Are you a Canadian looking for strategic ways to save money on your income tax? Keep reading to find out five effective tips that you should be utilizing right now. Maximize RRSPs Make a contribution each year to your RRSP (Registered Retirement Savings Plan) to the maximum amount allowed (i.e. RRSP limit) for the year. … Continue reading 5 Tips on How to Save Income Tax in Canada
Français Did you receive stock options from your Canadian employer? If yes, then it’s highly recommended that you go over the points in this article. In this article, I explain how the “Taxation of Stock Options for Employees in Canada” directly affects you.
TAXATION The Income Tax Act requires you to keep all documents supporting your business activity; in an audit, the CRA will demand them. Keep Everything According to the Income Tax Act, taxpayers must keep “records and books of account … together with every account and voucher necessary to verify the information contained therein” for a … Continue reading A Lesson in Record Keeping
TAXATION Keep complete records and make use of all your eligible deductions. Yes, it’s time to start thinking about income taxes again. The Holidays are over and the credit card statements are starting to come in so you’re probably thinking about money anyway. But instead of thinking just about paying off your credit cards, it … Continue reading Finalizing Your 2013 Income Taxes
The Federal Government is going to be taking more money from your paycheck and putting it towards the Canada Pension Plan. In doing this, their goal is to help support retired Canadians by giving them access to more retirement income.
TAXATION Registered Disability Savings Plans help persons with disabilities save for the future. Having a disability or caring for an individual with a disability can be emotionally and financially draining. The Canadian government, recognizing the need to assist in the future care of an individual with a disability, has created a vehicle for persons with … Continue reading Registered Disability Savings Plan (RDSP)
Are you a Canadian planning on temporarily working in the United States and are worried about how your payroll will be taxed? Learn about a strategy that will help you prevent double taxation and save your hard earned money along the way.
Do you have a significant amount of money in your RRSPs and are concerned about the high tax you will have to pay once you liquidate them? Read more to learn a useful strategy to liquidate your RRSPs today without having to pay tax and grow your savings tax efficiently.
Tax season is fast approaching and in efforts to gain your business, tax preparers may promise you big refunds, some of which are valid and others that are red flags. Read further to learn about the things you should consider and what to watch out for.
Sanjeey Khatter, like many Canadians today, was in the dark as to how to file his taxes. Therefore he took on a tax preparer to assist him with his financial needs. What occurred after was an unfortunate mixture of poor judgment and severe carelessness.
Are you frustrated during tax season trying to get all your receipts together? Your tax return can only be as organized and accurate as you prepare for it whether you are filing it yourself or with a professional. Here is what you can do now to get organized and make tax season easier.
Are you a young professional that’s just starting to handle your own finances? Now that you’re making more money than when you were in college, what do you do with it all? How do you plan on saving it and spending it? In this video, I will reveal some essential tips you should consider towards … Continue reading Tax Tips for Young Professionals
If you have just finished school, and are just starting out your professional life, you might be wondering what tax strategies and credits you should take advantage of. Learn about some of the basic things you should consider.