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 BDO. This blog is meant for everyone, but in particular for high net worth individuals and owners of private corporations. My posts are blunt, opinionated and even have a twist of humour/sarcasm. You've been warned. Please note the blog posts are time sensitive and subject to changes in legislation or law.

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