Shaelene’s Tax Tip of the Week – July 21st

Books In Line

Did you know?

Whether you run your own business or only speak to Shaelene about your personal taxes, consider setting yourself up with Quickbooks Online and Dext (formerly Receipt Bank). Quickbooks is simple, easy, online bookkeeping. Dext allows you to take pictures of all your receipts and invoices so you can upload them to the cloud where we can instantly see them in real time.  While it does cost a monthly subscription fee, you can write it off as an accounting fee – these are reasonable accounting fees that you pay so that you can prepare and file your income tax.  It helps your accountants tremendously when all of your data is organized in a simple web interface.

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

We’ve got you covered!

Shaelene’s Tax Tip of the Week – July 14th

Books In Line

Are you interested in an upcoming election?

Remember: you can get tax credits for making donations to your preferred party and candidate. These credits include: 75% of your first $300, 50% of anything between $401 and $750, and 33.33% of the amount between $751 and $1,275.

So, if you donate the full $1275, you’ll receive a tax credit of $650.

Note: As of January 1st, 2017, this tip no longer applies to corporations. Corporations do however have up to 20 years to claim all unused contributions

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

We’ve got you covered!

Shaelene’s Tax Tip of the Week – June 30th

Books In Line

Have you had to take any prescription medications (that aren’t vitamins) that you don’t have coverage for?

You can write off any prescription medications that you took this tax year, before December 31st.  You can also claim medical insurance that you have purchased for an out-of-country trip!

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

We’ve got you covered!