Tax Implications of Renting Part of Your Calgary Home for Additional Income
Tax Implications of Renting Part of Your Calgary Home for Additional Income Understanding the Basics of Principal Residence Exemption The principal residence exemption is a cornerstone of Canadian tax law, allowing homeowners to sell their primary residence without incurring capital gains tax. However, when you rent out a portion of your home, it can impact […]
What Makes Tax Planning Important
What Makes Tax Planning Important Tax planning is not just an annual task for filing returns; it is an essential strategy that can significantly influence the financial health of professionals and business owners alike. For small business owners, such as pharmacists, contractors, and restaurateurs, effective tax planning goes beyond compliance—it becomes a critical tool for […]