Tax Time: Tax Deductions & Credits For 2010 + Giveaway

by Tax Guy March 2, 2010

Now that the RRSP deadline has passed, many Canadians will start preparing their individual income tax returns.
The filing deadline for 2010 is April 30th for individuals and June 15, 2010 for those with self-employment income.
Tax Deductions & Credits Other Than RRSP’s
For most individuals, RRSP’s are their biggest single tax deduction. And while there are strict [...]

Read the full article →

Announcing 2 New Tax Calculators

by Tax Guy February 28, 2010

One of the problems publishing a tax website is keeping the rates and calculators up-to-date. Up to now, I have linked to other websites on the internet that offered tax calculators, tools, and rate cards. However, I am finally able to create and deliver my own set of tax calculators and rate cards (and keep [...]

Read the full article →

Budgeting vs Cash Flow Planning

by Tax Guy February 27, 2010

The dreaded “B” word drums up a lot of emotions in people. Often budgets are associated with cost cutting or even financial failure or bankruptcy. However budgets are by businesses and other successful people to establish a spending plan and to map out their financial future. Budgets are a useful starting point in establishing your financial plan but they are narrowly focused and typically only look at your expenses.

Read the full article →

Encana Spinoff And The ACB?

by Tax Guy February 26, 2010

Are you trying to figure out your adjusted cost base (ACB) after Encana split off into Encana and Cenovus?
Encana spun off a portion of its business into a new company called Cenovus last year. If you owned shares of Encana prior to the split, you would have received one share of Cenovus for every share [...]

Read the full article →

Tax, DSC Mutual Funds And Free Units

by Tax Guy February 24, 2010

If you purchased back-end load mutual funds (also known as the deferred sales charge or DSC), you are entitled to cash in a portion of the fund every year without triggering the sales charge. However, if you don’t use it many mutual fund companies will not let you carry it over.
If you want to take [...]

Read the full article →

← Previous Entries

Next Entries →