By Noel D’Souza, CFP®
Director, Communications
If the thought of tax season makes you squirm, you’re not alone, but being prepared, filing on time and knowing what you can deduct will help you get the job done with more left over in your pocket.
As usual, this year’s income tax filing deadline is April 30th for most individuals. If you’re self-employed you have until June 15th to file (June 16th this year since the 15th falls on a Sunday), but any amounts owing to Canada Revenue Agency (CRA) are still due by April 30th.
While a couple of months would seem like plenty of time, the natural tendency to put off unpleasant tasks can leave you in a last-minute scramble to find receipts for children’s activities, medical expenses or other deductible expenses. A lot of tax time stress comes from a time crunch that is avoidable.
If you break the process down into manageable chunks, when it comes time to deliver your documents to your accountant or sit down to file from your computer, you will feel calmer and more organized.
Here are 5 tax filing tips to save you time and money:
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