As part of the US Tax Reform, there is a new tax of up to 15.5% on the retained earnings of Controlled Foreign Corporations. This is a new issue, and much information on this is still rolling out, so I plan to keep you abreast on this issue. You will wish to seek professional advice…
Author: Bert Mulder
IRS CRIMINAL DIVISION NOW SEEKING NON-COMPLIANT US CITIZENS & GREEN CARD HOLDERS
The IRS Criminal Investigation (“CI”) Division is abruptly and drastically expanding its activities to locate and prosecute non-compliant US taxpayers. ACTIONS THE IRS IS TAKING International Tax Enforcement Group Don Fort, the newly appointed IRS Chief of Criminal Investigation is forming an “International Tax Enforcement Group”, in addition to a new “Nationally Coordinated Investigations Unit”.…
Interest rates for the first calendar quarter
The Canada Revenue Agency (CRA) announced today the prescribed annual interest rates that will apply to any amounts owed to the CRA and to any amounts owed by the CRA to individuals and corporations. These rates will be in effect from January 1, 2018, to March 31, 2018. There have been no changes to the prescribed interest rates…
Bert Mulder Scholarship for Church Organists
Congratulations to Heather Ball on winning the Bert Mulder Scholarship. Wish you the Lord’s blessing in your organ studies
Government Announces the 2018 Automobile Deduction Limits and Expense Benefit Rates for Businesses
December 22, 2017 – Ottawa, Ontario – Department of Finance Canada The Department of Finance Canada today announced the income tax deduction limits and expense benefit rates that will apply in 2018 when using an automobile for business purposes. Most of the limits and rates that applied in 2017 will continue to apply in 2018,…
DoxCycle version 7.0.32479.0—Add cross-reference links, Filter menu, Add documents to the classifier
I really value my association with Trilogy Software. I have been working with Colan from Trilogy on these software improvements since last tax season, and it is great to see them in a full release now. My association with Trilogy is almost like having custom made sofware. I intend to use Doxcycle in such a…
Just had a client fall for the I-Tune gift card scam today...
I just had a client today that fell for the scammers, and was taken for $2,500. Must be a coincidence, but they said they talked to ‘Jenny’ at my office… DO NOT! DO NOT FALL FOR THIS SCAM! So happens that I have a Jennifer at my office. They however did not talk to her,…
Congress is considering giving Americans in Canada an incredible tax break
Stay tuned, and call me if you have questions: Charles M. Bruce: This change would align U.S. rules with that of just about every other country in the world The U.S. Congress has been mulling changes in the way American individuals abroad are taxed.Canadian Press Special to Financial Post November 7, 2017 10:26 AM EST…
Interest rates for the fourth calendar quarter
Interest rates for the fourth calendar quarter The Canada Revenue Agency (CRA) announced today the prescribed annual interest rates that will apply to any amounts owed to the CRA and to any amounts owed by the CRA to individuals and corporations. These rates will be in effect from October 1, 2017, to December 31, 2017. There…
Canada Revenue Agency announces maximum pensionable earnings for 2018
The maximum pensionable earnings under the Canada Pension Plan (CPP) for 2018 will be $55,900—up from $55,300 in 2017. The new ceiling was calculated according to a CPP legislated formula that takes into account the growth in average weekly wages and salaries in Canada. Contributors who earn more than $55,900 in 2018 are not required or permitted…