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LESSONS FROM TAX SEASON The April 30 tax deadline has come and gone. Some people still have until June 15th to file without penalty but these folks should have paid their estimated taxes by April 30 to avoid interest … Continue reading
Valuable information from Daniela Hops CMA, Padgett Business Services of Calgary West www.padgettcalgary.ca Should I incorporate my business? Here are a few reasons why you may want to incorporate your company: Trying to get financing. It shows the lender you … Continue reading
BE ORGANIZED FOR TAX SEASON Yesterday I was talking about the various ways you might prepare your tax return with the goal of filing on time. I was working on several files for taxpayers yesterday and it occurred to me … Continue reading
MISSION: FILE MY TAXES BY THE DEADLINE There has been a lot of buzz at this time of year regarding getting your taxes filed on time. Should I try to do it myself? Should a buy a do-it-yourself tax program? … Continue reading
EI 2012 Not only will you see a little less take home pay as a result of CPP but now CRA has announced higher rates and maximums for EI. The following table is from the CRA announcement. Year Max. … Continue reading
MORE CPP Further to the comments that I made about changes for taxpayers that are 61 to 70, here is some information for everyone that will dent your 2012 pay. CRA has set the maximum pensionable earnings under the Canada … Continue reading
Estate Planning There are several areas that are included in estate planning. Here is a brief list of some of them: You should have a will that includes your desires and tax considerations. You should … Continue reading
CANADA PENSION PLAN Did you know…? Changes to the way employers deduct Canada Pension Plan (CPP) contributions are coming into effect in January 2012. Important facts for employers Starting January 1, 2012, you must deduct CPP contributions for all employees … Continue reading
THE CRA LETTER On December 16, 2011, the Canada Revenue Agency (CRA) reported that it will be conducting a 2012 letter campaign in the near future. Two types of letters can be expected. The first letter will explain the eligibility … Continue reading
TAX PLANNING 101 Undoubtedly you have been reading about tax ideas to reduce your 2011 tax burden. Some of these ideas are time sensitive such that you need to act before December 31. Just a few ideas and this is … Continue reading