Back to School Tax Breaks

Like tax season, back-to-school season rolls around annually with certainty. But in today’s inflationary environment, the start-up costs for getting the family organizing for the school year may seem daunting. The good news is that tax and financial advisors can help clients understand their tax planning options and manage all the receipts that can lead to tax breaks later in the spring during tax filing time. Here’s a primer of topics you may wish to discuss:

This month teachers return to the classroom to plot strategies and activities for the new school year, decorate the walls and devise new science experiments.

It’s back to school time and families are spending money getting ready for the big day; registration for sports activities seems to be more expensive that ever; and now this: you find you owe money to CRA!

A big high-five to all the outstanding Canadians who made us proud in Rio! Their Olympic renown can now take many of them on the journey from amateur to professional status.

A new tax form has been released this summer, giving clients the ability to authorize CRA to reach into their bank account to pay a balance due. The new Form T1-83 for tax year 2016 was released online in the heart of the summer, on July 22, 2016, and it became available for print on August 3.

SOCHI, Russia. “Canada captured a historic fourth Olympic gold medal in women’s hockey Thursday with a 3-2 overtime win over the United States in a thrilling championship final.”

Knowledge Bureau is proud to announce the continued support of Intuit at the Distinguished Advisor Workshops in 2016/2017.