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

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Did you know?

Know the difference between a “tax credit” and a “tax deduction.”  A deduction is an expense or exemption which reduces your total taxable income. A tax credit is what reduces whatever you’re on the hook for income tax wise.

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

Shaelene’s Tax Tip of the Week – August 23rd

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Did you know?

From dental checkups and laser eye surgery to orthopedic shoes and private insurance premiums, the CRA allows you to claim a variety of medical expenses as non-refundable tax credits. Make sure to keep all your receipts, prescriptions, and other supporting documentation in case the CRA requests to see them later.

Have questions?

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

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Shaelene’s Tax Tip of the Week – August 16th

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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!

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