Personal tax Archives

Tax return guidelines for deceased taxpayers in Canada.

Filing tax returns for deceased in Canada In life, it is said that the only two certain things are death and taxes. While both of these may be inevitable, tax penalties due to incorrect actions are not. Have you been named someone’s legal representative, but are unsure of what to do? Let Allan Madan Chartered … Continue reading

Pooled Registered Pension Plans (PRPPs)

TAXATION Small-business owners and the self-employed now have a new pension plan alternative. How the PRPP Works Federal Pooled Registered Pension Plan legislation came into force in 2012. It is designed to provide a retirement savings option for the self-employed and businesses that do not have an employee pension plan. It is attractive for those … Continue reading

Personal Tax Saving Advice for Mississauga Residents

Interview with Justin Goulet This is news director Justin Goulet and I am here in the studio with Allan Madan, Chartered Accountant. The tax season is upon is so he is going to give you some helpful tips to survive this season. Justin: Allan, how are you today? Allan: I am doing well Justin, and … Continue reading

FINANCIAL PLANNING FOR CANADIANS: STARTING EARLY, STARTING SMART

WHY CANADIANS SHOULD START PLANNING THEIR FINANCES As Canadians, many of us may know the importance of preparing our finances for the future. However, it is a topic that is most dreaded. The idea of financial planning may get pushed into the back of our minds and forgotten about, only appearing around tax season. When … Continue reading

Tips for Filing Your Personal Tax Return in 2014 Watch Video

Are you looking for tips for filing 2014 personal tax return They include maximizing

Personal tax return filing tips for 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 Watch Video

There are a number of different tax credits and savings strategies

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 Tips for Seniors

Tip 1 – Always file a tax return even if you have no income Many retired individuals that have low or zero income assume they do not have to file a return. This is a big mistake and can lead to a loss of hundreds of dollars in benefits and credits. These include GST/HST Credit, … Continue reading

Tax Implications for Room and Board

Employers need to include room and board somewhere in the calculation of their nanny’s payroll. The Canadian Revenue Agency (CRA) states that free housing and meals provided to an employee is a taxable benefit and must be reported. However, most employers charge up to the maximum amounts allowed by Employment Standards. Each province’s maximums are … Continue reading

Financial Advice and Retirement Income Planning Mississauga

Nathan Parkhouse is an experienced financial advisor. After working with several financial firms, he opened his own private practice ‘Parkhouse Financial’ in 2006. He is devoted to tax efficient wealth creation and preservation and focuses on retirement income planning. Nathan is a Certified Financial Planner (CFP), Chartered Investment Manager (CIM), Financial Management Advisor (FMA), and … Continue reading

Tax Secrets of the Rich Watch Video

The rich utilized a number of different tax strategies and secrets to maximize their wealth.

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.

Tag: Personal tax