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There are a number of registered savings plans available to Canadian residents that provide tax and other benefits. However, U.S. persons who have an interest or involvement in these plans may be subject to punitive U.S. tax, additional U.S. filing requirements...

This article discusses transferring your U.S. retirement plan to your registered retirement savings plan (RRSP) or registered retirement income fund (RRIF) on a tax-efficient basis. This planning is only advantageous in certain situations - for more information...

If you are receiving eligible pension income, you may be entitled to claim both a federal and a provincial/territorial tax credit. This article addresses the types of pension income that qualify for the tax credit and what to consider if you would like...

A home is often the single largest purchase made by Canadians. This article addresses a number of tax and estate planning questions surrounding the principal residence exemption, such as what qualifies as a principal residence and some implications of...

For many business owners, using an investment holding company is a popular strategy to save for retirement. However, when it comes to earning investment income through a corporation, you need to consider both corporate taxes and personal taxes when you...

A debate that continues within the accounting and financial planning industry is for an owner-manager, whether to pay yourself a salary, dividend, or both. This article discusses the tax implications of receiving a salary versus dividend, as well as some...

As a sole proprietor, you may wonder whether to incorporate your business. While incorporating is good for some, not all businesses will benefit from a corporate structure. This article highlights some of the points you may consider when deciding whether...

If you’ve established a registered education savings plan (RESP), you may now be wondering how you can access the funds in the plan. This article explores the different types of RESP withdrawals. It also discusses the issues that may arise if the subscribers...

For U.S. persons living in Canada, knowing the Passive Foreign Investment Company (PFIC) rules is extremely important. Examples of holdings that typically fall under these rules are Canadian mutual funds and exchange trade funds. For more information...