by Joseph Truscott | Jan 6, 2020 | Taxation Articles by Joe Truscott
The Tax-Free Savings Account was introduced in Canada to allow qualified individuals (essentially Canadian residents over the age of 18 who have a valid Social Insurance Number ) to be able to earn income, tax-free, on cumulative contributions of up...
by Joseph Truscott | Jan 6, 2020 | Taxation Articles by Joe Truscott
Overview This article discusses the Internal Revenue Service requirements that non-residents of the United States apply for, and the various steps required to successfully obtain, an Individual Taxpayer Identification Number (“ITIN”) The Form W-7,...
by Joseph Truscott | Jan 6, 2020 | Taxation Articles by Joe Truscott
use or common-law partner. On the death of that spouse, Canada Revenue Agency (CRA) will consider the entire value of the RRSP or RRIF to be taxable income.Spousal TrustsThese trusts, which fall under the category of testamentary trusts and work extremely well...
by Joseph Truscott | Jan 6, 2020 | Taxation Articles by Joe Truscott
Overview The following is a list of many of the questions and issues that should be addressed in the preparation of your personal Will. We have assisted clients for over 30 years in working with their situation in the proper preparation of their final Wills. Your...
by Joseph Truscott | Jan 6, 2020 | Taxation Articles by Joe Truscott
Introduction The growth of a business brings about many important changes. Among the many factors to consider is the operating structure of your organization. A business can operate under any one of a number of different structures, including a sole...
by Joseph Truscott | Jan 6, 2020 | Taxation Articles by Joe Truscott
When a purchase or sale of an incorporated business is contemplated, there are two options to consider. The buyer and seller can negotiate a transaction on the assets used to carry on the business of the corporation or they can negotiate a...
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