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Who Needs To File A T2091 and When?

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This form is used by taxpayers to designate a real property as a principal residence by an individual. The principal residence exemption applies to each year that a property is designated as the principal residence and no other property is so designated. The filing of this form has become more important now that the CRA requires individuals to report the sale of principal residences. T2091 needs to be filed when the principal residence exemption does not fully eliminate the gain on the sale and needs to be filed with the taxpayer’s return for the year the property is disposed of.

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ACCESSING THE SMALL BUSINESS DEDUCTION IN YOUR BUSINESS

The Small Business Deduction gives businesses a tax deduction on the first $500,000 of income. This saves an eligible corporation around up to $50,000 in income taxes. There are a number of conditions that have to be met to be eligible for this deduction.

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Faris CPA | Toronto Tax Accountant
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Don Stephan
Dealing with CRA is stressful. Sam took care of me from day one and accommodated my unique needs without hesitation. 5 stars for being professional and a good human.
Response from the owner:Thank you Don for the five stars Google review. We are glad that we met your expectations and your case is closed now. Happy to answer any questions in the future and we will address all queries CRA may have regarding our work. Sam Faris
Dan Dimacuha
Sam was very responsive and prompt. Exceptional customer service as well!
Response from the owner:Dan Thank you for your positive 5 stars review and the kind words. We strive to provide best customer service as we are aware that all cases that we take on are time sensitive and require a higher quality of work in order to be successful with the CRA. Your cooperation and prompt reply to our questions was important in getting everything in order and submitting the package on timely basis. We will remain at your disposal anytime you need our services in the future. Sam Faris
Ángel Holgado
Best service. Very impressive and happy with all work Sam has done for me.
Response from the owner:My pleasure Angel and thanks for the 5 stars Google review and your kind words. We are glad that you are happy with our services and the results we got you. Please feel free to contact us in the future for any questions that you may have regarding your file. Best Sam Faris
Dasha Smyth
Great experience with Sam!
Response from the owner:Hello Dasha Thank you for the five stars review and your kind words. It was a pleasure working with you and I am glad that we met your expectations. Please feel free to reach out to us if you need to in the future. Many thanks Sam Faris
Mohamed Younes DEBBAGH
I was so impressed with Sam's professionalism and how quickly he reacted to my inquiries. His knowledge was evident, and he handled everything expertly. I highly recommend his services.
Response from the owner:Mohamed Thank you for the 5 stars Google review and your kind words. Our goal is always to make the process efficient and the workflow as smooth as possible. We are glad that we met your expectations and we will remain at your disposal at anyone in the future. Sam Faris
D D
Thank you for all your help! Quick and stress free! Definitely recommended!
Response from the owner:Thank you DD for the 5 star positive review. We were happy to work on your file and get you positive results. We will remain at your disposal in the future if needed. Thanks Sam Faris
Fernanda Rivera
Sam and his team helped me to file my multiple outstanding personal and corporate tax returns. He was able to save me from legal action by the CRA, saved me taxes and CRA waived the penalties for me. I highly recommend his services for any tax help and CRA audit needs.
Response from the owner:Ms. Rivera Your 5 stars Google review is very much appreciated. I am glad that we met your expectations and you are happy with our work quality and the outcome achieved. We are specialized in filling multiple years of outstanding personal and corporate tax returns. We have helped many clients for more than 15 years to file all their outstanding tax returns in the most efficient way. We were able to get them out of troubles with the CRA, save them taxes, waiving penalties and get them interest relief. We take a pride of what we do and our team is fully dedicated and experienced to deal with any type of dispute with the CRA. We are at your disposal anytime you need us in the future. Sam Faris
Andrea Colantoni
Faris CPA took care of my tax audit case by the CRA. The team performed the work on timely basis and in the most efficient way possible. End results are beyond expectations. Hire Faris CPA and they will do the required work with reasonable fee.
Response from the owner:Many thanks Andrea for your positive review and I am glad that you are happy with our services. Our firm is specialized in all kind of tax disputes with the CRA including tax audits. All our staff are CPAs who have many years of experience in fighting the CRA. Thanks again and please feel free to reach out to us in the future if needed. Sam Faris
Fadwa Layous
I found Sam online and I decided to have a consultation with him to discuss my CRA audit. I got a very good feeling about him, his integrity and his tax knowledge and skills and I had no doubts that he would be the best fit to provide audit help and support. I decided to hire him to handle my case. His approach to my case was consistent to the advice that he gave me at the conclusion. Sam was able to prepare working papers and supporting documents to show the auditor why his numbers are overstated. Sam had to involve the team leader and insisted to meet with him as the auditor refused to adjust his numbers. Sam confidently presented his work to the team leader and the team leader accepted his numbers without any adjustments. Sam deserves 10 stars for all what he has done in my CRA audit case and all his support and help.
Response from the owner:Thank you for the 5 stars review and your kind words. I am glad that we met your expectations. Please feel free to reach out to us if you require further help in the future.

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Get your CRA tax issues solved
844-340-5771 OR Schedule Assessment