Tuesday, 15 January 2013

Tax Losses in the Attic

Many individuals are not aware that monies they loaned to corporations that never made it could be deductible from the capital gains they may realize in the future or capital gains they had realized three years before the corporation became insolvent. A lot of people may not realize capital gains and therefore fail to utilize those losses.  But, they should be made aware that under certain circumstances 50% of such loans could be deducted from other income, such as employment or investment income. 

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