As students begin to pay their tuition for the upcoming fall semester, it is important to know what fees and expenses can be deducted on this year’s tax return. This article will highlight some of the key deductions and credits that can help reduce your family tax bill for the 2020 filing year.
The Voluntary Disclosure Program (VDP) provides a second chance for Canadians to correct their previously filed tax returns. However, the program maintains a goal of fairness and is not meant to reward individuals or corporations who have willfully avoided paying their fair share of taxes.
With the appreciation of the U.S. dollar and the price of U.S. real estate rising in recent years, more Canadians are looking to lock in their gain by selling their U.S. vacation property.
Whether you’re leaving a little or a lot, the key to protecting your loved ones is simple: just start.
if you’re a U.S. taxpayer, learn about the additional information we can provide which allows you to make an important election for your investment in Canadian mutual funds and will make it easier to file your U.S. tax return
As a member of a blended family you need to pay careful attention to how your estate is structured to avoid inadvertently disinheriting your children.
As a business owner, having a well thought out tax and estate plan is key for financial success.
Individuals can grant powers to others to manage their affairs in a number of different circumstances using various types of documents, often known as a power of attorney. Being appointed as a substitute decision-maker for someone’s financial affairs through a power of attorney is both an honour and an obligation.
For many families, it is much more important to preserve the family cottage than any other asset. Those who want to leave the cottage to their children must plan for the tax consequences and disputes which may arise upon their death. The concepts here apply to any vacation property, including a ski chalet or condo.