Am I Eligible to Deduct Home-Office Expenses?

So you are probably asking yourself can I deduct home-office expenses? Those who run a home office and use a portion of their home as a designated office space are eligible to claim relevant tax deductions. The primary condition is that the home must be your primary place of business.

How to Prevent Paying Car Tax

If you use a vehicle for work and would like to avoid paying tax on it. It is important that you do not pay for those related expenses through your business account. Rather, you should pay for it out of your personal account. This way it becomes a taxable benefit for you on your personal … Continue reading How to Prevent Paying Car Tax

How to Reduce Your Risk of Being Tax Audited

Do you want to learn how to reduce the risk of being tax audited? Tax audits are a legitimate concern for everyone. However, your risk can be greatly reduced by avoiding key audit triggers such as reporting consecutive years of business losses and making high expense claims. Additionally, you should also ensure that you have supporting … Continue reading How to Reduce Your Risk of Being Tax Audited

Tips for Filing Your Personal Tax Return in 2014

Are you looking for tips for filing 2014 personal tax return They include maximizing eligible personal tax credits, filing a tax return despite having low or zero income, reporting all T-Slips, and transferring all unused credits to your spouse.

Top 4 Celebrity Tax Cheats

The list for celebrity tax evaders goes on and on with some owing as much as millions in unpaid taxes. Some of the biggest celebrity culprits include Martha Stewart, Pete Rose, Marc Anthony and Willie Nelson.

Tax Credits and Strategies for Married Couples

There are a number of different tax credits and savings strategies that married or common law couples can take advantage of. These include claiming non-refundable tax credits for medical expenses, the new family care-giver tax credit, and if they have children, they can use the art activity credit.

Tax Secrets of the Rich

The rich utilized a number of different tax strategies and secrets to maximize their wealth. This includes stock options, golden parachutes, capital gains, and equity swaps. Consider using some of these for your own personal gains.

What are Bitcoins?

Bitcoins is a virtual form of currency used in a barter system of exchange. Its increasing popularity online has complicated tax issues in many countries. In Canada, bitcoins will be taxable, while the in the United States, the IRS has yet to address this issue.

End of the Year Tax Tips for 2013

The end of the year provides an optimal time to use a tax savings approach. This strategy involves deferring expected income, offsetting capital gains while maximizing tax benefits, donating shares and pay non-eligible dividends.

Individual Tax Credits That You Can Claim in 2014

For Canadians in 2014, there will be some changes to three existing tax credits. This includes the lifetime capital gains exemption, the adoption expense tax credit and the hiring credit for small businesses. This also includes the introduction of the first time donor’s super credit.

Tax Planning For Retired Canadians

It is essential for seniors to adopt a plan regarding taxes when planning for retirement. This plan should include using the pension income tax credit, claiming the age amount tax credit, splitting retirement pension income with a spouse, and using the registered retirement income fund.

Secret Tax Credits for Canadians

There are hidden and secret tax credits for Canadians that can reduce your tax bill significantly. This short video and article reveals the top secret tax credits that the government doesn’t want you to find out about. Continue reading to find out more.

How to Minimize Taxes on Your Salary and Wages

What if you are told that you can save money in taxes even if you are a salaried individual? Sounds good? Go through this guide about how to minimize taxes on your salary and wages to benefit.

Tax Strategies for Newlyweds

This short article is called tax tips for newlyweds. If you recently got married and have a hangover from the bill, this article is certainly for you.

What are the Tax Deductions for 2012 in Canada?

This article talks about 2012 tax deductions for individuals. I am going to review the five most missed tax deductions. So, let’s get started.

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