Tax filing season is here, and that has many of us scrambling to pull together issued slips, receipts and expense records to file their return ahead of the April 30th deadline.
Whether you’re a do-it-yourselfer or you depend on the services of an accountant to ensure all is in order, being organized and maintaining good records is a must to ensure nothing is missed.
Ascend Peterborough senior manager and chartered professional accountant Evan Caruso’s best advice is to be aware of what’s coming your way based on your situation, and move to obtain anything that’s missing.
Caruso says being aware of ways to reduce your tax bill, such as RRSP contributions, childcare and moving expenses, and if you’re self-employed, home office and vehicle expenses, is key. Another thing to stay on top of is out-of-pocket medical and dental costs.
Caruso says there comes a point when the services of an accountant to do your tax return are beneficial.
(Written by: Paul Rellinger)
