We often get asked by our clients whether they can gift property to their children – and if so, whether there are any tax considerations. The answer is not always what people expect to hear. Transactions at Fair Market Value If capital property (for example real estate or investments) is given as a gift,…

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Introduction: In the small owner-managed business environment, the question of compensation is a recurring theme that often leaves entrepreneurs pondering the best compensation strategy. Clients frequently approach us with questions like, “How should I pay myself?” or “How should I compensate my employees?” While a conventional response might consider the tax aspects of dividends versus…

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In recent months, the Federal and British Columbia governments have introduced legislative measures to discourage short-term rentals as part of broader attempts to free up units for long-term housing. Some of these measures may impact short-term rental unit owners from multiple perspectives. Potential impacts include income tax, GST, filing requirements, and other administrative compliance. Federal…

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Pinnacle guarantees to deliver your completed corporate yearend financial statements and tax return within 21 working days of receiving your documents. Why do we do this and how do we do it? Why Do We Do It? From the client’s perspective, studies show you appreciate quick turnaround of your work. As a business owner, you rely…

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Pinnacle PAC knows that leaders are readers. The Pinnacle Team endeavors to constantly nurture our minds, expand and enhance our services, and remain thought and practice leaders in the accounting industry. We have assembled an ever-growing list of books that we feel are worthy of your time and attention. 1. The Emyth Revisited – by…

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