Business

Do you plan on selling your principal residence?

As long as it has been your principal residence for every year that you have owned the property, you will not have to pay any tax on any gain from the sale. If it was not your principal residence at any time you have owned the property, or only part of the property is considered your principal residence, you will have to pay part of the tax on the capital gain. This corresponds to the years it wasn’t your principal residence or the square feet that were not included as part of the principal residence.

Are you a student? Do you know a student?

Remember – the T2202A; the credits received from the eligible tuition and education amounts, last indefinitely. They can always be carried forward to the next tax term if you don’t feel the need to use them.

There comes a point in the life of any business where it must change.  This change does not have to be a radical re-invention of the business or complete overhaul of the services the business provides, but rather a slow, organic, ever-evolving process where the business continually seeks to answer a very important question:

“How can we efficiently provide the most value to our client base?”

For example, at Books In Line, one of our goals as a business is to remain modern, but not out of touch. We also want to remain personal enough with our clients so that they feel all their input, concerns, or requests are being constructively heard.  We feel a blog is not only an excellent way to satisfy this but also a fantastic way to network with future clients and forge stronger bonds with all our current ones. We feel that to be the best, we need to regularly interact with the best – and that means all of you.

We have blogs planned out for the future on subjects around the numbers – your HST, your tax credits, and your expenses.  We also have more personal blogs planned around success stories, events we have attended, and why we got into this line of business in the first place.  Of course, what we would really like is to blog about anything our valued clients feel is important.  If you have any subjects you feel are interesting and would like us to explore, questions you would like cleared up, or even feel like taking the time to leave a comment on one of our blogs, we are always going highly value your input.

Thank you for reading and thank you for your business.