Get Ready To File Your Income Taxes

by Tax Guy on January 4, 2012 Print This Post Print This Post

A colleague of mine ran out last week and purchased tax preparation software so he could get a head start on his taxes! Filing your taxes is often in the same category as visiting the dentist to have your teeth drilled. You know you need to do it, but would rather put is off until the [...]

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2010 Year End Tax Planning Strategies

by Tax Guy on December 7, 2011 Print This Post Print This Post

The end of 2011 is near! If you have not considered your tax options, now is the time to consider the year end tax planning strategies that must take place before the end of 2011. Be mindful of the timing of investment transactions. Many stock and mutual fund transactions must happen before the end of [...]

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2012 RRSP Contribution Deadline

by Tax Guy December 2, 2011

It seems that there is some confusion around the 2012 RRSP deadline and a lot of websites are proclaiming the wrong RRSP deadline for 2012. Contributions made in the current tax year or within the first 60 days of the following year can be deducted on your tax return [s.146(5)]. The deadline for contributing to [...]

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Selling Your Business & Saving Taxes

by Tax Guy November 24, 2011

You started your business from scratch and built it into a successful enterprise. Perhaps you want to retire and spend time with your family or maybe you want to move on to something different. Either way the value built up in your business will result in a tax a tax bill. Luckily the Income Tax [...]

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Income Tax and Short Selling Stocks

by Tax Guy October 6, 2011

Savvy investors who feel the value of a stock will go down can use a strategy know as a short sale. Short sales have their own unique tax profiles and anyone considering a short sale should be aware of the tax consequences. A visitor to The Canadian Tax Resource Blog asked about how dividends were [...]

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Understand Your Pension Decision

by Tax Guy June 1, 2011

If you have a defined benefit pension plan and are retiring or leaving your employment, you may be presented with different pension options. Depending on the terms of your pension plan, you will be offered any or all of the following choices: Lifetime pension from the pension plan, lump-sum transfer to a locked-in RRSP, or a transfer [...]

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The Spousal RRSP & The Double Trap

by Tax Guy April 2, 2011

If you have a spousal RRSP, be aware of the special spousal RRSP rules that may apply when your spouse withdraws from the plan. If you have withdrawn from a spousal RRSP, you may have experienced the way these rules are applied. When you consider the tax withheld on the RRSP withdrawal the results can be [...]

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Weekly Reading: Blog Update

by Tax Guy April 1, 2011

Each week, I share articles and stories from other blogs and websites I’ve come across. The most popular articles and commenter’s are also be mentioned. I encourage you to take a look at these articles and visit their sites. If you have an idea for an article on CTR or would like me to cover [...]

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