Tag: Tax credits

Small Business Tax Strategies – Reduce Income Tax (2020)

There are many ways for small businesses to legally reduce their income taxes in Canada. This guide offers some of the top strategies to lower your taxes and keep more money in your business. ARTICLE TABLE OF CONTENTS Always Collect Receipts Manage RRSP and… Continue Reading “Small Business Tax Strategies – Reduce Income Tax (2020)”

Can I Split My Pension Income?

You and your spouse are enjoying your golden years together and share pretty much everything. The CRA (Canada Revenue Agency) recognizes that sharing is caring, so they allow senior couples to split pension income. This can offer you big savings on your tax bill,… Continue Reading “Can I Split My Pension Income?”

Filing Taxes for a Senior? 7 things You Can do to Maximize Their Return

Whether you’re caring for your aging parents or just helping them with their taxes, here are some tips to keep in mind so you can both get the most back when you file your taxes. 1. Make sure they file a tax return: Sounds… Continue Reading “Filing Taxes for a Senior? 7 things You Can do to Maximize Their Return”

This is one of the Most Commonly Missed Tax Credits. Can You Claim it?

Your parents worked hard to take great care of you growing up and you’re happy to return the favour. The good news? The CRA (the Canada Revenue Agency) wants to say “thanks” too. If you’ve got an aging parent or relative living under your… Continue Reading “This is one of the Most Commonly Missed Tax Credits. Can You Claim it?”

Tax Tips for Canadians over 65

If you’re in your golden years or taking care of a family member who is, take a minute to review what credits and deductions you could both be eligible for. Make sure you file a tax return: Always file, because you could be entitled… Continue Reading “Tax Tips for Canadians over 65”