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A home office representing new CRA deduction process for work at home expenses

Corporate Tax Planning

COVID-19 Allows Tax Breaks For Those Working From Home

The COVID-19 pandemic saw a huge increase in the number of people working from home. Many people in all parts of Canada still find themselves working from home, and likely will for some time. Of course, working from home usually means the employee faces costs they wouldn’t otherwise have to deal with when working in an office or other workspace. Employees have had to pay for costs associated with setting up a home office, including… Read More

The Ambassador Bridge representing a US taxpayer spending part of the year in Canada

Cross-Border Tax Issues

Creditors Attempt to Lower Bankrupt’s US Tax Bill to Secure Payment

People who work or do business on both sides of the Canada-United States border often have tax obligations to both governments as well. A failure to employ a tax plan that takes these considerations into account can leave an individual with a larger tax bill than they might expect. In an interesting case from a bankruptcy court in the United States, a taxpayer had entered into bankruptcy. With the IRS as… Read More

Players in a SEC NCAA football game representing the compensation of student athletes

Cross-Border Tax Issues

Question Over NCAA Compensation Makes Its Way To Supreme Court

The compensation of college athletes in the United States has been a controversial topic that has picked up steam over the last few years. Just this week it was reported that the U.S. Supreme Court will hear a petition from the National Collegiate Athletic Association (NCAA) arguing that the organization should be able to continue to restrict athlete compensation. The appeal stems from a lower court decision that ruled in favour… Read More

An art gallery representing a family business that was said to have been a personal endeavour for one taxpayer.

Corporate Tax Planning

Losses Incurred as Part of a Personal Endeavour vs. in Pursuit of Profit

For many new business startups, the first few years can be tough. If a business is lucky, it can make it through those lean years and eventually grow into a successful operation. It’s not uncommon for people who start a small business to expect to make little to no income in these early years. However, a recent decision from the Tax Court of Canada shows that losses incurred due to a… Read More

Sports & Entertainment

NBA Announces Plans for 2021, NHL Still in Discussions

There have been several updates since we last provided an overview of professional sporting leagues in Canada and the U.S. In the latest news, which we will discuss below, the NBA has firmed up its plans, though there special regulations in place for athletes on Canada’s only team, the Toronto Raptors. The NHL is a little further behind in their modified return to play. And in the meantime, the NFL is coming close to… Read More