Information provided below is generic in nature and may not apply to all the individuals, please contact us for more information:
Tax Tips – General
Tax Tips – If you are an employee:
Tax Tips – For business owners
- Ensure that the company qualifies as a qualified small business corporation
- Crystallize the capital gain now.
- Consider taking steps to have your spouse or children share in future appreciation to
use their $848,252 capital gains exemption.
- Determine whether you have a cumulative net investment loss (CNIL) amount which
will affect any capital gains exemption claim.
- Consider making election to retain your off-calendar year-end.
- If you are operating a successful unincorporated business, consider whether
incorporation of the business will provide additional commercial and tax benefits.
- Review whether you should incorporate your professional business, if allowed by your
Tax Tips – For students