How does PST (Provincial Sales Tax) work and how is it different from GST (Goods and Services Tax)?

PST is a provincially levied retail sales tax that is generally applied to goods or services acquired for personal use in British Columbia, unless there is a specific exemption. GST is a federally levied value added consumption tax that is applied to the supply of most of the goods and services purchased in Canada. Read More

Grant Gilmour

What is the cost of asking tax questions? How can I avoid huge fees when I have a “simple” or “quick” question?

One of the things that often creates unnecessary friction between clients and advisors is the cost versus value of advice asked for and received.

Read More

CALLING ALL TAX EXPERTS TO ANSWER THIS QUESTION!

IF MR. TRUMP WERE YOUR CLIENT…WOULD YOU ADVISE MR. TRUMP TO RELEASE HIS TAX RETURNS PUBLICLY WHILE HE IS UNDER AUDIT?

Dear Mr. Trump,

As the CEO of www.taxconnections.com I want to ask tax professionals of every political affiliation how they would
advise you… if you were their client. The media is giving you a Read More

With my family snugly content amidst a long holiday season I felt compelled to pen some thoughts regarding the ubiquitous United States Tax Code and all its myriad of seemingly scary changes looming around the proverbial corner. This post lists ten tax matters to be aware of in the new year that have come up in conversations with clients. It also offers four recommendations to minimize tax obligations that I’ve found myself repeatedly trumpeting whenever asked. And finishes with some quick reference tax facts.

Be Aware:

1. For 2013 the self-employment tax has reverted back to its normal 15.3% rate, and the limit for the Social Security portion of the tax has increased to $113,700. Read More