2018 Tax Reform and Section 199A – Impact on Small and Pass-through business
Reading Time: 3 minutesSection 199A under the new Tax Cuts and Jobs Act means business owners can claim a 20% deduction on qualified business income.
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Reading Time: 3 minutesSection 199A under the new Tax Cuts and Jobs Act means business owners can claim a 20% deduction on qualified business income.
Reading Time: 3 minutesUS Forms: 1040NR, 8833, 8840, 8233, Canada Forms: T1, CPT56.
Reading Time: 3 minutesCanadian Employed in US through Canadian Company or Personally If you are a Canadian resident who derives an income effectively connected* to any business or
Reading Time: 3 minutesIf you have income connected to a business or trade in the US through a Canadian corporation, that income is subject to taxes.
Reading Time: 3 minutesTime, distance, and reimbursements for moving expenses, plus filing Forms 3903-F, Form 1040, or with Form 2555
Reading Time: 4 minutesTax deductions and expenses made on-the-road for truckers: guidelines
Reading Time: 2 minutesWrite off 100% of meals and entertainment with office parties, office refreshments, office lunches and business events at home.
Reading Time: < 1 minuteLearn how to keep a proper, IRS-compliant mileage log, including dates, destinations, business purposes, and maintain records for 3 years
Reading Time: < 1 minuteDepreciation section 179 deduction is available for businesses who purchase qualifying equipment or software.
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We offer everything from granular, data-entry support to high level accounting strategy. Don’t see the service you need listed? Just ask!
For assistance in planning and transferring your U.S. assets to Canada, please contact our colleague Phil Hogan, CPA, CA, CPA at (250) 661-9417 or phil@philhogan.com