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It appears that you are an employee and your daughter has paid employment income to you for $800 / month. She (as your employer) should issue a T4 sl...
Any unsold business cards that you purchased for resale should be recorded to the Inventory Account (asset).
To the extent that the car his used to carry-out your professional and business duties, the costs can be deducted. There are two ways you can handle ...
If you have the funds available to you personally to make a down payment on a rental property, then I recommend that you purchase the rental property ...
If you have already registered for a GST/QST number, then you have to remit the the sales tax collected from Canadian customers to the CRA and Revenue...
The value of the daily parking provided for free by your employer to you, including the deemed HST on the value of the parking, is taxable to you and ...
Hi Trinh, You can argue that you are a non-resident of Canada pursuant to the Canada-US tax treaty, because you do not have a permanent home in Can...
The CCA class for taxicabs is 16. The CCA class for licenses is 14.1.
Hi John, Thank you for your question. Do not transfer the house or condo to a Canadian corporation. Firstly, you cannot claim the principal residen...
Your company can pay dividends to you and your spouse so long as the articles of incorporation do not restrict dividend payments on the classes of sha...
Hi Frank, A real estate agent or certified appraiser can determine the portion of the purchase price that is attributable to the land and the buildin...
In either case, the Canadian corporation will be controlled by foreigners. This means that the Canadian corporation will not be eligible for the smal...
Generally speaking, it is not advantageous for US citizens residing in Canada to incorporate a Canadian company, because the income earned by the corp...
Yes, you can have your corporation pay for all or a portion of your housing costs. Since you do not have a home office, the entire amount paid by you...
Hi Mark, The renovations you made to your rental property will increase the cost basis of your property. For example, assume that you purchased yo...