My Blog – Page 2 – Books in Line Professional Services Inc.

Shaelene’s Tax Tip of the Week – September 15th

Did you know?

Individuals who received COVID-related benefits and whose 2020 taxable income is $75,000 or less qualify for interest relief. We will not charge interest from May 1, 2021 to April 30, 2022, on any balance owing on the 2020 tax return.Have questions? Give us a call at 905-571-2665 (BOOK)!

We’ve got you covered!

Shaelene’s Tax Tip of the Week – September 8th

TFSA or RRSP?

“The “best” investment is going to depend on your individual financial situation and goals. Remember: With a TFSA, you pay tax on money you’ve earned before you make a contribution: and with an RRSP you get a tax refund now on money you contribute, but will have to pay tax later, on money you withdraw from the plan.This difference, along with your income, your investment timeline, and other factors will all contribute to making the right decision for your investment dollars. You may find that you can use both vehicles simultaneously.”

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

Shaelene’s Tax Tip of the Week – August 25th

Are you self-employed?

Remember to set aside at least 25% for personal income tax. As a general rule, you should always set aside 25% of your income for taxes. You’re taxed only on your net income which is your total income minus all your expenses.

Have questions? Give us a call at 905-571-2665 (BOOK)!

Home