Tax season is right around the corner. In order to maximize your personal tax refund, you need to get up to date on all the new tax credits, deductions and changes in the tax code that you may be eligible for. Here they are!...
What is it?: The Scientific Research and Experimental Development, or SR&ED, tax credit sounds like something a large company might use. But it’s actually a tax credit for businesses of all sizes. And the research doesn’t necessarily mean the development of new physical technology. The...
Although it’s holiday season and you can’t wait to celebrate, it’s also the end of the fiscal year and it’s crucial to make some smart tax decisions can help you save more money. The following tips can reduce your tax bill and could even recover...
The Canadian “Taxpayer Bill Of Rights1” says that it’s our right, as Canadian Citizens, to “pay no more and no less [tax] than what is required by law”. The days of the three-martini lunches may be long gone (sadly!), but knowledgeable entrepreneurs can still use...
[su_youtube_advanced url="https://youtu.be/JBU1tLG0p3E" autohide="yes" autoplay="no" rel="no" modestbranding="yes" https="yes"] 1. Filing Claims Without Valid Receipts1: What’s a valid receipt? A valid receipt demonstrates primary evidence of a transaction. What’s primary evidence? It’s a receipt provided by the vendor with all the details (date, amount, tax, location, vendor) of the...
One of the most powerful ways to reduce income taxes is to have a home-based business in addition to your regular nine-to-five job. As long as you follow the rules, you can deduct a wide range of business expenses such as: Tax Tip 1: Automobile Expenses Many...
Two sets of eyes peered at me expectantly with expressions of wonderment on their faces, and their breath caught in their throats.. waiting for the good news about their impending arrival. Their “arrival” was, of course, their tax refund.. which I was calculating as their...