My name is Mark Goodfield. Welcome to The Blunt Bean Counter ™, a blog that shares my thoughts on income taxes, finance and the psychology of money. I am a Chartered Professional Accountant and a partner with a National Accounting Firm in Toronto. This blog is meant for everyone, but in particular for high net worth individuals and owners of private corporations. The views and opinions expressed in this blog are written solely in my personal capacity and cannot be attributed to the accounting firm with which I am affiliated. My posts are blunt, opinionated and even have a twist of humor/sarcasm. You've been warned.

Tuesday, April 19, 2011

Transferring the Family Cottage-There is no Panacea-Part 3

In the final blog of my guest three blog series for the Canadian Capitalist; I discuss some of the alternative strategies available to mitigate or defer income taxes that may arise upon the transfer of the cottage to your children.

Tomorrow, I return to the regular scheduled programming, with Confessions of a Tax Accountant-Week 8.

The blogs posted on The Blunt Bean Counter provide information of a general nature. These posts should not be considered specific advice; as each reader's personal financial situation is unique and fact specific. Please contact a professional advisor prior to implementing or acting upon any of the information contained in one of the blogs.

2 comments:

  1. ?
    I have a question and was hoping to find the answer here .
    I'm living in my parents home ( not the primary residence ) .
    Is it better to purchase the home now or wait to inherit it ?

    ReplyDelete
    Replies
    1. Hi Anon

      I would need way more facts than provided, however, i do not provide answers to personal tax planning issues on this blog. Sorry.

      Delete