Shaelene’s Tax Tip of the Week – May 26th

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Did you know?

Claiming auto expenses is beneficial to reducing your taxable business income. Auto expenses include fuel and oil, license and registration, maintenance and repair, insurance, car washes, parking, tolls, interest paid on an auto loan and leasing costs. Be sure not to miss out on these costly expenses by being sure to save every receipt.

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Shaelene’s Tax Tip of the Week – May 19th

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Shaelene’s Tax Tip of the Week – May 19th

Are you or do you know a student?Remember: the T2202A, the credits received from the eligible tuition and education amounts, last indefinitely. They can always be carried forward to the next tax term if you don’t feel the need to use them. The student will find the prepared T2202A on the school website.

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Shaelene’s Tax Tip of the Week – May 12th

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Why should you consider buying into an RRSP (Registered Retirement Savings Plan)?

 It is a great way to save on taxes! Remember, this program is a tax deferral program, meaning that when you withdraw the funds at a later date, it is expected that you will be in a lower tax bracket. Once your money is in the plan it can grow and grow (thank you compound interest!) and again, you will only pay tax on the funds as you withdraw them. 

Have questions? Give us a call at 905-571-2665 (BOOK)!
We’ve got you covered!