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How to Get A Tax Deduction For Your Dry Cleaning

Feb 25 2013
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Most people know the IRS generally doesn’t let you take a tax deduction for dry cleaning your clothes. But if you are lucky enough to travel frequently on business, then the IRS gives you an opportunity to claim a tax deduction for dry cleaning as a travel expense. Case in
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Why US Taxpayers Should Avoid Holding Canadian Mutual Funds

Feb 20 2013
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A client of mine recently made the move from Canada to sunny Los Angeles. When I asked him if he left anything behind in Canada, he answered “just the snow”. Well, as it turns out, my client didn’t just leave the snow behind. He also left his Canadian brokerage
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US Tax on Your Canadian Investments

Feb 18 2013
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Canadian residents who emigrate from Canada are generally deemed to have disposed of their capital property equal to the fair market value on the date of emigration, with any resulting gain or loss subject to Canadian tax (“Departure Tax”). For Canadians emigrating to
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Get A Big Tax Write Off Playing Golf

Feb 14 2013
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The March 2, 2013 Celebrity Golf Classic event hosted by the Canada-California Business Council (CCBC) to benefit the March of Dimes Canada and ProCon.org will not only benefit two great charities but also counts as a 100% entertainment tax write off for golfers and spectators.
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New Simplified Home Office Deduction

Feb 12 2013
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The IRS has recently announced a simplified option that many owners of home-based businesses and some home-based workers may use to figure their deductions for the business use of their homes. Beginning with returns for 2013, which will be filed in 2014, taxpayers can write-off
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Need an ITIN?

Feb 11 2013
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With the new Individual Taxpayer Identification Number (ITIN) processing rules issued by the IRS in 2012, getting an ITIN will now require you to submit a copy of your Canadian passport certified by the Canadian government. If you cant make it to a Passport Canada office, then
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Strategies For Collecting Social Security Benefits

Feb 09 2013
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Social Security is designed to be a guaranteed, lifetime income source that you have been contributing to your entire working life. Most people are unaware of how Social Security retirement benefits work and what options they have for redeeming their benefits. Part of the reason
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$3,000 CA New Jobs Credit Available For 2012

Feb 05 2013
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How would you like a tax credit of up to $3,000 for each new employee you hired in 2012? Even better, how would you like this credit if the only employee you hired was yourself? Well, thanks to the State of California, a credit of $3,000 for every new full-time employee –
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Sale of Canadian Home by an American

Feb 05 2013
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We recently received a call from a U.S. citizen married to a Canadian citizen. The couple lives in Canada and owns a home in Toronto together. Recently, the couple sold their Canadian home, which has been their primary residence for the last 11 years. The couple had purchased the
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Let Your Business Pay For Your Child’s College Nest Egg

Jan 30 2013
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Wouldn’t it be nice if your business can take a tax deduction for funding your child’s college education? Well, if your child is older than 6 years old, then this article will show you how Uncle Sam can help subsidize junior’s college education. Moreover,
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