Personal tax Archives

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

What are employee expenses?

Are you an employee looking to save on taxes? Did you know there are deductions that might be available to you? As far as deductions go, you have probably about small businesses and corporations. A business owner or corporation can deduct any reasonable expense incurred in the when earning income. Unfortunately, there is not as … Continue reading

Understanding advanced tax rulings and interpretations.

Are you entering a business deal, but are unsure of any tax effects it may trigger? If you are, you should consider both the cost and benefit of requesting an income tax ruling and an interpretation. In this article, I will provide you with further information on this complex topic so you can make an … Continue reading

Reducing your risk of a tax audit: effective tips.

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 Watch Video

Do you want to learn how to reduce the risk of being tax audited?

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.

Tag: Personal tax