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Steve currently makes $84,000 in his small unincorporated business in BC; he wants to pay his new wife Carin half this amount, as they work together in the business. How much will the family save on taxes if they split income?
Either parent may claim the costs of adopting a child or they may split the costs as long as no more than the actual amount spent is claimed.
Many people have the misconception that gambling winnings are only taxable in the U.S. if you are a U.S citizen or resident, and that is simply not true.
Evelyn Jacks will kick off the Distinguished Advisor Workshops next week by helping tax and wealth advisors prepare their clients for recent budget changes and global wealth management trends that will affect planning in 2014-2015.
John Poyser will challenge professional advisors to open their dissenting issues – with CRA, within family wealth discussions, and when preparing the transition of cottage and business assets to the next generation in a compelling program of tips and traps all tax and wealth advisors need to be aware of.