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Blogs posted during December 2017

What Happens to the Tax Debt of Bankrupt Corporations?

Directors’ Liability for Tax Debt In general, it’s assumed that the tax debt of a person or a corporation is wholly the responsibility of that individual or corporation. It stands to be considered then that the tax debt of a person or corporation would be eliminated if the person or…

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What Do I Do If I’ve Made a Mistake on My Taxes?

Correcting Mistakes on Tax Returns Filing your income tax returns can be complicated. There is a lot of different financial data and there are various ways to input the data. With all of these numbers and classes and details, it’s easy to make a mistake. Many people worry when they…

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New Filing Requirements for the Principal Residence Exemption

Reporting Rules for the Principal Residence Exemption Have Changed In Canada, if a property is your principal residence for every year that you owned it, you do not have to pay capital gains tax when you sell the property. In the past, you were not even required to report the…

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Subcontractors Can Sometimes be Employees

The Difference Between Subcontractors and Employees In today’s “gig economy” more and more people are working on a freelance or contract basis. Employers typically like to hire independent contractors for flexibility and because the employer doesn’t have to provide benefits, pensions, or withhold a portion of the money paid for…

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