Kestenberg Rabinowicz Partners LLP saying goodbye to one of its Iongest-serving and most highly respected partners. Harris Kligman, who was brought on board to build and grow our tax department, has formally announced his retirement from KRP after an illustrious 25-year career. Harris has worked with organizations ranging from sole proprietorships to major corporations during […]
It’s a bittersweet moment here at Kestenberg Rabinowicz Partners LLP as we wish a happy and prosperous retirement to one of our longest-serving partners. Vazken Izakel, our friend and colleague who began his career at KRP in 1989, has officially retired from active service with the firm. He will continue managing several key projects in […]
The stream of fraudulent ‘Canada Revenue Agency’ (CRA) calls continues. After notifying entrepreneurs just last year about a spate of bogus phone solicitations and threats from callers purporting to be CRA representatives, it’s clear that the fraudsters are up to their old tricks again. Last week one of our clients received a call claiming to […]
If there’s one goal shared by all investors, it’s the obvious desire for a substantial return on any investment they make. For entrepreneurs, investors are a lifeline of both funding and in some cases even insights and support (be it direct or indirect) in the drive to make their organizations a success. Many business owners […]
Key themes from the 2016 federal budget: Economic growth, job creation and a strong middle class When the new government said last year that it would return Canada to deficits, few expected the numbers to jump to nearly $30 billion this year and next, adding $100 billion in debt over the next five years. But […]
On February 25, 2016 Finance Minister Charles Sousa tabled his fourth Budget. The deficit for the 2015-16 fiscal year is projected to be $5.7 billion, which is $2.8 billion less than forecasted in the 2015 Budget. The deficit is projected to drop to $4.3 billion for 2016-17 and to be eliminated by 2017-18. Furthermore, […]
On December 24, 2015, Finance Minister Bill Morneau announced that, subject to two changes, the income tax deduction limits and expense benefit rates that applied in 2015 when using an automobile for business purposes will also apply in 2016. The two changes for 2016 are: The limit on the deduction of tax-exempt allowances paid by […]
On December 18, 2015, the U.S. Congress passed the Protecting Americans from Tax Hikes Act of 2015 (“PATH Act”). President Obama has since signed the PATH Act so it is now enacted law. The PATH Act contains significant reform measures for the rules governing Real Estate Investment Trusts (“REITs”) and non-U.S. investors in U.S. real […]
Effective January 1, 2016 there will be significant changes to the taxation of trusts and estates, including alter ego, joint spousal / common-law partner and spousal / common-law partner trusts. There has been significant uncertainty in the tax community as a result of the impending legislation. Specifically, the new subsection 104(13.4) of the Federal Income […]
Obtaining the right accounting and tax planning advice is critical for every business owner. That requires a strategic approach that takes both their personal and professional finances into account, while also incorporating long-term goals into any financial plan. At least that’s a best practice we reinforce here at KRP. But in some cases, we take […]
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