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If you work in an industry where part of your income is based on tips you may be really tempted to not claim these on your tax return. Common industries where tipping is well known are restaurants, beauty salons and transportation services like taxi. Now as a tax payer you are well aware…
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When it comes tax time all those who have to file begin to seek out some professional help. It is also the time of year when it is normal to see a lot of temporary offices pop up for the purpose of offering tax services. They offer lucrative rates for tax preparation and extended…
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For a lot of people it is really difficult to give much thought to any type of savings plan because it is all they can do to make ends meet now. Often this means not paying attention to the registered retirement savings plan in respect to the deadline date for contributions, or even to…
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Whenever there is a hint of a new tax that may be levied in the future a lot of Canadians immediately get their backs up. They already feel like they are being taxed to death, and at some point collectively will say enough is enough . However, they may not have that same approach…
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As we all know our tax dollars go into the various levels of government to help pay for all the services, programs and infrastructure that we count on as Canadian citizen. Each tax dollar we pay is divided into specific amounts that get allocated to the different departments providing these amenities. What happens when extra…
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When you hear of our government using a term such a Code 2015 it can conjure up all kinds of thoughts. Is it a new bill that needs to be passed? Is it some sort of new emergency term, or is it some type of new government program? The latter is correct in a…
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You have probably grown tired of hearing how you should be saving for your senior years, and maybe you have played it smart and taken out some RRSPs (registered retirement savings plan). You are still young and have a long future ahead of you in the meantime. Lots of decisions to be made…
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If you bought a home in 2014 then chances are you had a whole lot of additional expenses aside from the actual purchase of the property itself. There were probably closing costs, real estate fees and maybe even moving expenses. These all add up, but with the excitement of buying a home the…
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There are so many things to think about in life when it comes to finances. We know that we all have to pay taxes and for the most part we are just glad to get it over and done with each year. Many times we just give some fleeting thoughts as to what…
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There are a lot of people who consider themselves the average tax payer, that have the luxury of filing just a basic tax return. At the same time several of these individuals own property outside of Canada, as a second home perhaps, or maybe as an investment to help pad their nest egg when…
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