Top 10 Tax Deductions for Rental Property Owners

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Top 10 Tax Deductions for Rental Property Owners
Tax season is just around the corner and if you happen to be a rental property owner, here are 10 tax deductions you may be able to take advantage of.
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9 Tax Planning Strategies to Reduce Tax Day Stress

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9 Tax Planning Strategies to Reduce Tax Day Stress
I Canada and the US, April brings with it the income tax deadline for filing your taxes ... and if you are like most people, it is hard not to feel a little bit of trepidation and stress around filing your taxes. With that in mind, let's look at some tax planning strategies to reduce tax day stress
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7 Tax Implications for Married Couples

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7 Tax Implications for Married Couples
Getting married is very significant life event, after which many things change. From a financial perspective, getting married is also a significant event and it carries a number of tax implications. here are 7 tax implications for married couples to keep in mind
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Tax Freedom Day 2013

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Tax Freedom Day 2013
Tax Freedom Day 2013 in Canada fell on June 10th according to the Fraser Institute. For your viewing pleasure, here's the 2013 version of the Tax Freedom Day video.
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Volunteer Firefighter Tax Credit

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Volunteer Firefighter Tax Credit
If you are a volunteer firefighter in Canada, you may be eligible for the Volunteer Firefighter Tax Credit to help reduce your income taxes. Watch the video to learn how it works.
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First Time Home Buyers Tax Credit

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First Time Home Buyers Tax Credit
For Canadian home buyers, the First Time Home Buyers Tax Credit is a non-refundable tax credit available to first-time home buyers of qualifying properties. Watch the video to learn how it works.
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Childrens Fitness Tax Credit

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Childrens Fitness Tax Credit
As we have mentioned in other posts, in Canada, there are a number of federal income tax savings credits available to help you reduce your taxes that you may not be aware of. The Children's Fitness Tax Credit is a non-refundable tax credit available to families to with eligible children enrolled in a prescribed program of physical activity. Watch this video.
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Public Transit Tax Credit

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Public Transit Tax Credit
For Canadians who regularly use public transit, the Public Transit Tax Credit is a non-refundable tax credit available to help offset the costs of unlimited transit passes you buy throughout the year. Watch this video to learn how it works.
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Tradespersons Tools Deduction

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Tradespersons Tools Deduction
If you are a tradesperson in Canada, you may be eligible to claim the Tradesperson's Tool Deduction to help reduce your taxes. Watch the video to understand how it works.
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Childrens Arts Tax Credit

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Childrens Arts Tax Credit
The Childrens Arts Tax Credits a non-refundable tax credit available to families to with eligible children enrolled in a program of artistic, cultural, recreational, or development activity. Watch this video to learn how it works.
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Family Caregiver Tax Credit

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Family Caregiver Tax Credit
In Canada, there are a number of federal income tax savings credits available to help you reduce your taxes. The Family Caregiver Tax Credit is a non-refundable tax credit for taking care of an eligible dependent. This video explains how it works.
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Canadian Income Tax Deadlines for Your 2012 Income Tax Return

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Canadian Income Tax Deadlines for Your 2012 Income Tax Return
Here is a quick reminder about some important Canadian Income Tax deadlines for filing your 2012 personal income tax return if want to avoid paying unwanted interest penalties.
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Pension Income Splitting to Reduce Your Taxes

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Pension Income Splitting to Reduce Your Taxes
We're into the final stretch drive for filing your 2012 income tax returns and so we want to highlight some opportunities to reduce your taxes. Pension income splitting is one tactic that may offer you the opportunity to reduce your overall 2012 income taxes. Here's how it works.
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2013 Canadian Federal Budget Charitable Gifting Changes

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2013 Canadian Federal Budget Charitable Gifting Changes
The 2013 Canadian Federal Budget was released on March 21, 2013 and includes some interesting proposed changes related to charitable gifting and tax shelters.
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How We Think About Charity

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How We Think About Charity
What if how we think about charity -- particularly in terms of whether or not a particular charity's overhead is too high -- is completely wrong?
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Commonly Overlooked Tax Deductions

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Commonly Overlooked Tax Deductions
Looking for ways to reduce your taxes always becomes top of mind when you are about to file your taxes.
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Tax Advantages of Owning a Small Business

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Tax Advantages of Owning a Small Business
It may not necessarily surprise you that there are a number of tax advantages of owning a small business, but if you are like most people, you don't necessarily really understand what they actually are. In today's post, lets walk through a simple overview of some key advantages when it comes to reducing the amount of income tax you have to pay.
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Income Tax Red Flags That Will Get You Audited

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Income Tax Red Flags That Will Get You Audited
We're rapidly approaching tax filing time in both the US and Canada. As you prepare to file your taxes, beware of these income tax red flags that will get you audited
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Tax Advantages of Gifting to Charity

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Tax Advantages of Gifting to Charity
If you are like most Canadians, you may not fully appreciate the tax advantages of gifting to charity ... and the real power of charitable donations to reduce the amount of income tax you pay. Here's a video from the CRA that might leave you surprised at the extent to which your are encouraged to give to charity.
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Year End Tax Saving Strategies

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Year End Tax Saving Strategies
there is still time to implement some money-saving tax strategies that can help to maximize your yearly deductions and minimize your upcoming tax bill. Here are some year end tax saving strategies to help reduce your income tax bill even if you haven't done much tax planning earlier in the year.
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