The Latest at Collins Barrow Halifax/Dartmouth

  • Collins Barrow

    A little free advice: encourage your auditor to speak freely

    Having led over 1,000 audits of almost every shape and size, I often find myself in possession of extremely confidential and sensitive client financial information. This position of privilege occasionally provides me with a glimpse into a cross-section of some of the most successful (and sometimes unsuccessful) businesses in Canada each and every year. It is from this vantage point that I am offering a little free advice from a simple auditor to any client or potential client.

    Collins Barrow

    Infographic: The pros and cons of incorporation

    If you are a doctor or dentist who is considering incorporating, it is important to know when it’s appropriate to take this step. Could income-splitting, the tax deferral and the capital gains exemption have a positive effect on your savings? Not everyone is in a position to benefit from these opportunities, but if the examples outlined in this infographic apply to your practice, incorporating could be right for you.

    The Great Canadian Tax Grab

    If you think that Canadians should be encouraged to start businesses, grow them, generate jobs and create economic activity, you need to pay attention to the July 18, 2017 proposals put forward by the Department of Finance. If implemented, the proposed changes will significantly increase the tax liability of Canadian-controlled private corporations (CCPCs) and their shareholders, perhaps ultimately resulting in substantially less capital available for reinvestment into the Canadian economy. It's your opportunity now to speak up. 

  • Collins Barrow

    3 tips for filing U.S. taxes under the new IRS procedure

    By Todd King

    Unlike other countries in the developed world, U.S. citizens residing in Canada are required to file income taxes in both Canada and the United States.

    However, both countries have developed tax policies independent of one another. What is taxable in one country may not be taxable in the other and vice versa, resulting in the increased possibility of double tax exposure.

    Because of complications like these, some American citizens residing in Canada have failed to remain compliant with U.S. tax regulations. A new IRS procedure is attempting to eliminate, or at least reduce, the penalties for non-compliant expatriates.