Thank you for reply. I can provide the documents you required by the weekend. I have two questions:
1) To my understanding, under the new circumstance between US and Canada, for the interest of the shareholder loan, if it is paid to a Canadian corporation, the interest revenue of this corporation (an expense to Ricom) will be double taxed by IRS and CRA; if it is paid to a Canadian individual, the interest revenue (expense to Ricom) will be taxed by IRS, but the tax paid to IRS can be deducted by CRA. Is this correct?
In 2018, Howard suggested me to setup a corporation in Canada, which is established after Ricom registration; now it becomes a bad idea because the corporation will be double taxed. So I try to collect interest on my personal name. One problem was that I wired money from my personal account to the Canadian corporation and then the corporation wired it to Ricom. Since my personal name is the member of Ricom instead of corporation, I can still charge the interest on my personal loan by ignoring the Canadian corporation as a middle vehicle. Is it alright?
2) What is the boundary for the rehab and the repair expenses? Is there a certain bar beyond which the amount should be considered expenditure? I guess the expense is better, to be deducted right away. Any suggestion for the tax planning?