IRS & CRA are Actively Looking for Cryptocurrency Traders and Investors

New york, USA - Avgust 22, 2017: Male hand holding Bitcoin in front of cryptocurrency invest chart.

In late July the IRS sent letters to 10,000 owners of cryptocurrencies advising them of their tax obligations.  In the second week of August, the IRS sent a second round of letters to known users of certain cryptocurrency exchanges.  In some cases, the letters sent in July and August come with ...

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Don’t Underestimate the Importance of Tax Planning

Blackboard Business Strategy Concept

Taxes are a tricky business, making tax planning an essential tool for any business to plan ahead effectively. Regular tax planning can help business owners lower the amount of taxable income, reduce the tax liability, and gain more control of when taxes are paid. At Sloan Partners, we see ...

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Think Twice Before Leasing That High-End Vehicle

Halifax, Canada - July 29, 2018 - Porsche 911 Carrera S at the Porsche of Halifax dealership on Kempt road in Halifax's North End.

If your business has not received a letter from the CRA reviewing your Corporation’s automobile expenses, one may be coming soon.  Hot on the heels of this summer’s Truck and SUV project, CRA has begun its vehicle expense project. What are the consequences? The goal of the vehicle expense ...

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Client Spotlight: The Accountant’s Coach

Client Spotlight - Frank Kreze

One of Sloan Partners’ valued clients is also their valued advisor and management training partner. LMI Canada is a coaching and leadership organization, focused on improving communications, productivity and goal setting. In a win-win situation, LMI Canada came to realize that their financial ...

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Ontario Budget Commentary – How Will You Be Affected?

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Contents Overview Business Income Tax Measures Personal Income Tax Measures Estate Administration Tax Other Measures Overview The Ontario Government plans to spend more than they’ll earn in revenue during 2019-2020 resulting in a deficit of $10.3 billion. There are no changes in corporate or ...

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Cervélo Cycles: Riding Entrepreneurial Success

Client Spotlight v1

The story of Cervélo Cycles is not unlike many other entrepreneurial success stories, whose founders combined a deep-rooted passion and a killer work ethic to succeed against the odds to create a meaningful business. Long-time Sloan Partners client Anna Dopico left behind her career in finance ...

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Canadian Cycling History

To Make Riders Faster

  In 1995, Phil White and Gerard Vroomen met in a composite materials lab while pursuing advanced engineering degrees at McGill.  In 1996, they founded Cervélo Cycles Inc.  Cervélo was a significant disrupter and innovator while developing breakthrough technology and became one of the ...

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Client Spotlight: Introducing the Magic of Opera to Children

Client Spotlight - Ken Hall

Ken Hall admits that he doesn’t run with the toughest crowd.  As the Managing Director of the Canadian Children’s Opera Company (CCOC), Ken has the pleasure of working with some of the most talented children in the Greater Toronto area.  And let’s face it, opera-loving children don’t conjure up ...

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Update: TOSI (The Tax on Split Income)

Accounting , Accountancy, Audit Concept. Business people using calculator review data in financial statement.

In July of 2017, the Department of Finance sent the Canadian tax community and business owners into a turmoil when they announced radical changes to the taxation of businesses and owners while most people were away for vacation.  One of the initiatives which survived in a modified form was the ...

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1994 Capital Gains Election

Financial consulting concept. Compass needle pointing the word gains over black background with blur effect

1994 Capital Gains Election (a BLAST from the Past) Recently, we have prepared a number of personal tax returns for clients who own property acquired before 1994. Property includes cottage property, artworks, securities and rental property.  Way back in 1994, the government eliminated the ...

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