Comments Off on Shaelene’s Tax Tip of the Week – April 22nd
If you plan on selling an asset at a profit, consider spreading that sale out over several years. You can spread a capital gains tax up to 5 years, as long as your payment plan persists for 5 years.
Comments Off on Shaelene’s Tax Tip of the Week – February 19th
Be aware of “superficial” loss, which happens when you dispose of capital property at a loss but then purchase it back less than 30 days later. This includes any property that creates any capital gain or loss such as an investment. The end result is not being able to claim the loss as a capital loss on your income tax.