Tax Tip#10 Tax relief
10. Failure to recognize allowable business investment losses (ABIL). Under special circumstances, taxpayers who’ve invested in a small business corporation that has become insolvent or otherwise gone bad may be eligible for tax relief in the form of an ABIL.
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About
John McCormack CGA CFP
taxes *returns *corporate
John McCormack CGA CFP earned his Bachelor of Administrative Studies degree at York University in 1991. He received the Certified General Accountant (CGA) designation in 1999 and the Certified Financial Planner (CFP) designation in 2001.
John has almost 20 years experience in the accounting and tax field. He has been self employed full-time in public practice since 1999.
Mississauga Accountant
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