Creating multiple wills is a practice that has been associated with estate planning in Canada, particularly in provinces like Ontario for the last 20+ years. The primary reason people create multiple wills is to minimize the amount of probate fees that their estate would be subject to upon their passing and an element of ...
Navigating Troubled Waters: Avoiding Retailer Liquidation Despite the end of the pandemic, several resilient retail chains and franchises found themselves facing ongoing challenges. Rather than making resolutions, this period of the retail apocalypse brought forth an entirely new set of issues, while also amplifying existing ones. We saw shifts in consumer preferences and purchasing ...
“Life is a journey with problems to solve and lessons to learn but most of all. Experiences to enjoy.” Congratulations to all of our team members who passed the 2023 Common Final Exam (CFE) and moved one step closer with their career aspirations to become certified professional accountants. We extend our congratulations to this ...
We are pleased to announce that Zeifmans LLP was featured in Business Management Review Magazine’s 2023 Top 10 Accounting Services Providers in Canada! This acknowledgement recognizes Zeifmans’ track record of providing insightful, personalized advice, supporting over 11,000 clients and their generations to meet their financial and business goals. It also recognizes our guidance of ...
Launching a startup is no easy feat, and keeping up with Canadian tax compliance can seem overwhelming. It’s vital to work with an experienced advisor to understand which taxes you need to pay, when taxes are due and what your filing obligations are. Zeifmans is a proud partner of Schulich School of Business’s Startups ...
Growing a business during a turbulent economy comes with many complicated decisions. Whether you’re expanding an existing company or buying a new one, there are a variety of tax considerations to keep in mind. It’s important to work with a trusted financial advisor throughout this process. Your advisor will help you create a solid ...
Zeifmans is excited to announce its newest partnership with Pycap, an innovative Venture Capital Firm and Canada’s Leading Startup Visa (SUV) incubator. The firm, which is registered with the Federal Government as a Designated Organization, helps promising international start-ups succeed in Canada with its game-changing Startup Visa Program. As a top 10-rated Greater Toronto ...
Health care businesses of all sizes and specialties can benefit from Canada’s Scientific Research and Experimental Development (SR&ED) tax credit program, though many are deterred from applying due to the program’s complex application process and the many tax regulations governing Canada’s medical community. Health care businesses – such as clinics, bio-tech companies and research ...
The 2023 Federal Budget, presented by Finance Minister Chrystia Freeland on March 28, forecasts a $43 billion dollar deficit, with both spending cuts and tax increases. High income individuals may be impacted by changes to the Alternative Minimum Tax rules while small business owners may be interested in changes to rules allowing for intergenerational ...
On February 28, 2023, the U.S. Supreme Court released a 5-4 decision against the IRS’s position on the imposition of nonwillful violations of timely Foreign Bank Account Reporting (“FBAR”) reporting for U.S. citizens. Interestingly, the decision crossed the perceived Right Wing/Left Wing split of the Court as Justice Barret authored the dissenting opinion which ...