Business
Alex Bainov

U.S. Transition Tax

NEW BURDEN FOR CANADIANS WITH U.S. CITIZENSHIP There are many reasons as to why a person may want to maintain dual citizenship with another country. It may be to allow for easier travel, or ability to work without acquiring a special visa, or ability to stay in the country for an extended duration for family reasons. Whatever the reason, the latest tax changes in the U.S. may once again force some to reconsider maintaining the U.S. citizenship. Taxation based on citizenship   U.S. is one of the countries that bases its taxation on citizenship instead of residency. Consequently, a person

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Business
Alex Bainov

Real costs of DIY incorporation of your business

REAL COSTS OF DYI INCORPORATION OF YOUR BUSINESS You have decided to start a business and are considering creating a corporation for your business. Here is a typical story on how many people approach this subject… Meet our story character – Sam Sam graduated with a computer science degree and pursued a job as a programmer. After a few years, he decided to pursue the opportunity of being a business owner. For liability protection, Sam decided that creating a corporation would be a prudent decision. Potential initial costs of incorporation Sam contacted a lawyer to inquire regarding incorporation of his

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