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Have you considered these tax strategies?? Lisa Patrick

When you are looking for a strategy regarding your personal and corporate income taxes these are some things you may want to consider:

1.      Have your company buy you your RRSPs?   Money taken and deducted on your personal income would mean no tax consequence to you personally.

2.      Have your company pay your children’s tuition for college or university or trade school?   Tax on the Money can be avoided to the children in the event they do not attend the educational program for that year.

3.      Have your company pay you rent to use your personal items and less wages?   This will avoid CPP premium cost.

4.      Have you considered talking to your tax accountant before your company year end?

It is never too late to explore a possibility but take advantage of them this year!

 Call your accountant or contact us to learn more about income tax deductions and corporate tax strategies.

Darlene Lafond R.P.A.


Up to 10 years to change your tax return Lisa Patrick
You have up to 10 years under fairness to taxpayers to file a change to your tax return.  The government may only change your tax return for up to 3 years unless they find an illegal action.
 
Preparing a letter detailing what you need changed is simple.  Prepare the financial information with the new information and if possible include details on what you had initially claimed.
 
The government does provide a form called T1adj that may be downloaded from their website. http://www.cra.gc.ca

If you have any questions or are afraid to contact them directly, contact us and let us help you.

Darlene Lafond R.P.A.


Beware Tax Notice from The Government Lisa Patrick
Whether you read or refer to your tax accountant, do take a second look at the letter even if it looks like a form letter. The sooner you respond to the government requests, the easier it is to deal with them. If, the person you talk to does not treat you the way you expect to be treated – ask for another representative or a supervisor. If this does not provide you what you need, ensure you write a letter Winnipeg Tax Centre 66 stapon Road Winnipeg, Manitoba R3C 3M2 Register it if you like… You do have rights. They cannot treat you unfairly. Darlene Lafond, R.P.A.

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