I published this brief article on crypto tax loss harvesting last year. It remains equally applicable now. Do yourself a favor and read it. findknowdo.com/news/12/20/202…

token market-making agreements (overt or covert) are dead, absolutely dead, after this ruling (they already were if you asked pretty much any U.S. cryptolawyer, but this seals the deal)

An employee can potentially pay a 101% tax on a stock option plan! I identified it for one of my clients (an employer who was offering the plan). Here it is simplified:

2024 tax season is approaching fast & complying with crypto taxes can be confusing. Here's a quick three-step guide to filing your crypto & NFT taxes👇 Step 1: Know the basic crypto tax rules Cryptocurrencies are treated as "property" by the IRS. (Notice 2014-21). A taxable

Interesting. I just found the new revamped T2200 form online. It's not publicly posted yet... but I loaded up the 2022 version of the form, and then changed the 22 in the web address to a 23... and up popped the new form.. lol.. Things have changed for claiming WFH expenses on

If you wonder why you should file your crypto taxes, here are the top 5 reasons 👇 1. Crypto is a high priority for the IRS. Regulators believe that crypto is contributing to the ever-increasing tax gap. The tax gap is the difference between the amount of taxes the IRS should

In a unique situation, a $5k RRSP can result in $2,890 of refunds/other benefits for someone that makes just $50k. That sounds like a good thing but it could also be a bad thing. That means if they were originally making $45k and increase their income to $50k, they would

CRA is getting aggressive on crypto. They aren’t just accepting crypto tax reports like Koinly. They want detailed transactions reports.

Tax advisors beware. 😨 On March 6, the Quebec Superior Court found that KPMG Canada was liable for approximately $3.9 million of taxes and interest assessed against one of its clients. KPMG had marketed a tax avoidance scheme to its clients for a fee of $150,000.

OMG ARE YOU SERIOUS?!! CRA ANNOUNCES BARE TRUSTS EXEMPT FROM FILING FOR 2023. WHY COULDNT THEY DO THIS SOONER?!! newswire.ca/news-releases/…

It's absolutely crazy how every American has been conditioned to believe that a higher tax refund is a good thing.

Uniswap: we don't exchange anything. SEC: no. u r exchange Coinbase: we are an exchange. SEC: no. u r broker-dealer Robinhood: we are a broker dealer! SEC: no. you iz clearing agency

Apparently this needs to be said. Triggering capital gains prior to June 25 is not subject to GAAR. taxinterpretations.com/content/799019

The Canadian federal govt has left us in a pickle, forcing taxpayers to realize capital gains before June 25 to pad its revenue for fiscal 2024-2025. Here’s one alternative to consider. canadian-accountant.com/content/though…

One of the reasons for doing the piece was to provoke that. But the new GAAR is unknown territory of course. The Explanatory Notes say you can incorporate a business to access the SBD or to sell the business just before sale to access the LCGE. But…

CRA waived $2.5B in penalties and interest from the "underused housing tax", and only collected $49m. The cost to administer the program? $59m, resulting in an overall loss to taxpayers of $10m. theglobeandmail.com/investing/pers…

CRA finds that there is no disposition where crypto is deposited with or staked through a platform that holds the crypto in trust taxinterpretations.com/content/920520

🚨Today: A Canadian 🇨🇦 securities regulator (the OSC) approved four Solana ETFs to launch later this week. Each will include staking: - 3iQ Solana Staking ETF - Purpose Solana ETF - Evolve Solana ETF - CI Galaxy Solana ETF The are expected to launch across Canada on April 16.

If you ever plan to sell your business, this is one of the most important things to know. Each person in Canada is entitled to a $1.25m tax-free sale of their business. It’s called the lifetime capital gains exemption (LCGE). You can actually multiply it through your family!

My feed is full of tax advice from people who dropped intermediate accounting twice. The good ones save $100K+. The bad ones waste time. The ugly ones get you a free orange jumpsuit. Here are the top 10 TikTok tax hacks - ranked from game-changers to federal time: