We’ve all got pet peeves, you know those little things that drive you crazy in life. I have a few. Lately I started thinking about some of my financial pet peeves. These are my top three. 1. Sales tax on used items When someone buys a new car they pay sales tax on it. It…

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Mark emailed me with an interesting scenario in building a house for his parents and renting it out to them.  It’s not that his parents can’t afford to build their own, Mike is simply wondering about the benefits and pitfalls of such an arrangement.  Here are more details: My parents are thinking of selling their…

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With Nortel becoming delisted, there are thousands of investors out there still holding the delisted stock.  So what happens next?  How do you claim the capital loss? As I’m not a tax expert, I contacted Tax Guy to help me out with that question.  Here is what he came back with. If you own shares…

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