To Sell or Not To Sell? COVID Tax Advice for Business Owners

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To sell or not to sell…that is the question…on the minds of individuals and business owners holding assets that have fallen in value. Fortunately, appropriate tax planning for losses can minimize tax payable and increase cash flow during a period of economic downturn. There is a dizzying array ...

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The CRA is Now Auditing US Real Estate Transactions of Canadians – Going Back Six Years

Real Estate Market

August 6, 2020   The Canada Revenue Agency’s (CRA’s) audit programs continue to be updated. On June 25, 2020, the CRA announced one of its newest programs: they will now audit the US real estate transactions of Canadians, looking back as many as six years. Property records in the US will ...

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Sloan Partners Mentors Film and TV Producers with the Toronto International Film Festival

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July 3, 2020 On July 2nd, Shawn Bausch, Sr. Tax Manager at Sloan Partners LLP, completed a mentorship session for new producers of film and TV.  Ten new producers attended this private session, getting personalized advice about running the finances of a production, raising money, and optimizing ...

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Freezes and Re-Freezes – Beware of Inappropriate COVID-19 Tax Planning

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The COVID-19 economic downturn presents tax planning opportunities to business in light of depressed asset values and business losses. In particular, Estate Freezes and “Re-Freezes”, and using losses on portfolio investments are common strategies available to generate immediate cash flow and ...

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Capital Gains Stripping Redux – COVID implications

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Get ready to pay for it The latest parliamentary budget report [i] estimates a $252.1 Billion deficit in 2020-2021 while direct COVID support so far exceeds $150 Billion. We have touched upon this in past articles, and now it’s fairly acknowledged that taxes will likely be increasing to pay for ...

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Three Personal Tax Tips in a Covid-19 World

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Home Office Expenses While the health effects of the pandemic continue to unfold, so too do the tax implications of the actions required to combat it.  We are early in the tax year, but most employees in Canada have been required to work at home for at least some portion of their work.  Under ...

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Sloan Group Releases COVID – 19 Financial Assistance Guide

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  These are extraordinary and unsettling times.  COVID-19 is causing significant disruptions to our clients, our partners, and the many communities we serve.  To help you, we have assembled selected resources to consult in assessing how to respond to this crisis.   Please feel free to ask ...

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Confused about Canadian Government Benefits for COVID-19? Here’s a Plain Language Guide

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Last week, Prime Minister Trudeau introduced an $82-billion dollar stimulus package to help Canadians through the uncertainties of COVID-19. While grateful for the financial assistance, the many government announcements have also led to confusion among Canadian individuals and business owners ...

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Canadian COVID-19 Relief: Temporary Wage Subsidy For Employers

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The government continues to release information on how businesses and individuals can access the financial assistance being produced for all of us financially impacted by COVID-19. Details on how to access the Temporary Wage Subsidy for employers can be found here. Prime Minister, Justin ...

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The 2019 CPA Final Exam Results are In!

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The 2019 CPA final examination results were released on January 7, 2020. Sloan Partners LLP is very pleased that our two candidates, Eric Mui and Allison Ho were both successful in passing this difficult milestone in their professional careers. Eric and Allison left our Firm in December 2019 to ...

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