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It is not uncommon for Canadian tax payers to get confused over what it means to have to pay their tax by instalments. Some that are only familiar with parts of the tax law assume that these types of payments are only applicable to back taxes owed, and arrangements have been made to catch up…
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Most people like to keep their financial information to themselves, and even when having their taxes done by a professional they are reluctant to offer any information about their financial status. Not doing so could cost you money in potential tax savings. It could also get you into trouble regarding your tax obligations. If…
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Many of us were taught by our parents that if we start a small savings account and just keep adding small amounts to it that we will be pleasantly surprised at how fast it grows. What you may not know is the same can be said about the amount of money that you will end…
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Many people look forward to the day when they can collect their pensions that they have spent years contributing to. Some individuals have private as well as government pension plans that they are entitled to. From the government many retirees expect to receive both the Canada Pension Plan as well as the Old Age Pension.…
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If you are a Vaughan business owner it doesn’t matter whether you are big or small, there is a good chance that you could use the services of a quality accountant. It isn’t just at tax time that these types of accounting services are valuable either. Living on the outskirts of Toronto really does…
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Whenever anyone has what they feel is going to be a complex tax filing they automatically assume that they must get the best tax accountant. They believe that in order to do this they must head to the core of the city to find these experts. These tax tips for residents of Thornhill…
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It is not uncommon for most people to just receive their notice of assessment after filing their taxes and just accepting them as being totally accurate. The figures may be different than what you submitted concerning the tax return, but you just assume that the tax people are right and you are wrong. …
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Nobody likes to do taxes, but even more so nobody likes to be contacted by the CRA either. This type of contact can come either by telephone, or by mail. It doesn’t always mean that you are in tax trouble, so there is no need to panic. It also doesn’t work well to simply try…
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One of the problems that a lot of people run into is not filing their taxes on time because they know they are going to owe money to the Canada tax department. Some simply do not have the extra cash at the tax deadline, so they just don’t file. The CRA doesn’t recommend this and…
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When is the RRSP contribution deadline for 2013 Did you know that the RRSP contribution deadline for the 2013 tax year is Monday March 3, 2014. If you read my other article why you would want to contribute to your rrsp today and would like to make a contribution then Contributions can be made through…
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