Serving Durham Region for all accounting services. Contact our office for Tax Preparation, Bookkeeping, Money Management, Payroll or Advisory Services.
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TAX TIP - CHILDREN'S ARTS AMOUNT You can claim to a maximum of $500 per child the fees paid in 2014 relating to the cost of registration or membership for your or your spouse's or common-law partner's child in a prescribed program of artistic, cultural, recreational, or developmental activity
Income tax time is just around the corner! Make sure you get all deductions to which you're entitled. Send us a message if you have any questions about income taxes and deductions. We'd be more than happy to help!
TAX TIP - PUBLIC TRANSIT AMOUNT You can claim cost of monthly public transit passes or passes of longer duration such as an annual pass for travel within Canada on public transit for 2014.
TAX TIP - ANNUAL UNION, PROFESSIONAL, OR LIKE DUES You can claim the following amounts related to your employment that you paid (or that were paid for you and included in your income) in the year: - Annual dues for membership in a trade union or an association of public servants; - Professional board dues required under provincial or territorial law; - Professional or malpractice liability insurance premiums or professional membership dues required to keep a professional status recognized by law; and - Parity or advisory committee (or similar body) dues required under provincial or territorial law. Annual membership dues do not include initiation fees, licences, special assessments, or charges for anything other than the organization's ordinary operating costs. You cannot claim charges for pension plans as membership dues, even if your receipts show them as dues. The amount shown in box 44 of your T4 slips, or on your receipts, includes any GST/HST you paid.
TAX TIP - CHILDREN'S FITNESS AMOUNT You can claim to a maximum of $1,000 per child the fees paid in 2014 relating to the cost of registration or membership for your or your spouse's or common-law partner's child in a prescribed program of physical activity.
TAX TIP - EMPLOYED TRADSPERSONS You may be able to deduct the cost of eligible tools you bought in 2014 to earn employment income as a tradesperson and as an eligible apprentice mechanic. This cost includes any GST, and provincial sales tax (PST), or HST you paid. If you have any questions in regards to income taxes or tax credits, feel free to ask.
TAX TIP - HOME BUYERS' AMOUNT You can claim an amount of $5,000 for the purchase of a qualifying home acquired in 2014, if both of the following apply: you or your spouse or common-law partner acquired a qualifying home; and you did not live in another home owned by you or your spouse or common-law partner in the year of acquisition or in any of the four preceding years (first-time home buyer). If you have any questions regards income taxes or credits, feel free to ask. I'm more than happy to help!
The deadline to file your taxes is fast approaching. Contact our office today to schedule a pick up and get your taxes done on time!