about the low-income climate action tax credit, the early childhood tax benefit, and the reductions in child care fees effective in 2018.

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pro-taxes

Claiming Adoption Expense Tax Credits

Read about the adoption tax credit from the Canada Revenue Agency. Find out how to help your clients claim this tax credit. Review the instructions for calculating this credit, look at what type of supporting documents you need, and start to figure out how this credit can offset your client's tax liability.

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pro-taxes

What You Should Know About Payouts and Rollovers for Registered Disability Savings Plans

Learn when your clients may be able to roll funds from their retirement accounts to their children or grandchildren's Registered Disability Savings Plans. Find out when these rollovers can be tax deferred at death. Review how to handle the paperwork and claim a rollover deduction on your client's final tax return.

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pro-accounting

Understanding Ontario’s Protecting Employees’ Tips Act

Find out how Ontario's Protecting Employees' Tips Act changed how employers deal with tips. Learn when your clients can deduct money from employee tips and when they can't. Read about the rules related to tip pools, review the taxation requirements on employee tips, and look at when tips are subject to CPP and EI.

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