Update - Our office is open for public and we doing personal taxes in Person
When it comes to year-end tax, there are many different tricks and tips an owner of a small business can follow in order to save. Throughout the contents of this blog, I will be telling you five different strategies to follow in order to save money at year-end tax. The first strategy is known as
a. You can claim 5 years donation in one short b. You can get up to 46% donation back in CRA Tax refund c. Your Must Show Tax deductible receipts to CRA d. If your tax receipts does not show RR0001 you can’t use this receipts e. If you donation to US charity you can
In Canada you are subject to 5 different kinds of Tax Audits or reviews 1. Charitable donation review 2. Medical expense review 3. Children physical activities and art activity expense review 4. T2202 review 5. T777 employment expenses review 6. Property Tax review or Rent paid in Ontario review 7. Auto Expenses review 8. T2125 Expenses
1. When you buy RRSP your Canada Child tax benefits increases to along with increase of refund 2. If you buy RRSP today and after 3 Years you file bankruptcy your RRSP balance is safe no body can touch it 3. Your should wait to buy RRSP until time you sell house and get big
1. Make sure you have all T slips with you T4 T5 T3 T5007 T4A T2202 T2200 etc. 2. Make sure you have all Donations slip, Medical expenses, Children Daycare receipts, Rental receipts from a landlord, Property tax you paid, RRSP slips, expenses paid for children activity like swimming dance art lessons. 3. If you
Starting a business? Already have an established business, The next step is to look for an accountant to manage the business. Here are some guidelines on how to get the right person to handle your account. Tips for choosing: The accountant shouldn’t be far away from your place in case you need any clarification or