Many newly launched and growing companies are like hot-air balloons that want to soar upwards, but ropes hold them tethered to the ground.

This discussion is a continuation of our earlier Tax Alert and will focus on selected traps that taxpayers should be aware of when undertaking tax planning involving trusts.

Ontario Minister of Finance Charles Sousa announced a reduction to the small business tax rate to take effect on January 1, 2018.

U.S. persons looking to catch up on income tax filings may now be able to take advantage of an updated set of "taxpayer friendly" rules introduced in June 2014.

Previous issues of Farm Alert have discussed the benefits of incorporating a farming business, factors to consider before and after incorporating, and the importance of maintaining a pure farm corporation in order to take advantage of the lifetime capital gains exemption on a potential sale or transfer of family farm corporation shares.

Initially announced in the 2015 federal budget, the Department of Finance released draft legislative proposals on July 31, 2015 that provide certain non-resident employers an exemption from Canadian payroll withholdings...

The time may come for operators of a farm corporation to split up as a corporate entity.

Owning property for the purpose of earning rental income creates benefits and challenges. Property owners incur a variety of expenditures in order to earn rental income and maintain property value.

Canadian-controlled private corporations earning business income can enjoy significant tax advantages.

It is not uncommon for recently graduated medical professionals to take up employment in the United States immediately upon completion of their education and practical experience requirements.

Some taxpayers utilize corporate groups, which have been structured to multiply their access to the small business deduction (SBD).

The U.S. Bank Secrecy Act (BSA), passed by Congress in 1970, gave the Department of Treasury the authority to collect information from U.S. persons...

We continue our review of interesting and unique legal tech issues. Here are some recent developments we are watching.

On December 13, 2017, Amendments to the Income Tax Act and Regulations and Explanatory Notes to simplify measures to restrict income sprinkling were released by Finance Canada.

In many cases, builders might not have fully understood their obligation to report grandparented housing sales, or they may not have realized the significance of the penalties for misreporting.

On October 16, 2017, the Department of Finance ("Finance") released changes ("announcement") to the tax proposals previously announced in July 2017.

The premise behind safe income is that income that has been earned, taxed and retained within the company increases the value of the company’s shares.

Technological advancements and AI, or artificial intelligence, are affecting the business and legal worlds in increasing ways, challenging the tasks historically ruled by humans

Traditionally, the FBAR has had a hard deadline of June 30 of the year following the calendar year in question.

From an investment perspective, mutual funds and exchange-traded funds (ETFs) make sense for many Canadians. They allow them to reduce investment risk by diversifying their holdings through exposure to...