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tax credits

Taxes

Choosing The Right Professionals To Help With Disability Tax Credits

For most people who live with a disability, finding ways to save a bit of money is a top concern. There are so many different ways that a person will be able to get the right savings in place, but it will take some work. The government has special provisions and tax credits that can help a disabled person get some money back at the end of the year. Finding a professional, like www.tnds.ca, will help a disabled person get the help they need to get these credits. Here are some of the things that a disabled person will need to find in a professional to help with their tax credits.

They Need a Lot of Experience

The first thing that a person will need to look for in a professional is the level of experience they have to offer. Finding the right professionals is a time-consuming process and will require a person to do some homework. Ideally, finding a person that has been in the business for a number of years can be very beneficial in a case like this. The more experience that a person has in this line of work, the easier it will be to get the right results in regards to the tax credit.

November 10, 2015

Taxes

Are You Taking Advantage Of Your Provincial Tax Credits?

Did you know that each province and territory in Canada has tax credits that can help Canadians to reduce their provincial income taxes each year? Unfortunately, many people are unaware of the tax credits available to them, and sadly, the ones who do their own taxes but are unaware, are the ones who lose out. Even if you hire a tax professional to file your taxes for you every year, it is still good for you to be aware of what is available to you.

How can I find out what tax credits are available?

If you want to know what specific tax credits are available to you in your specific province or territory, simply go to the Canada Revenue Agency (CRA) website, and check out the section entitled Provincial and Territorial Tax and Credits For Individuals.

October 10, 2012

Taxes

Tax Tips For Families With Children

Claim the kids: Families will continue to benefit from a $2,131 Child Tax Credit for each child under the age of 18. This will result in a federal tax saving of $320 per child. And if one parent cannot use the entire amount to lower their tax payable, the unused amount can be transferred to a spouse or common-law partner.

March 23, 2012

Money Saving Tips, Taxes

New Credits To Use On Your 2011 Tax Return

Children’s Art Credit: Enrolling children younger than 16 in artistic, cultural, recreational or development programs means parents can
claim up to $500 in registration or membership fees with the new Children’s Art Credit. This includes activities like scouting, painting, pottery and tutoring. It means about $75 in tax savings. And you can still claim the Children’s Fitness Credit for programs involving physical activity.

Examination fees: If you pay fees to take an examination that is required to obtain a professional status or to practice a profession or
trade, you can now claim them as tuition if the fees are more than $100.

Students studying abroad: Instead of having to study for 13 consecutive weeks outside of Canada, you can now study for only three
straight weeks and qualify for a tuition credit as well as the education and textbook tax credits.

March 9, 2012

Taxes

Tax Tips For Parents With Students

Only students receive tuition receipts: Even if you paid the tuition, colleges and universities issue the T2202A Form to the student. The T2202A Form allows a student to claim tuition as well as the education and textbook credits.

September 12, 2011

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