Claiming income on a co-owned rental property
Marie, who owns two rental properties with her spouse, noticed that their tax preparer didn't allocate the income 50/50....
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Who pays the tax on dividends earned in a joint account?
Though tax reporting can be complicated, on this point the answer is simple—at least, from the Canada Revenue Agency’s...
“When should I claim the cost of renovations to my rental property?”
Whether to write off the cost of renovations annually, or upon the sale of the property, depends on how...
What is an EPSP, and how does it affect employees at tax time?
Corporations can choose to share a portion of profits with their employees by setting up a trust, called an...
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How are jointly held investment accounts taxed?
Joint ownership makes access to the investments easier by a surviving spouse, but requires diligent record-keeping while you’re both...
Should you add your grandkids as joint tenants on stocks?
Avoiding probate is one advantage.
Do teenagers need to file a tax return if they work part-time?
Like many milestones, this one can be used as a “teachable moment” for kids and parents.
How to calculate capital gains on the sale of an income property
If you’ve used your home as both a primary residence and a rental property, the calculation is a bit...
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8 year-long tax strategies to build wealth faster
Take a few simple (and fully legal!) steps to reduce your tax bill, and you’ll have more cash in...