A Reputation Taxes - Part 1: Difference between revisions
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Latest revision as of 10:47, 23 October 2026
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As you read earlier, Canada's tax system is progressive signifies the more you earn, the higher the tax rate. Lowering your taxable income minimizes the amount of tax payable. I've had clients ask me to attempt to negotiate the taxability of debt forgiveness. Unfortunately, no lender (including the SBA) is actually able to do such a thing. Just like your employer is needed to send a W-2 to you every year, a lender is required to send 1099 forms everybody borrowers in which have debt pardoned.
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