Taxable income

Forbes  Mar 6  Comment 
If you owe somebody money and then you don't have to pay it back that can create taxable income for you.  It is called either income from the discharge of indebtedness or cancellation of debt (COD).  The rules about when you can exclude COD from...
Motley Fool  Jan 6  Comment 
Your tax rate probably isn't what you're assuming it is.
Forbes  Dec 3  Comment 
When your uncle loans you $10,000 to tide you over, is it taxable income? Nope. What about when the bank loans you $100,000? No again. That’s provided it’s a real loan and not income. That’s a key distinction that lands lots of taxpayers...  Oct 9  Comment 
The CRA's comments released this week clarified a grey area for entrepreneurs, and is a stance which makes it more expensive to crowdfund a project
Forbes  May 28  Comment 
Raising a son ain’t easy. If you want your little boy to grow into a man you can be proud of, you can’t always be his best friend. Sometimes you have to be stern. Sometimes you have to say no. And yes, sometimes, you have to break your...
Sydney Morning Herald  Mar 15  Comment 
Nathan Tinkler draws money from a $1.4 billion trust held in the name of his wife, a court has heard.
Forbes  Dec 19  Comment 
The small business owner was iconic during this last election cycle. The rage all started four years ago with Joe the Plumber, and the candidates in this last run have since elevated the small business owner to near sainthood.  With this lofty...
The Hindu Business Line  Dec 2  Comment 
The real benefit of Tax Accounting Standards will accrue only if its principles are correctly interpreted and applied by tax and judicial authorities at the field level.
Forbes  Nov 2  Comment 
A quick PSA: If you will be attending the CCH User Conference next week in San Diego, stop by and say hello. I will be teaching "Tax Implications of Foreclosures, Deeds-In-Lieu of Foreclosure, and Short Sales" on Monday and Tuesday.

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