Entries by Elena Hanson CPA

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Specialist vs. generalist – What kind of employee are you

This article was originally published on October 4 2019 by Globe and Mail Inc.  At your company, are you a jack of all trades or master of one? Shakespeare might put it like this: ‘To specialize or not to specialize, that is the question.’ Indeed, it’s a question often asked by business owners, managers and […]

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Gift-giving May Come At A Major Cost

This article was originally published on August 26 2019 by Private Wealth Canada  We all like receiving and giving gifts. But how does tax law view the act of giving? Did you know that giving a gift could have tax implications? In fact, depending on the value of the gift, there could be serious tax […]

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How new cryptocurrencies are disrupting Tax Reporting obligations (to IRS and CRA)

This article was originally published on September 17 2019 by Financial Independence Hub  The latest buzzword is “disruption” and nothing has caused more disruption in the investment world than virtual currency, most commonly referred to as cryptocurrency. If you’re considering cryptocurrency as an investment option, there are a few things to know. In a nutshell, […]

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Employer or PEO — who is the daddy?

This article was originally published on August 19 2019 by The Lawyer’s Daily (www.thelawyersdaily.ca), part of LexisNexis Canada Inc If you’re a Canadian resident working for a U.S. company in Canada, there are a multitude of crossborder implications regarding employment law, payroll reporting, income taxes and Social security taxes. The evolution of the professional employer […]

IRS Sending Warning Letters to More Than 10,000 Cryptocurrency Holders

The Internal Revenue Service has begun sending letters to more than 10,000 cryptocurrency holders, warning they may have broken federal tax laws. The agency wasn’t specific about the possible violations it was reviewing, but those who hold digital currencies could be subject to a variety of taxes, especially on capital gains. “Taxpayers should take these […]

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The CRA sent more than 700,000 documents to the IRS in 2017

The Canada Revenue Agency (CRA) sent more than 700,000 records to the U.S. Internal Revenue Service (IRS) in 2017 as part of a tax-information sharing deal between the two countries, said a CRA official during a roundtable discussion at the annual national conference of the Canadian arm of the Society of Trust and Estate Practitioners […]