US citizens who are resident in Canada and own an interest in a corporate professional practice (such as a medical practice ) should consider their exposure to the passive foreign investment corporation (PFIC) rules. Canadian practitioners may be aware of the potential impact of the PFIC rules on Canadian mutual funds held by US citizens outside an RRSP. However, the scope of the rules extends beyond Canadian mutual funds.
Insights
How Canada’s AMT Rules Could Impact Your Charitable Donations
For many Canadians, charitable giving isn’t just about taxes – it’s about making a difference. But changes to the Alternative Minimum Tax (AMT) might make generosity a little more complicated, especially for ...
Choosing When to Blend Salary and Dividends in 2026: Tax Triggers You Can’t Ignore
Most incorporated business owners eventually arrive at the same question. “Should I pay myself a salary or dividends?” It sounds straightforward. In practice, it rarely is. The way you pull ...
Succession Planning: Passing the Torch with Purpose
If you own a family business, succession planning probably feels like a loaded topic. Not because you do not care about the future, but because it feels like once you ...
