Zeifmans is a full-service tax, accounting and consulting firm based in Toronto, Canada, ranked as one of Canada’s top 20 firms by revenue. Beyond the traditional offering, our services include business advisory, valuation, corporate finance, transaction services, corporate turnaround and insolvency, and estate and succession planning, supporting our 9,000+ clients through every step of the business life cycle.


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Increased compliance burden for US expatriates who own CFCs

The IRS has released new forms required for US citizens who own foreign (e.g. Canadian) corporations which are treated as Controlled Foreign Corporations (“CFCs”) for US tax purposes. The penalties for failure to complete these forms could be significant, beginning at USD $10,000 per year for each corporation.  Therefore, US taxpayers are advised to take…

Are you thinking of selling your family farm?

According to 2016 Census of Agriculture, there are 193,492 farms operating in Canada.  While the total number of farm operators is declining, the average age of a Canadian farmer is increasing, with the largest share of farmers ranging in age from 55 to 59.  Given that younger family members of family farm businesses, are typically not interested…

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