Last fall, we wrote about the US’s Global Intangible Low Taxed Income (“GILTI”) and its’ adverse tax impact on US persons that own non-US corporations. GILTI impacts US persons resident in Canada who own Canadian and other non-US corporations. Without effective tax planning, combined US and Canadian tax rates approaching 85% could occur as early as 2018. Our original blog entry can be found here: https://wldtax.com/global-intangible-low-taxed-income-gilti/ One of the concerns tax practitioners have regarding GILTI is its application to… Read More
Andersen Tax LLP attended the “Meet Your Employer Event” organized by CPA Alberta on Friday, September 15, 2018. This event was for post-secondary students and recent graduates seeking relevant work experience for the CPA Professional Education Program (CPA PEP). Candace Doig, Philip Mei, Paula Owen, Janice Do, and Valison Myers represented Andersen Tax LLP. Over 460 students and recent graduates attended this exciting event and we were delighted to connect with many great potential candidates. If you are a… Read More
Our Richmond, BC office is currently closed for building maintenance today (June 18) and possibly tomorrow. We apologize for any inconvenience. You may still reach our Richmond staff by email and our Calgary office is open for any deliveries. We will confirm when the building is open again. Thank you for your understanding.
Further Relief As they did before the April 15th tax filing deadline, the IRS once again issued guidance on the US transition tax right before a tax filing deadline. This time, the filing deadline is June 15, the extended filing deadline for US taxpayers abroad, the very group US transition tax impacts. Guidance published on Monday, June 4th provides filing and payment relief for individuals in certain circumstances. Highlights where an individual taxpayer has a total transition tax liability of… Read More
On April 2nd, the IRS and US Treasury issued more guidance on the US Transition Tax enacted by the Tax Cuts and Jobs Act (“TCJA”) in December 2017. As the US moves to a territorial tax system for profits earned outside the US, this provision assesses a tax rate on accumulated earnings and profits in specific non-US corporations owned by certain US corporations and US individuals. Our previous blog entries explaining the tax and IRS/US Treasury updates can be found… Read More