Feigenbaum Law

Corporate Tax Planning

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

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

A closed sign representing commercial businesses closed due to covid restrictions

Business Management

Some Industries Enjoy Government Support, While Others Left In The Cold During COVID-19’s Second Wave

With a second wave of COVID-19 spreading across much of the world, Canada has not been spared from a growing number of cases related to the virus. While the Canadian government was quick to issue various forms of financial support to businesses, employers and individuals during the initial wave of COVID-19, things have slowed down after Canada enjoyed a relatively quiet summer and fall. With the rise in cases, the government has announced some new… Read More

A handshake representing a tax court holding the Canada Revenue Agency to a deal made with a taxpayer

Corporate Tax Planning

Tax Court Holds CRA to Deal It Claimed Was Made in Error

There’s an old saying that goes, “a deal is a deal.” It means simply that when someone makes a deal, they should honour it, even if they later change their mind. It’s not quite the law when it comes to contracts, but the principle of abiding by the terms of a deal one enters into can be enforced from time to time. A perfect example of this is seen in a… Read More

An open sign in a shop window representing small businesses seeking loans to get them through COVID-19

Corporate Tax Planning

Government of Canada Announces Changes to CEBA

Since the outbreak of the COVID-19 pandemic in Canada, the government of Canada announced a number of support programs for individuals and businesses. One of these, the Canada Emergency Business Account (“CEBA”) provided loans of up to $40,000 for qualifying businesses. The government has recently announced an expansion of this benefit. What is CEBA? CEBA was originally launched on April 9, 2020, to provide interest-free loans of up to $40,000 to small businesses to help… Read More

A vintage photo of a window for a business where people could pay income taxes in NYC

Corporate Tax Planning

Report Indicates Staggering Number of High-Income Non-Filers in the United States

A recently released report from the United States’ Treasury Inspector General for Tax Administration (TIGTA) raised a flag concerning the Internal Revenue Service’s failure to pursue high-income earners who fail to file their taxes. Just how rampant is non-filing amongst high-income earners? The results of the study may be enough to raise eyebrows. How much money is lost due to non-filing? The report states that non-filing, which is a crime when… Read More

A spilled jar of coins

Corporate Tax Planning

Federal Government Updates CERB and CEWS Programs

The Canada Revenue Agency is continuing to update information related to the Canada Emergency Wage Subsidy (CEWS) as well as other benefits related to COVID-19  as the pandemic continues to impact the Canadian economy. In today’s blog, we would like to update our readers on some of the news. Changes to the Canada Emergency Wage Subsidy  The Canada Emergency Wage Subsidy was introduced to help employers re-hire workers who were laid off as a result… Read More

A paper tax statement for 2019 representing tax deadlines in Canada

Corporate Tax Planning

Canada’s Tax Season is (Mostly) Over

COVID-19 has had a huge impact on the tax season in Canada, hitting just under two months before personal income tax filings were due and largely shutting down the Canadian economy (as well as those all over the world). Fortunately, the Canada Revenue Agency extended tax deadlines for most people. Today we want to look at which deadlines have passed, which ones have “sort of” passed, and which remain in effect. Personal Tax Deadlines Individuals… Read More

A mailbox with a house address on it outside of a home, representing personal residency

Corporate Tax Planning

Canada Revenue Agency Addresses Residency for Tax Purposes

A few weeks ago we wrote a blog about how the United States’ Internal Revenue Service (The IRS) is addressing the issue of non-Americans being forced to stay in the United States due to COVID-19, and as a result, running the risk of becoming U.S. residents for income tax purposes. Last week, the Canada Revenue Agency published a memo addressing similar concerns for those running the risk of becoming Canadian… Read More

The Canadian flag waving in front of the Parliament building tower

Corporate Tax Planning

Navigating the Canada Emergency Wage Subsidy

The implementation of the Canada Emergency Wage Subsidy (CEWS) is meant to provide economic relief for the private sector by offering wage subsidies for employers as an incentive to keep people on the payroll or return those who have been laid off back to work. The legislation is available to many private-sector employers who have suffered a significant loss in revenue due to COVID-19 but are continuing to pay employees. Like many pieces of extensive… Read More