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What’s Your Tax Issue?
The Tax Issue: I loaned some money to my son’s company and now he can’t pay me back. Is there a tax deduction I can claim? The Answer: Unfortunately, I get this question quite frequently after it’s...
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Deducting Business Losses? Make Sure You’re In Business!
It is said that everyone has at least one great song inside of them. Thinking of going into the music business? Got that CD in the works? Got a few good songs to record? Those costs can add up. Studio...
View ArticleEarl Jones Victims Get A Raw Deal From CRA
The latest news that the victims of Earl Jones are now about to suffer even further at the hands of the CRA comes as no surprise to me. Back in August, in the very first issue of The Tax Issue, I...
View ArticleA No-Lose Situation
In today’s environment, the transfer of a stock portfolio as part of a corporate reorganization or an attempt to realize losses must be handled carefully to ensure that accrued capital losses don’t...
View ArticleTax Court Rules On Ponzi Scheme Victims
The Tax Court of Canada has recently confirmed the tax treatment of Ponzi scheme victims as I feared they would in the very first issue of The Tax Issue. In a Ponzi scheme, taxpayers unwittingly...
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