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We attempt to assist our readers by simplifying some of the complex income tax issues in Canada. Occasionally, we answer the general tax questions as well that can help a broader readership of our blog section.
INSIGHTS
T1134: Foreign affiliate Information Return
T1134 has changed for the tax years starting Jan 1, 2021 with additional reporting and disclosure requirements.
IRS Streamlined Foreign Offshore Procedures
IRS Streamlined Foreign Offshore Procedures In this post: Streamline Foreign Offshore Procedures (SFOP) – Overview Eligibility for SFOP Requirements of SFOP – Checklist Who should not use SFOP! How can Maroof HS CPA Professional Corporation
Top 10 Mistakes to Avoid on Personal Tax Returns
Tax filing is sometimes, if not always, a fairly complicated process! For the majority of taxpayers, it is so easy to make mistakes and overlook possible credits and deductions. It simply cannot be taken for
Personal Real Estate Corporation (PREC)
In Ontario, real estate agents and realtors have traditionally operated as sole proprietors, as they were not allowed to incorporate their businesses. However, Bill 145, the Trust in Real Estate Services Act, 2020, introduced important
2021 – Individual Income Tax Return (T1) Checklist
2021 – Individual Income Taxes – Checklist Electronic filing for Individual Income Tax Returns (T1) for the 2021 tax year is open now. We have compiled a checklist for the individual taxpayers for a quick