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November 2020

Citrin Cooperman Expands Bicoastal Footprint

Citrin Cooperman has expanded their footprint on both coasts, adding new partners and professionals in their Encino and DC Metro teams.

Personal Real Estate Corporations ("PRECs")

Regulations associated with the Trust in Real Estate Services Act (TRESA) went into effect October 1, creating changes for real estate agents in Ontario, including the ability to incorporate a Personal Real Estate Corporation (PREC).

Taxation of CEBA and CECRA

The Canadian Emergency Business Account (CEBA) and Canada Emergency Commercial Rent Assistance (CECRA) are both loan programs initiated to assist with COVID-19 relief, but each have their own unique tax implications. 

Employee Home Office Expenses

As more employees work from home, they may be able to claim a home office dedcution in calculating their 2020 personal taxes. Learn more about the necessary criteria for determining employee deductions.