What is Deemed Disposition? Deemed disposition” refers to a tax concept where an individual or entity is considered to have disposed of an asset for tax purposes, even though the asset may not have been sold or transferred. This can trigger tax consequences, such as capital gains or losses, depending on the situations. It’s crucial […]

Starting 2024, the rules for the short-term rentals have changed and are going to impact taxability on the rental income earned from properties. Any dwelling unit which is rented for less than 28 consecutive days is termed as short-term rental. The government has come up with a provision to curb the shortage of housing as […]