House with U.S. money and U.S. tax returns indicating your responsibilities as a U.S. citizen.

Things You Need to Know When it Comes to U.S. Taxes For Individuals: Accidental Americans

Author: Cyndy Packard Osode, CPA, CA, CPA (TX, USA), CGMA  It is becoming more well-known that United States citizens have income tax filing requirements from their home country, regardless of where they reside. However, there are some people who do not know they hold U.S. citizenship. Are you potentially one of these “accidental Americans”? Read on to learn more … What is an “accidental American”? An “accidental American” is someone who has inadvertently acquired U.S. …

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Canadian flag overlayed on U.S. currency to highlight mistakes Canadians make with U.S. taxes

Mistakes Canadians make with U.S. taxes

Author:  Cyndy Packard Osode, CPA, CA, CPA (TX, U.S.A), CGMA Tax requirements in the United States are quite different than those of other countries around the world. This article will outline some of the common mistakes Canadians make when it comes to U.S. taxes. Do you recognize yourself in any of these scenarios …? Not filing a U.S. tax return when required The United States is one of the few countries in the world that …

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Business people planning to buy a business

Business Matters

This month covers some best practices for buying a business and tax planning: Management – Buying a Business: A Little Planning Goes a Long Way Taxation – Voluntary Disclosures Program Technology – What Is Blockchain, and Why Do You Need to Know What It Is? Wealth Management – Babies: The Cost and How to Plan for It   Management Buying a Business: A Little Planning Goes a Long Way Christene H. Hirschfeld, Q.C., ICD.D Last …

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Business owner shaking hands on selling his business and having a valuation report to ensure success.

17 Reasons You Should Have A Business Valuation

There are many reasons to seek valuation. Seek valuation if you find yourself in a situation listed below. In my last post, I listed the three types of valuation reports and what they entail, namely: Comprehensive Valuation Report; Estimate Valuation Report; Calculation Report. Understanding when you need a business valuation is important when making major decisions and determining the type of valuation report you need. 17 Reasons Why You Should Consider a Business Valuation: Buying …

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Succession Planning for Business Owners

How to Focus your Succession Planning for your Hard-Earned Business?

“Succession Planning” is a term that is being used a lot in today’s business world. It refers to the process of exploring your options so that you can protect the value of your hard-earned business investment and choose the right exit strategy that makes sense for you, your business, and your family. This process takes thought, planning and time to arrange and implement. Who should you include in your Succession Planning? Statistics show that most …

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Building Value before you Sell your Business

Building Value Before you Sell your Business

Whether you started your business from scratch or bought an existing business, it represents a significant asset into which  you have invested a lot of time, money, and effort. Owners want their business to be as profitable as possible, and to one day sell it and use the proceeds to help fund their retirement. As a business owner, you want to make your business look as appealing to potential buyers as possible. The first step …

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What to Expect when the CRA Contacts You

Identifying Legitimate Communications from the Canada Revenue Agency

Scammers posing as Canada Revenue Agency (CRA) employees continue to contact Canadians, misleading them into paying false debts. These persistent scammers have created fear among people who now automatically assume that any communication from someone representing the CRA is not genuine. This article will remind Canadians that the CRA does indeed contact taxpayers by phone, email and mail for legitimate reasons. The following tips will help Canadians identify legitimate communications from the CRA. To identify …

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