Blog Archives
Reading Time: 2 minutes Technically, yes. But, there are some limitations. When Bookkeepers Do Tax Returns Bookkeepers have an important role in tax preparation, and not just during tax
Reading Time: 3 minutes A global tax advisor (often called an international tax consultant or a cross-border tax expert), is a tax advisor who specializes in circumstances where two
Reading Time: 5 minutes If you don’t file your taxes on time, you will be liable to pay penalties in addition to the taxes you owe. This statement may
Reading Time: 4 minutes Each tax season, many business owners and individuals discover they owe the IRS late filing penalties and/or late payment penalties. But, more often than not,
Reading Time: 5 minutes Filing your tax returns can be a very overwhelming process. The situation can add to the complexity when you file an extension for your tax
Reading Time: 3 minutes With inflation going up, people get pushed into higher income tax brackets as well. To regulate the impact of inflation, the income tax bracket gets
Reading Time: 3 minutes As the new year is approaching, the deadline to file your tax for 2023 is near. It is estimated that the IRS starts accepting tax
Reading Time: 7 minutes Every year thousands of Canadian move to the U.S. for work, personal, and business purposes. Unlike the U.S., Canada has unique rules for filing a
Reading Time: 3 minutes What is Foreign Tax Credit? As a US citizen or US permanent resident tax payers receiving earnings from foreign countries or US possessions, you may
Reading Time: < 1 minutes Yes, and let me tell you why and how. There are many negative consequences associated with unpaid taxes, especially if they have been building up
Reading Time: 6 minutes Are you delivering your goods to customers in Canada? Do you intend to increase your sales and marketing in Canada? Do your staff occasionally sell
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Reading Time: 4 minutes Every country has its policies regarding taxes. Some countries, for example, Monaco and Qatar, don’t tax income at all. Each country designs tax policies to
Reading Time: 5 minutes U.S taxpayers are required to report and pay taxes on their worldwide income. If you are a U.S. expat and living/working abroad, FBAR, FinCEN 114,
Reading Time: 3 minutes If you are an American citizen or a U.S. expat, and meet a certain income threshold, then you are supposed to report your foreign bank
Reading Time: 3 minutes Let’s be honest – nobody likes paying extra taxes. You don’t want to spend more than necessary money on taxes, just as you wouldn’t want
Reading Time: 2 minutes As apparent by the name, “International taxation” refers to the taxes applied on the income that businesses and companies earn by selling their product and
Reading Time: 3 minutes Taxation involves complexity. It’s completely normal to think this way. To file a single tax return, you will have to go through these stages: understanding
Reading Time: 3 minutes We have compiled several important US Tax Residence rules that every Canadian should know and understand when visiting the United States or even stay in
Reading Time: 4 minutes Dealing with cross-border taxes can often be confusing. Since you deal with the regulations of two countries, you may need to put in some extra
Reading Time: 4 minutes With each new year, cryptocurrencies enter a new era as well. In 2008, Satoshi set its foundation. Moving on, investors step in to gain huge
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For assistance in planning and transferring your US assets to Canada please contact our colleague Phil Hogan, CPA, CA, CPA (CO) at 250-661-9417 or via email at phil@philhogan.com
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