U.S. ITIN Requirements for PTPs

Most Canadians holding U.S. PTPs will not qualify to apply for an ITIN in advance and must wait until they receive a 1042-S and attach the ITIN application to the U.S. 1040NR tax return.

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2020 Q2 Tax Tips & Traps Newsletter

I am pleased to announce that Tax Tips and traps is back! In this quarterly edition: Tax ticklers - Some points to considerStarting a business and not getting paid - Can I collect EI?Tips- Reporting IssuesReal estate sales- Taxable or not?Contributions of goods and services to an NPO- Tax ImplicationsHome accessibility renovation credit - Increase in Home Value?Working from home…

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Newsletter – Financial Relief For Canadians

This newsletter has been prepared to provide an overview of the tax measures and assistance available to businesses and families in the midst of the Covid-19 pandemic. A copy of this newsletter can be downloaded here. It is a concise summary of the measures announced up to and included Wednesday April 9, 2020. Discussed in the newsletter: Filing deadline and…

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Moving An IRA or 401(k) to Canada

If you have lived or worked in the U.S., you may have an Individual Retirement Account (IRA) or 401k plan. Leaving these accounts in the U.S. can be administratively challenging and you may wish to consider moving them to Canada. In certain circumstances, a person with a 401k or IRA may be able to rollover their U.S. retirement account to a Canadian…

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