image

Filing tax return in Canada – Non-Residents

The obligation for filing your taxes in Canada is primarily based upon an individual’s residency status. The tax obligations of a non-resident however differ from those of a resident. Filing tax return in Canada - Non-Residents The obligation for filing…
image

Raising funds through SAFE Note

SAFE (or simple agreement for future equity) notes are documents those start-ups often use to raise seed capital. Essentially, a SAFE note acts as a legally binding promise to allow an investor to purchase a specified number of shares for…
image

Compliances for Corporations in Delaware, USA

A Registered Agent acts as the liaison between the company and the state in which it is incorporated. Registered Agents are responsible for receiving and forwarding service of process and correspondence such as franchise tax notices, from the state in which…
image

US Tax Free Spin–Off Transactions

Corporate restructuring in US is a common occurrence which involves selling business of the company or simply reorganizing the management structure. Such restructuring decisions often lead to tax consequences. A spinoff, one of the ways for corporate restructuring in US,…
image

Incentive Stock Options – US Tax Implications

US Companies issue various forms of equity compensation including restricted stock units (RSUs), incentive stock options (ISOs) and non-qualified options (NQOs). For early and growth stage companies, ISOs are the most common form of equity compensation.Incentive stock options (ISOs) gives…
image

US Tax Implications on Crypto-Currency Transaction

Cryptocurrency is a network-based currency with the ability to be traded digitally without being tracked thanks to blockchain technology. Bitcoins are currently one of the most well-known types of cryptocurrencies. Dogecoin, Ethereum, Litecoin, IOTA, NEO, Monero, Ripple, Steam, and others…
image

Checklist of Key Tax Changes for Individuals and Businesses in the US

Before you start preparing your taxes, go through our checklist. We have compiled a list of changes to various tax rules, for both individuals and businesses. Here is everything you need to know to before you file your taxes for…
image

Revocable Trust vs Irrevocable Trust in the US

A trust could be the best option for individuals to transfer assets either or during their lifetime or after their passing. A trust is a separate legal entity created to hold certain assets, managed by the trustee. Families tend to…
image

Tax Consideration while Setting-Up LLC or C-Corp in the US

Selecting an entity to start a business sometimes seems inconsequential but it is necessary to choose between one of two feasible options - LLC or C–Corp. It is a crucial decision, as it impacts everything - right from raising the…
image

The Benefits and Implication of Stock Sale vs Asset Sale in the US

Stock Sale is defined as the purchase of the owner's shares of a corporation, while the purchase of individual liabilities and assets can be defined as an asset sale. Depicting a business sale as a stock sale or as an…
image

Stock Options by US Corporation | Deferred Consideration | 409A

409A applies to anyone subject to U.S. federal income taxation who receives non-qualified deferred compensation, including: US tax residents Non-residents who earn US source compensation 409A involves the taxation of deferred compensation such as stock options and stock appreciation rights.…
image

Tax Implications of Selling a Home in the US

You may owe capital gains tax and net investment income tax (NIIT) if you’re selling your home, or you sold a house in 2021.Gain Exclusion:If you’re selling your primary residence, you may be exempted from tax of up to $250,000…
image

Taxability of payment done for Online Marketing & Advertising Services availed in the US

For business today, online advertising on websites and search engines has become an integral marketing tool yet, the debate on the ability to tax these transactions are underway. A decision hasn’t been made yet as ads are taxable under ‘Royalty’…
image

“Non-US person” may end-up paying US Tax on Worldwide Income and providing US Tax Reporting

New policies recently rendered state, non-US citizens turn taxpayers depending on the time they have lived in the US. It is observed that this taxation in borne by non-US citizens visiting family in the states and staying for a few…
image

Some moves to lower your 2021 US Federal Tax liability

With the 2021 year ending, one needs to consider making some moves that will lower your 2021 US Federal Tax liability. Here are a few tips one may consider:Accelerating mortgage payment in 2021 which is due in January 2022 will…
image

Everything You Need to Know About Bookkeeping in US

What is bookkeeping? Booking keeping is the process that ensures that  your business has systematic and accurate records of financial activity. As a business owner, your finances are a top priority and your process of bookkeeping too. Let us understand…