By Nizam Shajani, CPA, CA, MBA November 9, 2020 Under the common law a partnership exists when two or more persons carry on business in common with a view to profit. The rules governing the creation and legal existence of…
By Nizam Shajani, CPA, CA, MBA November 6, 2020 The taxation of partnerships function on a flow through basis. Partnerships are not taxable, nevertheless the tax attributes of a partnership are allocated to the partners. The partners are therefore responsible…
By Nizam Shajani, CPA, CA, MBA November 2, 2020 A partnership is a relationship between two or more persons. From a tax perspective, this includes a business that is carried on with a view to profit. However, a partnership is…
By Nizam Shajani. CPA, CA, MBA October 30, 2020 As your parents and grandparents age, you may find yourself in a position where you need to assist them with the management of their financial affairs. Taking on this responsibility requires…
By Nizam Shajani, CPA, CA, MBA October 29, 2020 The management of another person’s personal affairs is a sacred trust that is backed by legal obligations to the guardian or trustee. The Trustee has an obligation to keep trust property…
Nizam Shajani, CPA, CA, MBA October 26, 2020 While it is a difficult situation when a loved one passes away, this situation may be exasperated with the tax filing requirements for the deceased. Understanding the requirements helps. Planning for this…
By Nizam Shajani, CPA, CA, MBA October 23, 2020 “Life is really simple, but we insist on making it complicated.” Confucius. The estate of business owners often encounters the implacable reality of double taxation. This may occur when the shareholders…
Nizam Shajani, CPA, CA, MBA October 19, 2020 “What I know for sure is that what you give comes back to you.” – Oprah Winfrey. When creating or updating an estate plan, there are at least five methods for transferring…
By Nizam Shajani, CPA, CA, MBA October 16, 2020 Tax in Estate Planning “What counts is not the mere fact that we have lived. It is what difference we have made to the lives of others that will determine the…
October 3, 2020 By Nizam Shajani, CPA, CA, MBA The CERB ends October 3, 2020 or once you have received 28 weeks of benefits (whichever comes first). The CERB will transition to Employment Insurance (EI) and be called the Canada…