Hello Mr. XXX, I hope you are well. Rental income earned in France is also taxable in Canada. The tax treaty mentions that it is taxable in France but does not mention that it is only taxable in France. Canada taxes worldwide income by default: you must therefore declare this income in both...
Read moreThis article discusses the tax impacts related to the rental income in an incorporated company. Passive income or active income? The rental income is considered passive income in a company, unless they have 5 full-time employees. Another exception is the rental income largely generated by other...
Read moreMany customers are wondering whether interest on certain loans are deductible. Some people are also wondering how to maximize debt and interest deductibility. This article summarizes some key points. Interest Deductibility The basic principles regarding the deductibility of interest is the...
Read moreIf you plan to rent your property located in the United States, you must declare the rental income in a US tax return each year. You also need to file an income tax return in the state where the property is located, unless the state does not tax this type of income. You should also
Read moreThis article lists several tax aspects related property ownership in the United States. Although not exhaustive, this article covers most of the frequent questions. If you wish to discuss this article or have any questions that are not covered here, thank you to make an appointment for a...
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