Serbinski Accounting Firms

Thank you again for the reply. I have been advised that if I pay out dividends before departure, I will be subject to very high dividend tax (like 40% or so). Living in the US and taking out dividends is very costly for tax. The thinking is that if I post security now, and later sell say in 10 or 15...

JGCA are you an accountant who represents people in these matters? If so can I contact you?

So you are saying if I pay dividends, they will have to approve first ? Or is it only if I am behind in filing does it have to go through them.

Thanks for the reply. But why is it difficult to post security for shares on a CCPC? If there are a lot of retained earnings won't CRA accept that form of security?

Also....if there person is on a temporary work permit to the US, say valid for 5 years, are there special rules that are applicable. Is this person really in a "departing" situation given that his US visa is only temporary?

Thanks for the feedback. You can keep operating your Canadian corp but not as a CCPC and you won't therefore get the benefits. But since there is a tax treaty you will be eligible for tax credits in most cases. The importance of departing is that if you continue to build your wealth, anything accumu...

excuse my ignorance here but isn't posting security a way to defer tax so that it only becomes payable upon sale. Why therefore is there a rush to sell?

So I can't post secirty and defer tax

I have a Canadian professional corporation with retained earnings. Don't think lots of good will but have cash and stocks. Moved down to Florida with my wife and kids on a temporary work visa this year. I understand that there are two general approaches to take. 1. dividend out my company over the n...