Tag: Family taxes

7 Things to Know About Childcare Expenses

With all of the love and joy that kids bring into our lives, the reality is they also bring more expenses. Luckily, the Canada Revenue Agency (CRA) recognizes this and makes room on your tax return for some childcare expenses. We’ve broken down how… Continue Reading “7 Things to Know About Childcare Expenses”

Thinking of becoming a Foster Parent? Here’s 3 things to know

If you’ve taken a child into your care as a foster parent, or are thinking about becoming one, it’s important to know how it might affect your finances and taxes. There’s lots to consider when taking a child into your home, and it can… Continue Reading “Thinking of becoming a Foster Parent? Here’s 3 things to know”

Are You Married in the Eyes of the CRA?

Does “it’s complicated” describe the status of your relationship? If you’re living with your better half, but haven’t made it official, you might be wondering how the Canada Revenue Agency (CRA) views your relationship with your partner. Claiming your relationship properly on your taxes… Continue Reading “Are You Married in the Eyes of the CRA?”

Yours, Mine and Ours: Tax Guide for Blended Families

If you went from being a single parent family to a Brady Bunch gang, you’ve already learned that adjusting to a new family dynamic isn’t always easy – especially in the case of blended families. Your tax return has also changed. What used to… Continue Reading “Yours, Mine and Ours: Tax Guide for Blended Families”

9 Tax Tips for Single Parents

Raising a child on your own is a big job! Managing a family is a lot of work, so when it comes to your tax bill, there’s a few ways the Canada Revenue Agency (CRA) helps out with expenses. We know it takes a… Continue Reading “9 Tax Tips for Single Parents”