income tax – Investment Executive https://uat-phoenix.investmentexecutive.com Canada's news source for financial professionals Mon, 03 Feb 2025 20:25:16 +0000 en-US hourly 1 https://wordpress.org/?v=6.1.1 https://uat-phoenix.investmentexecutive.com/wp-content/uploads/sites/3/2018/01/cropped-favicon-1-32x32.png income tax – Investment Executive https://uat-phoenix.investmentexecutive.com 32 32 Claims of home-office expenses increased 41% last tax season https://uat-phoenix.investmentexecutive.com/news/industry-news/claims-of-home-office-expenses-increased-41-last-tax-season/ Mon, 03 Feb 2025 19:55:31 +0000 https://www.investmentexecutive.com/?p=501310 Some employees may have larger deductions using detailed method relative to temporary flat-rate method

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]]> Legal challenges to capital gains tax changes aim to restore certainty to taxpayers https://uat-phoenix.investmentexecutive.com/news/industry-news/legal-challenges-to-capital-gains-tax-changes-aim-to-restore-certainty-to-taxpayers/ Wed, 29 Jan 2025 21:16:07 +0000 https://www.investmentexecutive.com/?p=501230 CRA is “trying to have it both ways,” legal counsel says

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]]> Form T2200 has 2 changes for 2024 tax-filing season https://uat-phoenix.investmentexecutive.com/news/industry-news/form-t2200-has-2-changes-for-2024-tax-filing-season/ Fri, 24 Jan 2025 20:47:20 +0000 https://www.investmentexecutive.com/?p=500959 Updates related to home office expenses aim for simplicity

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]]> In-kind securities not part of extended deadline for charitable donations https://uat-phoenix.investmentexecutive.com/news/industry-news/in-kind-securities-not-part-of-extended-deadline-for-charitable-donations/ Thu, 23 Jan 2025 22:23:15 +0000 https://www.investmentexecutive.com/?p=500858 Finance releases draft legislation, adds to tax-filing uncertainty

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]]> Tax reminder: Clients with short-term rental income must comply with rules or lose deductions https://uat-phoenix.investmentexecutive.com/news/industry-news/tax-reminder-clients-with-short-term-rental-income-must-comply-with-rules-or-lose-deductions/ Wed, 22 Jan 2025 20:25:11 +0000 https://www.investmentexecutive.com/?p=500729 Non-compliance results in denial of expense deductions, raising taxable income

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]]> Help clients 65 and older make the most of their tax returns https://uat-phoenix.investmentexecutive.com/news/industry-news/help-clients-65-and-older-make-the-most-of-their-tax-returns/ Tue, 21 Jan 2025 21:16:15 +0000 https://www.investmentexecutive.com/?p=500649 Here's a cheat sheet of helpful credits, benefits, deductions and expenses

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]]> Deadline nears to repay 2024 interest on prescribed-rate loans https://uat-phoenix.investmentexecutive.com/news/industry-news/deadline-nears-to-repay-2024-interest-on-prescribed-rate-loans/ Mon, 13 Jan 2025 20:33:40 +0000 https://www.investmentexecutive.com/?p=500097 Why clients must avoid late payment, consider current loan structure

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]]> Finance confirms CRA will administer capital gains tax changes https://uat-phoenix.investmentexecutive.com/news/industry-news/finance-confirms-cra-will-administer-capital-gains-tax-changes/ Tue, 07 Jan 2025 15:28:49 +0000 https://www.investmentexecutive.com/?p=499626 Whether Parliament is prorogued or dissolved, the agency generally continues to administer proposed legislation

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]]> Finance raises auto deduction rates, maintains zero-emission ceiling https://uat-phoenix.investmentexecutive.com/news/industry-news/finance-raises-auto-deduction-rates-maintains-zero-emission-ceiling/ Mon, 30 Dec 2024 21:56:34 +0000 https://www.investmentexecutive.com/?p=499344 Deduction limits have increased in recent years in response to inflation

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]]> Crypto tax evasion lands U.S. man in jail https://uat-phoenix.investmentexecutive.com/news/from-the-regulators/crypto-tax-evasion-lands-u-s-man-in-jail/ Fri, 13 Dec 2024 21:17:35 +0000 https://www.investmentexecutive.com/?p=498559 Texas man gets two years for failing to report capital gains on crypto trades

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