Avoid Tax Problems When Selling Your Home
By: Jim Stathakos CPA and Besse Vergados BA (Honours) Thinking of selling your home or gifting it to your children? Here are key points to help you avoid unexpected income tax. If your home qualifies for the principal residence exemption, you do not pay income tax on the gain when you sell or transfer it […]
To Incorporate or Not to Incorporate
By: Jim Stathakos CPA and Besse Vergados BA (Honours) Are you thinking about starting a new business? Let us explore the income tax advantages of incorporating a new business versus operating it as a sole proprietor or partnership. Tax advantages of incorporating a business: Incorporation allows the business income earned in Canada to be taxed […]