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So far Quadrant Accounting has created 412 blog entries.

Potential for massive IRS tax penalties still hangs over U.S. citizens living in Canada

Most people are unaware that the U.S. is the only country that imposes citizenship-based taxation on it's citizens no matter where they live or where they earned the money. That means that U.S. citizens living in Canada pay taxes to both Canada and the U.S. They are required to disclose all financial accounts in foreign [...]

By |2019-11-22T12:55:09-07:00January 8th, 2020|News|0 Comments

Out from behind the eight ball: Top tips on how to save your small business its much-needed money

Small businesses can keep more of their money by taking advantage of a number of ways to save. For instance, try co-sponsoring an event with a complementary business in order to share the expenses as well as the networking benefits. Join a professional organization that offers discounts and other beneficial perks that will help you [...]

By |2019-10-07T11:29:17-06:00January 7th, 2020|Commentary|0 Comments

Tackling debt Canadians’ top resolution for 2020: CIBC poll – BNNBloomberg.ca

For the 10th consecutive year, Canadians have voted getting out of debt as their top financial priority. A CIBC survey showed paying bills (18 percent) and growing wealth (13 percent) to be the next highest goals, with retirement savings being low on the list. More than a quarter of Canadians borrowed money in 2019, and [...]

By |2019-12-31T15:04:22-07:00January 1st, 2020|News|0 Comments

Personal Investor: Sometimes a TFSA is better than an RRSP

With the March first deadline, many are ready to contribute to their RRSP accounts, but you might want to put your money elsewhere. While RRSP investments grow and can be bought and sold with no tax consequences, they are taxed at withdrawal. TFSA has the benefit of growing tax-free and funds not being taxed at [...]

By |2019-10-07T11:27:14-06:00December 31st, 2019|Commentary|0 Comments

Paying RRSP, TFSA investment fees from outside the accounts not an advantage, Finance says

There has been some confusion over the tax implications of paying RRSP and TFSA account management fees from outside those accounts. The confusion began when the CRA told attendees at the November 2016 Canadian Tax Foundation Conference that starting Jan. 1, 2018, paying registered plan fees from non-registered, or open, accounts would incur a tax penalty equivalent [...]

By |2019-11-22T12:43:20-07:00December 25th, 2019|News|0 Comments

What are the tax implications of donating land?

If you are a Canadian landowner with a commitment to the land, you may be considering making a private land gift to preserve Canada's ecological diversity. Before you call a charity, check out these how-to tips on different ways to make land donations or to arrange for conservation agreements on land you may want to preserve [...]

By |2019-11-22T12:52:20-07:00December 22nd, 2019|News|0 Comments

If you’re thinking of putting assets into joint ownership with your children, read this first

There are some things you should be aware of before you set up joint accounts with your adult children to protect your assets from being subject to probate fees upon your death. Firstly, understand that probate fees or taxes are different in every province and territory. In Alberta, there is a flat probate fee, which [...]

By |2019-11-22T12:42:34-07:00December 18th, 2019|News|0 Comments