Your Cottage is a Tax Time Bomb
Every summer I talk about how your cottage is a tax time bomb. As you know, a family only has one principal residence, so if the cottage increases in value there will be tax to pay on the sale of the cottage or on the death of the owners of the cottage. I have reminded you in the past to get receipts for any work that you have done on the cottage and hold on to these receipts.
This year, what I am talking about is ...(Continue Article)