There are lots of advertisements in the media about the Disability Tax Credit. It's true, many people may qualify but don’t even know it because it can be confusing. And many people don’t consider themselves “disabled” so don’t want to apply for it. I have even heard...
The Registered Retirement Savings Plan (RRSP) contribution deadline for claiming the deduction on your 2017 income tax return is March 1, 2018. For many people, RRSPs are a very important tool to save for their retirement. If you do not have a generous pension plan...
I'm hoping to convince many of you faithful readers to add one more item to your list of New Year's Resolutions for 2018. "I will get my Will done!" There are too many of you that do not have a Will (and Power of Attorney and Health Care Directive, but one at a...
There are a few things you can do before December 31st to save on your 2017 taxes, but don't wait 'till the last minute. The First-Time Donor's Super Credit ends December 31. If neither you nor your spouse claimed a donation tax credit from 2008 to 2016, you can get a...
For those who need home care, there are options to the traditional home care that is arranged by the local regional health authority. It is not well known, but it may be appropriate for your family's situation. It is taking over the management of the home care for...
This past summer, the federal government has proposed a few changes to taxes that will affect incorporated small businesses. For the most part, I agree with the changes. It's time for the more wealthy small business owners to pay more in taxes. There is much in the...
Many executors or surviving family members contact me after someone in their family has died. Even though the family ask for help with the income taxes, I do provide some general guidance regarding how the Estate is processed by the executor. One thing I've realized...
It's summertime and only tax professionals are thinking about taxes. I'm thinking about your taxes all the time. But this time of year, maybe while I'm sipping on something refreshing! Some people should be thinking about their tax situation now; if you start thinking...
This past tax season after meeting with many of my existing tax clients and many new people, I was asked many times, when are you having another Death Café? From now to November, we will have one every month; the third Thursday of each month, starting July 20 we will...
Before talking about your marital status, a quick note about the June 15 deadline. If you need to make installment payments for 2017, June 15 is the next quarterly deadline. And if you are a snowbird and in the US on average 120 days or more per year, you may need to...
So you have filed your taxes on time and you have received your Notice of Assessment (Notice) from Canada Revenue Agency (CRA), now what? Have a good look at it. You may learn some things about your taxes. Most people just “file it away”. But before you do have a look...
In March 2017, there were a few new announcement that will change the personal income taxes for 2017. I'll explain some of the changes and also revisit other changes to the 2017 taxes that were announced in the past year. First, there is a new Canada Caregiver Credit...
The 2016 Personal Income Tax season is underway! I look forward to helping our clients get their taxes done on time and as complete and as accurate as possible. My goal is to make sure you receive the largest refund as legally possible or have you pay the least amount...
The Registered Retirement Savings Plan (RRSP) contribution deadline for claiming the deduction on your 2016 tax return is March 1, 2017. For many people, RRSPs are a very important tool to save for their retirement. Everyone that does not have a generous pension plan...
First I would like to wish everyone a Healthy and Happy New Year! Hope 2017 is the best year yet for you and your family! If you have children under age 18, you really should consider purchasing RRSPs (Registered Retirement Savings Plans) before the March 1 2017...
The December 31st deadline is important for making charitable donations, incurring medical expenses, for contributing to spousal RRSPs (if you are close to retirement), contributing to RESPs, and for RRSP or RRIF withdrawals if you are in a low tax bracket. Do you...
I am in the middle of my first three part Estate Planning workshop. The participants have completed two of the three day event and feedback has been very good. There were lots of questions and discussion around the legal representative, so I thought I should share my...
I've met with a several clients in the past few months regarding their cottage (or recreational property). There sure are many myths and mixed messages around cottages regarding taxes and what happens when you die. I will discuss the tax issues surrounding the capital...
Since the personal income tax season ended about June 15, I've been trying to catch up on some reading. If you have been to the waiting area in my office you will have noticed I have a fairly large library of reading material, but of course most of it is around...
The new Canada Child Benefit CCB) makes the first of its monthly payments starting July 20th. This benefit replaces the previous Canada Child Tax Benefit (CCTB) and the Universal Child Care Benefit (UCCB). There are two major differences. First, the benefit is...
(this article was submitted to the Dawson Trail Dispatch for the June 2016 edition) I know you are relatively new to your position, Mr Cameron Friesen, but there are a few items related to our Personal Income Taxes that make me angry every year and have been for...
Most of you have filed your 2015 taxes on time and before the May 2 2016 deadline. If you haven't yet and you are expecting a refund, you can relax: you are not penalized for being late (CRA doesn't mind having your money a bit longer), but get it filed soon so you...
Manitoba is one of the highest taxed provinces in Canada; especially for lower income individuals and seniors. Here are a few comments you can tell the candidates as they come to your door or if you see them at events before the April 19 election. Cut out this article...
Since Canada Revenue Agency opened on February 15 we have been busy filing tax returns for many individuals in the area. And clients are reporting they have been getting their refunds in their bank accounts in as little as 8 business days! Remember if you are still...