Troubled Spouse – Part II
The last blog discussed how to establish innocent spouse relief on a joint tax debt, due to action by a “devious spouse”. There is also another form of relief for the “honest spouse”, its called an injured spouse. An…
The Troubled Spouse
During 2014, one has been married a certain number years, but now the marriage is now on the ropes and causing a very confrontational relationship, due to the fact one spouse discovered in a previous joint tax year (or during…
The Business Loss
In the last blog, we were discussing the capital loss and the limitations on claiming such a loss. However, what happens if the loss was not due to the sale of a capital asset, but due to operating a business, or…
The Loss
Picking from what was discussed in the last blog, that when someone sells a property and/or an asset, there could be a gain on the sale, where one would pay taxes on (not on the selling price), and gain is…
Investment property taxes
So, during 2014 you sold some real estate, be it a primary residence, a rental, or even an investment property, and of course there shall be tax consequences on the selling of real estate. What one has to be mindful about,…
