We are quickly approaching the most wonderful time of the year. We aren’t referring to Christmas or New Year’s, but to TAX TIME! The end of the year makes us giddy at Calgary’s Choice Tax Services. Though we do love to bake and spread Xmas cheer, it means tax time is just around the corner. […]
Charitable Giving More Important Than Ever Charitable giving is one way that taxpayers can support a cause or organization close to their heart. In 2020, during a time of COVID, ton here are more worthy causes than ever before and fewer people able to contribute. It has been a difficult year for so many. As […]
Due to the COVID-19 pandemic, the majority of employees are working at home. Many of our clients have asked whether they can claim their home office on next year’s income tax return.
The Federal government recently announced the CERB, Canada Emergency Response Benefit, to provide income assistance to Canadians during this unprecedented time. Unlike your regular paycheque though, income tax will not be withheld by the government. What does this mean? A year from now, when you file your 2020 income tax return you will owe income […]
Have You Gone Digital? You could save on Taxes! There is a new non-refundable digital tax credit that will be available on the 2020 to 2024 income tax returns.
At Calgary’s Choice Tax Services, we always recommend filing your income tax return on time. Canada Revenue Agency are in the business “of taking money” and they want the money they are owed in a timely fashion. As most taxpayers are aware, there is no penalty for filing your return late if you are receiving […]
by Jamie Golombek, October 25, 2019 Woman who used swaps to run TFSA up to $200K from $5K in one year suffers triple loss in court appeal. by Jamie Golombek, October 25, 2019 Most Canadians use TFSAs as intended — as general-purpose savings or investment vehicles to grow funds, tax-free, for future use. And, unlike […]
Did you know that CRA has made changes to the medical expense tax credit to allow taxpayers to claim certain expenses for a support animal For taxpayers who require specialized training for an animal, to help them cope with an impairment, the expense can be claimed as a medical expense. Currently, the following impairments […]
Posted by Enoch Omololu | Updated on Apr 24, 2019 The 2019 tax filing season will soon be here and if last years timeline is anything to go by, it will kick off around the third week of February 2019. The tax-filing deadline for most Canadians (for the 2018 tax year) is on April 30, 2019. For those […]