TTT: Principal Residences
Heather Pointer2021-08-10T21:21:57-04:00Selling your home, or own multiple? Learn how to take advantage of the Principal Residence Exemption effectively and without accidentally owing the CRA a bunch of money!
Selling your home, or own multiple? Learn how to take advantage of the Principal Residence Exemption effectively and without accidentally owing the CRA a bunch of money!
Disability Tax Credits have changed again! There are lots of people who qualify, and they can be transferred to family members! Additionally, there are loads of grants and benefits available. Do you or a family member qualify? Find out here!
Real Estate Agents can FINALLY incorporate! It's been a long battle, but the lobbyists finally got what they were looking for. It's not the right solution for everyone, but incorporating your real estate business into a PREC could save you hundreds of thousands of dollars!
Are you a real estate agent? Are you getting all the tax deductions you should be? It's a difficult topic, and it can be challenging to navigate. HST alone can cause headaches! Get the solutions for them here.
Staring down the barrel of a separation agreement and confused about the tax implications? I can't blame you. People spend thousands on lawyers, but never consult the accountants! There is a way to make sure you both get tax benefits out of this, and it only requires a little cooperation.
Staring down the barrel of a separation agreement and confused about the tax implications? I can't blame you. People spend thousands on lawyers, but never consult the accountants! There is a way to make sure you both get tax benefits out of this, and it only requires a little cooperation.
Separation is never easy. Lawyers are expensive, custody is difficult and tense, and life is changing in a big way. You have a lot on your plate! There's no need to make your taxes any more complicated than they already are. Learn how to keep this part of the separation easy.
Getting audited sounds scary, right? Don't let the fear get to you. All it really means is that the CRA wants you to submit documentation to support whatever claims you made on your taxes. It can definitely be a pain, but don't let it scare you.
There are lots of options to explore if you find yourself owing the CRA some money. It's a sticky situation for sure! Definitely not one you want to be in. But there are solutions available for you, and you would be doing yourself a disservice not to look into them.
Owe the CRA some money for taxes! Don't ignore it! Many people pretend their tax bill doesn't exist and that it will disappear, but it will not. The CRA will come after you! Learn how to manage remittances, interest deferrals, collections, and instalments.