Tax season hasn't arrived just yet, but that's all the more reason to consider personal tax preparation services now. It is always better to engage such services ahead of time rather than do it as part of the mad scramble when the April deadline starts looming overhead. Engaging a professional to perform your tax preparations can let you make it through such a frantic time without stress and with the confidence that you have paid your appropriate dues.
more
Monthly Archives: January 2016
Paul Babber & Associates Warns Against U.S Dividend Stocks in TFSA
Toronto, Canada, January 11, 2016 – Paul Babber & Associates (www. pbaltd.ca), a premier accounting and tax consultation firm in the Greater Toronto Area (GTA), is warning Canadians to be cautious about one part of their Tax-Free Savings Accounts (TFSA) that is not entirely tax-free. The costs arise when Canadian investors attempt to diversify their TFSA by incorporating dividend stocks from the United States. (Source: Jackson, D., “The TFSA isn’t always tax free,” Business News Network, December 21, 2015; https://www.bnn.ca/News/2015/12/21/The-TFSA-isnt-always-tax-free.aspx.)
"The IRS [Internal Revenue Service] takes 30% of any U.S dividends," explains Paul Babber, the CEO and president of Paul Babber & Associates. "This happens regardless of whether the investor is...
more