Compiled by an expert team of accountants, 78 Tax Tips For Canadians For Dummies offers practical tax planning strategies. These individual tips offer straightforward advice and insight that will save readers aggravation and money.
Hold on to more of your money and build your wealth with these tax-saving strategies!
You work hard for your income keep more of it in your wallet with this concise, practical guide. Compiled by a group of skilled accounting professionals, these 78 smart strategies offer something for everyone, whether you're an aggressive investor or someone struggling with debt, an employee or self-employed, a student or retiree. With succinct tips explaining just what you need to know for year-round tax-planning, this book is an essential reference that just may save you thousands of dollars!
Get started with the basics understand the different types of taxes, find out how to organize your tax records, and investigate how to handle disagreements with the Canada Revenue Agency
Protect your income use taxable benefits to your advantage, discover which expenses you can deduct, and claim all the credits available to you
Run a tax-smart small business choose the ownership structure that's right for you, maximize your capital cost allowance claim, and realize tax wins through income losses
Reduce the taxes you pay on investments explore tax-efficient investment vehicles, discover the best strategies for income properties, and make the most of capital losses
Claim all the credits available to you and your family ensure that you don't miss a credit and that you claim all acceptable expenses to realize the greatest possible savings
Keep taxes low in retirement find out when to take your CPP/QPP pension, how to manage RRIF withdrawals, and which credits you can claim to reduce your tax burden
Create an estate plan that leaves more for your heirs consider strategies that reduce your estate's exposure to income tax and probate fees
Open the book and find:
What to do if you're missing receipts or slips
How to reduce your tax through charitable donations
The non-taxable benefits you should negotiate for
Home office expenses you can deduct
How to sell your business in a tax-savvy way
Which insurance products can help cut your tax bill
Ways to split your income to pay less tax
How to maximize your childcare and medical expense claims
Apply tax-saving strategies throughout the year
Maximize your deductions and credits
Minimize tax on investment income
Avoid an audit
Brian Quinlan is a partner with Campbell Lawless Professional Corporation.
Suzanne Schultz is a financial planner with RBC Dominion Securities.