Skip to main content

Featured

Sweet and Sour Chicken Recipe

  Crispy, tangy, and just the right amount of sweet—this sweet and sour chicken is a family favorite that’s easy to make at home. Ingredients For the Sauce: 1 cup pineapple juice ½ cup distilled white vinegar ½ cup sugar 3 tablespoons ketchup 2 tablespoons soy sauce ¼ teaspoon crushed red pepper flakes 1½ tablespoons cornstarch For the Chicken: ½ cup all-purpose flour ½ cup cornstarch 1 teaspoon baking powder ¼ teaspoon baking soda 1 heaping teaspoon salt ¼ teaspoon freshly ground black pepper ⅔ cup water 1½ tablespoons vegetable oil (plus more for cooking) 1 pound chicken tenderloins or boneless, skinless chicken breasts, trimmed and cut into 1-inch (2.5 cm) chunks For Finishing the Dish: 1 tablespoon vegetable oil 2 red bell peppers, cut into 1-inch (2.5 cm) pieces 1 small red onion, cut into 1-inch (2.5 cm) chunks Instructions Make the Sauce: In a medium saucepan over medium heat, whisk together pineapple juice, vinegar, sugar, ketchup, soy sauce, and red pepper flakes. Bring to...
Post a Comment
Read more

article

Labels

Navigating Inheritance Tax: Understanding and Planning for Your Legacy

 

Inheritance tax is a levy on the assets bequeathed by a deceased person to their heirs. While many countries have specific inheritance taxes, Canada does not impose such a tax. Instead, the Canadian Revenue Agency (CRA) treats the estate as having been sold at fair market value immediately before death, which may result in capital gains taxes that the estate must pay before distribution to beneficiaries.

Who Pays Inheritance Tax? In jurisdictions where inheritance tax exists, it is typically paid by the beneficiary who receives the assets. However, in Canada, beneficiaries do not pay taxes on received inheritances directly. Any taxes owed are usually settled by the estate of the deceased before the inheritance is distributed.

How to Avoid Inheritance Tax Since Canada does not have an inheritance tax, Canadian residents need not worry about avoiding it. However, it’s important to plan for potential capital gains taxes on the estate’s assets. Strategies such as designating a principal residence, planning withdrawals from retirement accounts, and setting up trusts can help minimize the tax burden on an estate.

Understanding the implications of inheritance and estate taxes is crucial for effective estate planning. By being informed and prepared, you can ensure that your legacy is passed on to your loved ones with minimal tax impact.

Labels:

Comments

Post a Comment