Steven Flynn, a partner with W.L. Dueck & Co. LLP, was interviewed by Business in Vancouver and discussed how potential US tax reforms may impact Canadian businesses.
Donald Trump’s surprise election win has people wondering about his tax plans. Many things said on the campaign trail never result in any change. To achieve any of his tax plans, Trump will need the cooperation of Congress, including those he likely alienated, if not excoriated during the campaign. Trump has made the common but elusive, if not contradictory promises of tax relief for the middle class, simplification of the tax code and growing the economy without adding debt or… Read More
Last month, we described a situation where a Canadian resident, nonresident alien of the US used the Canada – US Income Tax Convention (“Treaty”) to reduce their overall tax liability on employment income earned in the US. The second part of our Treaty example concerns the use of Article XIII to treat gains similar for US and Canadian tax purposes to reduce the overall tax on the gain. The facts, amounts and details, while theoretical, represent clients’ situations we have… Read More