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Yes, you can have your company pay you a salary and your company can claim a tax write-off for the salary paid. You must include the salary you recei...
Hello, You should file a departure return with the Canada Revenue Agency by April 30 of the year following the year of your departure. For example, ...
Hello, There's no minimum number of years that you have to stay outside Canada to be treated as a non-resident of Canada. Non-residency is based on...
Hi Sally, If you reside in Canada for 183 days or more in any 12 month period, then you will be deemed to be a tax resident of Canada. Residents of ...
Hi Anna, It is possible, but highly unusual. Make sure you sever all of your primary and most of your secondary ties with Canada so that you will no...
Hi Mac, If the total fee includes bookkeeping charges (e.g. entering all the data into an accounting software, e.g. QuickBooks), then the total fee c...
Hi Mac, Thank you for your question. A holding company also needs to file an annual corporate tax return and financial statements. The cost will be...
Hi Hugo, The answer depends on whether you and your wife were (a) beneficial owners of the property, responsible for its maintenance, mortgage paym...
If you are living in this home, then you can claim the principal residence exemption on the gain. However, the sales price to your nephew will be rea...
Hi Gideon, There are a couple of options available to you and your partners. First, I do not recommend that you incorporate a Canadian company to ...
Hi Jonathan, Setting up a US LP to invest in the LLC is a viable alternative. In this way, you will avoid double taxation.
Hi Vahid, I'm assuming that your company paid a developer to create an app for your company and the total cost came to about $300,000. In this case,...
Hi Freya, Thank you for your question. You will need to apply for a valid work visa so that you can legally work in the US for your new employer. ...
Hi Tippu, LLCs cause double taxation for Canadians. Instead of forming a LLC to purchase rental properties, setup a US Limited Partnership to make...
Hi Kay, You should file a US tax return (1040-NR) with the IRS to report the portion of your total wages that relate to the work that you physical...