Recent economic challenges associated with the COVID-19 pandemic have reversed course in a dramatic fashion for many businesses, with little opportunity to plan for the downturn. If your business is experiencing trouble, you’re not alone. Across Canada, middle-market businesses are seeking solutions to return to profitability. Though the exact strategy will differ for each organization, ….
Posts By: Kelly Bird
It goes without saying that many businesses with marketable security investments will have sustained losses due to the recent stock market challenges. At Zeifmans, we’ve been working closely with our clients throughout the COVID-19 crisis to date, ensuring that their business ventures remain profitable during this unprecedented time. Over the last 60 years, our tax ….
Everything has changed. In both our personal and professional lives, Canadians have experienced a rapid shift in social and business protocols in recent weeks. As business owners attempt to remain up-to-date with the latest health and safety imperatives to prevent the spread of COVID-19, financial markets worldwide have struggled. Even assumptions that were previously considered ….
All US individuals and corporations with April 15, 2020 tax deadlines have had their US federal income tax deadlines for filing and payments extended from April 15, 2020 to July 15, 2020. No interest or penalties will be assessed on individual taxpayers with less than a $1 million USD tax liability who are affected. For ….
The Zeifmans team wants to make you aware of the recent changes to financial regulations in the Cayman Islands, and we’re pleased to offer the services necessary to align with the new rules. The Cayman Islands Monetary Authority (CIMA) has released the following information pertaining to the registration process and ongoing requirements for private funds: ….
On March 18, 2020 the Canadian federal government announced an economic stimulus plan of $82B in COVID-19 Aid and below are a few highlights, as it relates to you and your business: To assist with cash flow: Eligible small employers can apply for a temporary wage subsidy for a period of three months up to ….
As the world grapples with the exponential spread of COVID-19, as a business owner, you need to be preparing for what could very well become an economic downturn that will last not just for the next few weeks, but possibly months. No one knows how long the virus will take to work its way through ….
Selecting a trustee or executor for your estate is among the most important decisions you’ll make in the estate planning process. Many people automatically assume that the role should be filled by a family member. After all, your family has a vested interest in the success of your estate; often they themselves are the beneficiaries. ….
The real estate and land development space is quickly changing, as a result, new approaches to development are emerging. Taking a page from the residential project, Reina, the first all- female real estate development group in Canada, our real estate team decided to examine development trends through new a lens, as we celebrate equality in ….
On March 2, 2020, the IRS released Revenue Procedure 2020-17 which has broad implications to US citizens in Canada who maintain Registered Education Savings Plans (“RESPs”) and possibly, Tax-free savings accounts (“TFSAs”). The highlights are as follows: Holders of Canadian RESPs will no longer have to file Forms 3520 and 3520-A for said accounts. The ….