Blog
Personal Tax Planning
Estate Argues In Favor Of Lower Fine Following Unreported Foreign Holdings
The American government makes efforts to ensure that taxpayers are not keeping money in offshore accounts without paying the necessary tax on those funds. While people may sometimes get away with hiding money, the matter can be exposed later on. In a recent case heard by the United States Court of Appeals for the Second Circuit, the estate of a deceased individual was ordered to pay over half of $8,000,000 that the… Read More
Sports & Entertainment
NCAA Endorsements Begin To Roll In
Back in June the United States Supreme Court ruled that NCAA athletes could be allowed to make money off their names and likeness in order to receive compensation while still in school. We reported about the court’s decision on June 25. We wanted to take some time this week to discuss the immediate impact the court’s decision has had on college athletes, including those who have been quick to capitalize on the opportunity to… Read More
Tax Disputes & Litigation
Taxpayer Unsuccessful In Attempt To Recoup Litigation Costs From CRA
Many people may reasonably assume that in the event they are successful in litigation they will be able to recover some or all of their costs from the unsuccessful party. However, a recent decision from the Ontario Superior Court of Justice shows that it’s not always the case. In this situation, a taxpayer was successful in appealing an audit by the CRA which had ordered him to pay $14 million for uncollected… Read More
Immigration
Canada Loosens Border Restrictions
Winter may be over, which means it’s too late to escape south for the coldest months of the year, but an announcement that the Canadian government has loosened travel restrictions for travelers entering Canada means that people who share living or working time on both sides of the border may be able to once again resume life as it was before the COVID-19 pandemic. We wanted to take a moment today to share how travel… Read More
Personal Tax Planning
Expanded Child Tax Credit Gets Ready To Roll Out Across United States
The United States’ expanded child tax credit program is about to get underway, meaning many working American families can expect to see monthly payments arriving in their bank accounts. The 39 million or so American families who qualify will start receiving payments (largely without having to take action) by July 15. Expanded program follows stimulus package US President Joe Biden announced the expanded program as part of a $1.9 trillion stimulus package called the “American… Read More