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Executor Tips

Posted on September 26, 2017 by

Some interesting facts about being an executor coming up… Not a lot moves forward without original copies of the will or death certificate. Make sure you have your affairs in order ahead of time.

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Teacher Supply Tax Credit

Posted on October 14, 2016 by

Budget 2016 proposes to introduce a teacher and early childhood educator school supply tax credit for 2016 and subsequent taxation years. This measure will allow an employee who is an eligible educator to claim a 15% refundable tax credit based … Continue reading →

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Family Tax Cut

Posted on March 5, 2015 by

Available to claim on your 2014 tax return, the Family Tax Cut will provide up to $2,000 in tax relief for couples with children under the age of 18. This initiative allows a higher income spouse to effectively transfer up … Continue reading →

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Corporate Owned Life Insurance

Posted on February 2, 2013 by

A corporation may own life insurance to: -fund a buy/sell agreement -as collateral for a loan -to cover the loss of a key employee -paying tax at death -to cover losses incurred as a result of a key employee or … Continue reading →

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IRA Basics

Posted on January 22, 2013 by

IRA – U.S. “Individual Retirement Account” opened on your own vs a 401K opened by your employer. Traditional IRA – Deductible from your income on your tax return under certain conditions if your age is less than 70 1/2. Roth … Continue reading →

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2012 Family Caregiver Amount

Posted on January 22, 2013 by

New for 2012 Canada Revenue Agency has announce the Family Caregiver Amount. It is a 15 per cent non-refundable tax credit on an amount of $2,000 that provides tax relief to caregivers of infirm dependant relatives. This includes, for the … Continue reading →

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April 1, 2013 Reinstatement of BC PST

Posted on January 22, 2013 by

The British Columbia provincial sales tax (PST) is returning on April 1, 2013. Remember to apply for a new PST number even if you were registered prior to BC HST. Most of the old regulations apply. Go to gov.bc.ca/etaxbc/register online. … Continue reading →

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Shared Custody – Eligible Dependent, Child Amount and Childcare Expenses

Posted on September 19, 2011 by

In shared custody situations each parent can claim one eligible dependent amount and one child amount non-refundable tax credit.   Therefore one child each year per parent.  If they can’t agree who takes which child then nobody gets the deductions.  The … Continue reading →

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Apprentice Tax Tips – Employers and Employees

Posted on September 19, 2011 by

Apprentice Tax Tips for Employers and Employees Continue reading →

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US Citizen living in Canada or abroad tax implications

Posted on August 17, 2011 by

As a US Citizen residing in Canada or another foreign country you may not be aware of the US IRS tax implications you face.  You are required to report your personal world wide income on your US personal 1040 tax … Continue reading →

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