Property is where personal tax gets expensive if it is handled casually. There are many elections, rollovers and designations available, and choosing correctly is often the difference between a reasonable result and double taxation.
The principal residence exemption in particular needs to be addressed properly at the time a property is sold — not discovered afterwards.
What we typically handle
- Applying the elections, rollovers and designations that help you avoid double taxation
- Addressing the principal residence exemption properly when a principal residence is sold
- Reporting property income and dispositions on your personal return
- Making sure you receive the credits, benefits and deductions you are entitled to
