Shaelene’s Tax Tip of the Week – November 10th

Books In Line

Did you know? You can use childcare expenses to lower your taxable income. ?

Examples of childcare expenses include daycares, summer camps, overnight boarding schools and in-home providers like nannies. The government allows you to claim up to $8,000 for kids under age 7 and up to $5,000 for children aged 7 to 16.

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

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Shaelene’s Tax Tip of the Week – November 3rd

Books In Line
Did you know?
Many executors who are family members fulfill the role out of a sense of duty.  If you don’t mention Executor compensation it will be governed by the rules of the province where the deceased resides.  Executor fees are treated as taxable income, whereas gifts by a will are not.

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

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Shaelene’s Tax Tip of the Week – October 27th

Books In Line

Did you know?

You should keep your tax return documents, even after you file: “The more organized you can be with receipts and other documentation relating to your return, the better off you’ll be if you are selected for an audit. Be prepared to produce them quickly when CRA asks to see them, and keep in mind that members of your family may be asked to offer up their own documentations as well.”

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

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