RSSTax

Self Employed? Your Tax Deadline Is Coming | Tax | Money Savings

| December 11, 2017 | 0 Comments

Frequently Asked Questions From The Self-Employed Do I really need to fill out a T2125? Yes. Even if you are a student with a summer job that paid you as a contractor, you should still report the income on a T2125 Form and claim reasonable business expenses. It may be tempting to enter the income on […]

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Crossing the border can be taxing | Tax | Money Savings | Larkycanuck.com

| September 12, 2017 | 0 Comments

Sharing the border with the U.S. means it is relatively easy to cross the border for a holiday or to visit an outlet mall. Infrequent visitors who are in the U.S. for 31 days or less a year are considered visitors and are not generally subject to U.S. income tax. However, Canadians spending more time […]

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4 common tax mistakes made by students | Tax | Money Savings

| July 14, 2017 | 3 Comments

Mistake #1 – Filing only after turning 18 A common mistake made by young folks is not realizing that you have to file a tax return when you are earning taxable income and not just after turning 18. In other words, you may be a dependent while earning income (summer jobs, online work) but you are […]

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How to save money during an unemployment period | Tax | Money Savings

| April 13, 2017 | 9 Comments

Going through an unemployment period in one’s life is never fun. It is a phase that can lead to a lot of stress and disharmony in the self and family. However, after the initial stress and shock of unemployment has passed, this moment can also offer incredible opportunity to refocus one’s life and career plans. […]

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Two simple tips on tax savings over holiday season | Tax | Money Savings

| April 10, 2017 | 6 Comments

Holiday season is around the corner folks! The mood is festive, the gifts are flowing, the music is playing and the lights are growing. Yes, it indeed a very jolly good time of the year. But while this moment lasts for a short time for you, it happens to continue for a very long time […]

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Pre-holiday season money-saving tips | Tax | Money Saving Tips

| March 20, 2017 | 0 Comments

This is a guest post from Jon Lal, founder of coupons & cash back website BeFrugal.com and couponing & savings expert. Getting a head start on holiday shopping before the rush can help you save time and money as you can take advantage of sales, have a better choice and use free online resources. In […]

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New CRA Credit Rules For Your 2014 Tax Return Should Mean Bigger Refunds

New CRA Credit Rules For Your 2014 Tax Return Should Mean Bigger Refunds

| February 12, 2017 | 0 Comments

What’s New For Your Tax Return? New Credits Should Mean Bigger Refunds for Canadian Families Tax season isn’t usually a time of year people look forward to.  In fact, most Canadians dread the idea of organizing, filing and then potentially owing money to the government instead of seeing money back in their pockets.  Fortunately, there […]

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Marriage and Taxes | Tax | Money Saving Tips

Marriage and Taxes | Tax | Money Saving Tips

| September 4, 2016 | 0 Comments

The biggest events in life also have big tax implications. Saying “I do” is among the biggest of life’s changes, and from a tax perspective it’s right up there with..well…death. One common misunderstanding is that the Canada Revenue Agency distinguishes between marriages, common-law relationships and civil unions. It does not. Similarly, the CRA treats same-sex […]

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Vehicles for Business: Auto deductions | Tax | Money Savings

Vehicles for Business: Auto deductions | Tax | Money Savings

| September 1, 2016 | 0 Comments

Car-related tax deductions exist, but the rules are fairly restrictive If you use a vehicle to earn employment or business income, the Canada Revenue Agency allows you to make some auto-related deductions on your tax return, but the government cannot be said to be generous in this area. Those who lease a vehicle can claim […]

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Family Business: How SME income-splitting works | Tax | Money Savings

| August 23, 2016 | 2 Comments

It’s exhilarating and liberating to watch your small business grow and become a success. After long hours of stress and hard work, you’re finally on the map. But as your unincorporated small business begins to thrive, its increasing revenue may begin pushing you into a higher tax bracket. The potential for income-splitting within the family […]

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