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Proposed legislation introduced to reform cannabis taxation in the US

On July 14, 2021, Senate Majority Leader Chuck Schumer released a discussion draft of a detailed cannabis reform bill which, if enacted, would restore the deductibility of all expenses related to cannabis businesses and institute excise taxes on such businesses, resulting in big changes to cannabis taxation. Now backed by Democratic senators Cory Broker ...

The Biden Tax Plan: Where it stands

There has been a lot of talk in the recent news about the Biden tax plan moving forward in Congress.  However, there is no need for panic (yet!), as the potentially affected parties of this legislation are essentially “setting the table” to debate and draft the Biden tax plan. The Democrats hold a narrow ...

How Bill C-208 will ease the tax burden on family business

Family business is the backbone of the Canadian economy. When a family business is passed down to the next generation, we see so many positive ripple effects in the economy: A new entrepreneur is given the opportunity to succeed  New jobs are created  Industry advancements are made Loyal customers maintain a trusted partner Communities ...

Will stock option taxation changes hurt hiring?

Employers in Canada’s emerging industries like cannabis, psychedelics, and agritech are concerned about how upcoming changes to the taxation of stock options will impact their ability to recruit top talent. Traditionally, stock options are among the most enticing incentives used to attract senior talent; particularly the type of executives who are equipped to drive ...

Canadian real estate trends + opportunities in 2021

Looking back at initial predictions for the Canadian real estate market at the beginning of the COVID crisis, you might think you were reading a dystopian nightmare. All logic pointed to a crash, not unlike what certain markets saw in the wake of the 2008 recession. With unemployment rising, it was reasonable to assume ...

US Tax Bulletin: Summary of Biden’s potential proposed tax increases

During his presidential campaign, President-elect Joe Biden had proposed a number of tax changes which could impact US expatriates’ resident in Canada.  With the recent Georgia Senate win, Biden’s Democratic Party will now control both houses of Congress. With control of both Houses of Congress, Biden has a clear path to pursuing his legislative ...

The wisdom continues with Zeifmans’ Non-Resident Digital Event Series: High Net Worth Edition

Our Non-Resident Digital Event Series continues, with our second installment, “High Net Worth Edition: Legacy, Preservation, and Optimization”, serving up more wisdom from three new industry experts. Continuing our earlier series of online interviews, followed by a live webinar with one our Nexia International affiliate firms, Zeifmans team members have engaged in value-packed conversations ...

Executor and beneficiary: Know your role

When a person passes away, there are several important duties to be performed in order to fully carry out their financial wishes. Simply having a will isn’t enough to make sure that an estate is divided according to an accurate depiction of the deceased’s instructions. An executor must carry out a number of responsibilities ...