News & Events

• U.S. Treasury Releases Corrections: Foreign Tax Credits
• Employee Stock Options
• The Small Business Deduction
• The General Anti-Avoidance Rule
• Working On Commission? You Can Get More Deductions Than Other Employees

• U.S. Tax Corner: Steep interest rates hikes
• Fuel Charge Credit for Farming Businesses
• Air Quality Improvement Tax Credit
• Taxation of Accounts Receivable
• Unearned Receipts in your Business
• Shareholder Loans

As the cannabis industry continues to evolve, with new product suites, consolidation of companies, and innovation in the production cycle, another innovation in sales is taking the spotlight, dubbed “farmgate.”

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• CRA Getting More Information from Trusts, Including Bare Trusts
• Must You Disclose Your Tax Planning to the CRA
• GST Or HST Between Related Corporations
• Court Cases — Why Are They Important?
• Around The Courts

Despite lobbying by many Fortune 100 companies and strong bi-partisan support to retain the deductibility of research and development (R&D) costs, 2022 brings an unexpected change for companies in the manufacturing, technology, SaaS, and life sciences industries. Those companies with significant R&D costs, including software development costs, will now be subject to mandatory capitalization, for U.S. tax purposes, as an intangible asset. This can have a significant impact on their 2022 financial statements and cash flows, as they will no longer be allowed to deduct those expenses in the year incurred.

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• U.S. Tax Corner: Mandatory Capitalization of Research & Development Expenses
• Federal Budget Highlights
• Low or No-Interest Employee Loans
• Computation of Business Profit
• 2022 Personal Tax Rates & Corporate Tax Rates

• U.S. Tax Corner: Proposed tax hikes on the wealthy
• RRSP VS. TFSA – Which is Better?
• The Capital Gain Reserve
• Flat Rate Home Office Expenses Extended

Just over three years since adult-use cannabis was legalized in Canada, the Canadian cannabis market has experienced its share of rise and falls, with the Cannabis Index reaching its post-legalization high in Q2 2019 (more…)

• US Tax Corner
• Should you file if you can’t pay?
• Convention Expenses
• Computer Consultants
• No Tax on Investment Income – Are you maxing out your TFSA?

• Reversionary / Revocable Trusts
• Partnership Information Returns
• Child Care Expenses
• Around the Courts