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Weekly Tax Tips

 

2012  
   
11 May 2012 Tax Consequences for Canadians Doing Business in the U.S.
4 May 2012 Making an adjustment to your personal income tax return
27 Apr 2012 Check on the status of your tax return
20 Apr 2012 File your personal return on time
13 Apr 2012 More examination fees now qualify for the Tuition Tax Credit
5 Apr 2012 U.S. citizens and green card holders in Canada – tax return filing deadline
30 Mar 2012 Volunteer firefighters – remember to claim the new federal tax credit if applicable
23 Mar 2012 Remember to claim the new federal Children’s Arts Tax Credit if applicable
16 Mar 2012 Child Care Expenses
9 Mar 2012 Changes to reporting joint venture income
2 Mar 2012 File your trust tax return on time
24 Feb 2012 RRSP prohibited investment and advantage rules now law: Action may be needed before March 30, 2012
17 Feb 2012 Determine whether you should be keeping records of automobile expenses
10 Feb 2012 Review your personal tax instalment obligations
3 Feb 2012 Review pension income splitting with spouse
   
27 Jan 2012 Contribute to your RESP
20 Jan 2012 Can I make an RRSP contribution now and deduct it in a future year?
13 Jan 2012 Remember to make your required Home Buyers’ Plan repayment by February 29, 2012
6 Jan 2012 Reimburse personal operating costs on employer-provided automobiles before February 14
   
2011  
   
23 Dec 2011 Pay interest on employee loans before January 30
16 Dec 2011 Consider planning to reduce your corporation’s taxable capital before year-end
9 Dec 2011 Sell non-qualified assets in your RRSP before December 31
2 Dec 2011 Consider selling investments with accrued losses before the end of the year
   
25 Nov 2011 Pay for medical expenses and charitable donations in one year
18 Nov 2011 Remember to collapse your RRSP if you will turn 71 this year
11 Nov 2011 Ensure that the new filing requirements for Partnership Information Returns are met
4 Nov 2011 Delay RRSP Home Buyers’ Plan (HBP) withdrawals until after year-end
   
28 Oct 2011 Purchase assets eligible for CCA before year-end
21 Oct 2011 Corporate tax returns and refunds - remember to file your corporation’s tax return no later than three years after the end of the tax year
14 Oct 2011 Pay reasonable salaries to family members before year-end
7 Oct 2011 Remember the 21 year deemed disposition rule for trusts
   
30 Sep 2011 Purchase an annuity or RRIF to claim the pension income credit
23 Sep 2011 U.S. Estate Tax Issues for Canadians
16 Sep 2011 Carefully consider RRSP contributions
9 Sep 2011 Review your personal use of employer-provided automobiles
2 Sep 2011 Consider the timing of the taxation of interest earning investments
   
26 Aug 2011 The Tax Benefits of Scientific Research and Experimental Development (SR&ED)
19 Aug 2011 Review your outstanding debt to ensure that you make your interest expense deductible to the maximum extent possible
12 Aug 2011 When should you start to withdraw money from your RRSP?
5 Aug 2011 If you haven’t reviewed your remuneration plan recently, some changes may produce significant savings
   
29 Jul 2011 Is it better to contribute to my spouse's RRSP?
22 Jul 2011 How much can I contribute to a Registered Education Savings Plan (RESP) for my child?
15 Jul 2011 Ensure that your 2011 earned income allows the maximum 2012 RRSP contribution
8 Jul 2011 Tax Facts 2011
   
30 Jun 2011 Consider the Lifelong Learning Plan
17 Jun 2011 Tax-Free Car Allowance
10 Jun 2011 Defer Tax on Accrued Corporate Bonuses
3 Jun 2011 How many RRSPs can I have?
   
27 May 2011 Filing Reminder for Self-Employed Individual and Spouse
20 May 2011 When can I withdraw money from my RRSP?
13 May 2011 Filing an objection to your Notice of Assessment for your personal income
tax return
6 May 2011 Continue to deduct interest on your investment loan
   
29 Apr 2011 Making an adjustment to your personal income tax return
21 Apr 2011 Check on the status of your tax return
15 Apr 2011 Employed tradespersons can deduct part of the cost of eligible tools purchased throughout the year
8 Apr 2011 File Your Return on Time
1 Apr 2011 Deducting expenses as an employee
   
25 Mar 2011 U.S. citizens and green card holders in Canada – tax return filing deadline
18 Mar 2011 Review pension income splitting with spouse
11 Mar 2011 Special Canadian election due April 30 if you have a ROTH IRA
4 Mar 2011 File your trust tax return on time
   
25 Feb 2011 Automobile Expenses & Recordkeeping
18 Feb 2011 Travelling for Medical Treatments
11 Feb 2011 Review Your Personal Tax Instalment Obligations
4 Feb 2011 Avoid RRSP Overcontributions
   
28 Jan 2011 Claim Your Medical Expenses
21 Jan 2011 Can I Carry Forward My Unused RRSP Contribution Room to a Future Year?
14 Jan 2011 Remember to Make Your Required Home Buyers’ Plan Repayment by March 1, 2011
7 Jan 2011 Consider Using Your Tax-Free Savings Account
   
2010  
   
31 Dec 2010 Reimburse Personal Operating Costs on Employer-Provided Automobiles before February 14th
24 Dec 2010 Pay Interest on Employee Loans Before January 30th
17 Dec 2010 Make a Contribution to Your RRSP for 2010
10 Dec 2010 Purchase an Annuity or RRIF to Claim the Pension Income Credit
3 Dec 2010 Consider Selling Investments with Accrued Losses Before the End of the Year
   
26 Nov 2010 Sell Non-Qualified Assets in Your RRSP before December 31st
19 Nov 2010 Can I make an RRSP contribution now and deduct it in a future year?
12 Nov 2010 Pay Amounts Eligible for Deduction or Credit Prior to December 31st
5 Nov 2010 Purchase Assets Eligible for CCA before Year-End
   
29 Oct 2010 Split Canada Pension Plan (CPP) Benefits with Your Spouse
22 Oct 2010 Should I borrow to make my RRSP contribution?
15 Oct 2010 Pay for medical expenses and charitable donations in one year
8 Oct 2010 Pay Reasonable Salaries to Family Members before Year-End
1 Oct 2010 Family Trust Audits Highlight Need for Proper Trust Records
   
24 Sep 2010

Defer Capital Gains Where Proceeds Reinvested in a Small Business Corporation

17 Sep 2010 Review the Mix of Investments in Your Portfolio
10 Sep 2010 Remember to Collapse Your RRSP if You Turn 71 This Year
3 Sep 2010 Utilize your capital gains exemption for qualified small business corporation shares and qualified farm/fishing property
   
27 Aug 2010 Pay Dividends from Your Corporation
20 Aug 2010 Loan Funds to Your Spouse to Start-Up a Business
13 Aug 2010 Vacation Properties and Capital Gains - Remember to Track Your Costs
6 Aug 2010 Tax Facts 2010
   
30 Jul 2010 Ensure that your 2010 earned income allows the maximum 2011 RRSP contribution
23 Jul 2010

More Family Income Splitting Opportunities

16 Jul 2010 Watch Your Timing When Replacing Funds Withdrawn from Your Tax-Free Savings Account
9 Jul 2010 Should tax considerations affect my RRSP investment strategy?
2 Jul 2010 Family Income Splitting Opportunities
   
25 Jun 2010 Defer Tax on Accrued Corporate Bonuses
18 Jun 2010 Do You Have Documentation for Your Management Fees?
11 Jun 2010 Pay Your Spouse a Director’s Fee
4 Jun 2010 Protect Yourself Against Fraud and Identity Theft
   
28 May 2010 Filing Reminder for Self-Employed Individual and Spouse
21 May 2010 Can my RRSP invest in my own business?
14 May 2010 U.S. Tax Issues for Canadians
7 May 2010 Can my RRSP hold a mortgage on my home?
   
30 Apr 2010 Filing an Objection to Your Notice of Assessment for Your Personal Income Tax Return
23 Apr 2010 What investments can I hold in my RRSP?
16 Apr 2010 Making an Adjustment to Your Personal Income Tax Return
9 Apr 2010 Check on the Status of Your Tax Return
1 Apr 2010 File Your Return on Time
   
26 Mar 2010 Child Care Expenses
19 Mar 2010 U.S. Citizens and Green Card Holders in Canada – Tax Return Filing Deadline
12 Mar 2010 Employment Insurance Benefits for Self-Employed People
5 Mar 2010 File Your Trust Tax Return on Time
   
26 Feb 2010 Contribute to Your RESP
19 Feb 2010 Mandatory Electronic Filing
12 Feb 2010 Automobile Expenses & Recordkeeping
5 Feb 2010 Avoid RRSP Overcontributions
   
29 Jan 2010 Consider Contributing to an Individual Pension Plan
22 Jan 2010 Review Your Personal Tax Instalment Obligations
15 Jan 2010 Remember to Make Your Required Home Buyers’ Plan Repayment by March 1, 2010
08 Jan 2010 Make a Contribution to Your RRSP for 2009
   
2009  
   
31 Dec 2009 Reimburse personal operating costs on employer provided automobiles before February 14th
24 Dec 2009 Pay Interest on Employee Loans before January 30th
18 Dec 2009 Can I Carry Forward My Unused RRSP Contribution Room to a Future Year?
11 Dec 2009 Pay Amounts Eligible for Deduction or Credit Prior to December 31st
4 Dec 2009 Pay Reasonable Salaries to Family Members Before Year-End
   
27 Nov 2009 Consider Selling Investments with Accrued Losses Before the End of the Year
20 Nov 2009 Purchase an annuity or RRIF to claim the pension income credit
13 Nov 2009 Sell non-qualified assets in your RRSP before December 31st
06 Nov 2009 Understanding Trusts
   
30 Oct 2009 Remember to Collapse Your RRSP if You Will Turn 71 This Year
23 Oct 2009 Consider planning to reduce your corporation’s taxable capital before year-end
16 Oct 2009 Delay RRSP Home Buyers’ Plan (HBP) withdrawals until after year-end
09 Oct 2009 Avoid RRSP Overcontributions
02 Oct 2009 Purchase Assets Eligible for CCA Before Year-End
   
24 Sep 2009 Consider the Lifelong Learning Plan
17 Sep 2009 Consider contributing to an Individual Pension Plan
10 Sep 2009 Review Your Personal Use of Employer-Provided Automobiles
03 Sep 2009 Consider the timing of the taxation of interest-earning investments
   
27 Aug 2009 Review Your Outstanding Debt to Ensure that You Make Your Interest Expense Deductible to the Maximum Extent Possible
20 Aug 2009 When should I start to withdraw money from my RRSP?
13 Aug 2009 Carefully Consider RRSP Contributions
07 Aug 2009 Corporate Group Loss Utilization
   
30 July 2009 Ensure that your 2009 earned income allows the maximum 2010 RRSP contribution
23 July 2009 Tax-Free Car Allowance
16 July 2009 Seek Tax Advice Before Settling Debts
8 July 2009 Tax Facts 2009
2 July 2009 How many RRSPs can I have?
   
18 Jun 2009 Defer Tax on Accrued Corporate Bonuses
11 Jun 2009 IRS Temporarily Suspends Foreign Bank Account Reporting for Non-US Persons
   
28 May 2009 Renovate Your Home
21 May 2009 Filing Reminder for Self-Employed Individual and Spouse
14 May 2009 When can I withdraw money from my RRSP?
7 May 2009 Filing an Objection to Your Notice of Assessment for Your Personal Income Tax Return
   
30 Apr 2009 Income Split by Taking Advantage of Low Interest Rates
24 Apr 2009 Making an Adjustment to Your Personal Income Tax Return
16 Apr 2009 Check on the Status of Your Tax Return
10 Apr 2009 File Your Return on Time
2 Apr 2009 Claim Your Medical Expenses
   
25 Mar 2009 U.S. Citizens and Green Card Holders in Canada – Tax Return Filing Deadline
18 Mar 2009 File Your Trust Tax Return on Time
4 Mar 2009 Automobile Expenses & Recordkeeping
   
25 Feb 2009
Continue to Deduct Interest on Your Investment Loan
18 Feb 2009 File Your Return Electronically if You Expect a Refund
11 Feb 2009 Review Your Personal Tax Instalment Obligations
04 Feb 2009 Avoid RRSP Overcontributions
   
28 Jan 2009 Make a contribution to your RRSP for 2008
21 Jan 2009 Remember to make your required Home Buyers’ Plan repayment by March 2, 2009
14 Jan 2009 Reimburse personal operating costs on employer provided automobiles before February 14th
07 Jan 2009 Pay interest on employee loans before January 30th

 

 

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