The new year is here, which means it’s time to start thinking about your personal taxes for 2020. Stay a step ahead by preparing documents required for the upcoming tax filing.
Here are the top things you need to consider:
If so, CRA has released new rules to allow you to deduct some of the additional costs you may have incurred as a result. These include the following:
Did you know that Canadians must file a U.S. tax return if they own something of value over $60,000 USD upon their death? Whether you are a snowbird who owns a home, an investor with U.S. Stock, or have a boat permanently situated in the U.S. that you plan to bequeath to a loved one, your estate will have to file a U.S. Tax return. regardless of whether an estate tax liability exists.