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Unfortunately many Canadian seniors really don’t have a lot of income that really creates the need for using a Toronto Accountant. There are those seniors however or even some early retired “baby boomers” who made investments throughout their working years and now really need some help with their tax planning now they are retired. What…
Going through a divorce is not a pleasant experience. It has a dramatic and negative affect on several aspects of both parties including the children and other family members. One area that has to be addressed during this time is the legalities which include the finances. You both need to be able to depend on…
Personal tax returns can be difficult enough for Canadian tax payers, but when you have to complete your return as a self-employed individual then the real confusion sets in. The best step to take is to use the services of a Toronto Accountant who does this for a living, and will know what your best…
When spring is in the air it usually means that tax returns should soon be in the mail. Who in the world wants to be spending their time crunching figures and writing out cheques to the tax department? This is a job for your Toronto tax accountant. No matter how simple you may think your…
This is a follow up post to my original posting about tax free savings accounts to explain how the tax free savings account limit for 2013 works. Tax Free Savings Account Limit 2013 Although the annual tax free savings account limit for 2013 is $5,500 if you have never contributed to a tax free savings…
Do You Need to File a CPT30 Election Form On January 1, 2012 new rule changes came into place that will affect individuals and business owners who are 60 years of age and less then 70 years of age. Under the old rules once you began to receive Canada Pension Plan (CPP) retirement pension, which…
Year End Tax Planning Its a good time now to ensure that you have actually paid the following types of expenses before December 31, 2012 in order to claim a tax deduction on your return. They include: Fees paid to manage your investments. Safety deposit box fees. Interest on money borrowed for investment…
Tax Free Savings Account (TFSA) The tax free savings account (TFSA) started in 2009 and allows individuals 18 years of age who are residents in Canada to accumulate funds and earn income on the funds on a tax free basis. Unlike RRSP’s the annual limit is not based on earned income but is the same…
