Posts belonging to Category tax

BEWARE OF TAX RETURNS PENDING DIVORCE

A recently divorced lady told me she had filed a joint tax return during her marriage to her husband. Two years later she received a notice from the IRS that her spouse had failed to report a bonus, and they were both being assessed taxes on the deficiency.  Persons entering a troubled time in their [...]

HST IS COMING JULY 1, 2010

The harmonized sales tax will combine the eight percent provincial sales tax with the five percent federal goods and services tax(GST) to create a single 13 percent harmonized sales tax (HST). The Ontario HST is scheduled to take effect July 1, 2010. The following items in real estate will be subject to HST: Commissions, legal fees, inspections [...]

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