KeatsConnelly Cross-Border Weekly Best of the Web 2013-10-11

web-search-greyEvery week we share news stories, blog articles and other interesting stuff from around the web that received the most views, shares, comments and overall interest on various KeatsConnelly social media outlets. This week we offer a mix of articles discussing Revenue Canada, the US Federal Reserve and Canada’s skills shortage…

Where Revenue Canada Finds Money (http://fromyouradvisor.ca)  If you ever get audited, here’s where you can expect Revenue Canada to check in search of unreported income. Repairs or renovations. If your company owns real estate, make sure you don’t claim capital improvements as repairs that can be deducted. Jonathan Garbutt, a tax lawyer, says Revenue Canada will home in on cash-intensive businesses that buy, renovate, and sell buildings because unreported cash income can be used to pay contractors under the table. “Revenue Canada knows this scam and is looking at families with cash businesses and also property flips where there have been big cap gains in an unduly short time,” he explains..

Canada Constrained Till Yellen Moves (www.advisor.ca) As chair of the U.S. Federal Reserve, Janet Yellen wouldn’t change the central bank’s agenda on quantitative easing, jobs or inflation, says BMO senior economist Sal Guatieri.“It’s business as usual,” he says. This afternoon, President Barack Obama officially said he’s nominating Yellen to become the chair. If approved by the Senate, she would be the 15th chair of the Fed and the first woman in the role. It’s expected interest rates won’t initially change under Yellen, Guatieri predicts, and absent significant inflation the Fed’s unlikely to raise rates until the latter half of 2015. This has implications north of the border…

Solving Canada’s Skills Shortage – With Americans (www.theglobeandmail.com) Here’s a nifty way to get the right workers into Canada and help the U.S. unemployment situation at the same time: Encourage Americans to head north and fill skilled positions on this side of the border. That’s the recommendation of a new report from the Conference Board of Canada that makes some interesting points while coming to what some may consider a controversial conclusion…

Come back next week for more interesting news and articles. Enjoy your weekend!

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