Deadlines coming soon
December 31 is the deadline for a number of tax planning issues, tax-deductible items and other tax related applications.
If you plan to make a withdrawal from your TFSA (Tax Free Savings Account) in the next six months or so, I suggest you consider doing it before December 31. This would mean you could [...]

As we promised last week, here are some reminders and suggestions about how to reduce your taxes owing when you file your 2011 return.  Although there will be a Federal Budget March 29, none of those changes will affect your 2011 filing.
Hopefully, you took our advice from last week to create a checklist of tax [...]

Let’s reduce your taxes for 2011
As another tumultuous year draws to a close, let’s try to save you some tax money for 2011.
December 31 is the deadline for deductible business expenses, which mostly relates to commission salespeople and to business owners.  Corporate tax rates are going down in 2012, so it makes sense to accelerate [...]

This week’s budget was expected to be a particular non-event, with even the finance minister joking about it being a re-run of his March budget.Â
But the quick election call in March halted any real analysis of the measures then introduced, and some important items have been missed, particularly for flow-through share investors, charitable donors and [...]

I have been overwhelmed looking at coverage of the disasters in Japan.  We have to all contribute to the relief effort, as this is a series of catastrophes on a scale to which I can hardly relate.
Donations can be made online in a matter of minutes, to organizations like the Canadian Red Cross (www.redcross.ca 1-800-418-1111), the [...]

Last week we provided an overview of how you can provide donations in your will, or through life insurance policies or RRIF beneficiary designations, to benefit the charitable organizations of your choice when you pass away.
Now, with year-end looming, we will review the rules for current donations and how they reduce your current taxes.
First, though, [...]

They’re baa..ack!
As sure as the leaves fall, and the geese and Snowbirds fly south, autumn always sees a rampage of tax shelter offerings leading up to year-end.
Some are legitimate; some are not. Any proposal that promises you a charitable donation receipt for more than the cash contribution you are making is not legitimate. These will [...]