Late Filing Penalties: Talk About It!

While most T1 returns are in the hands of the Canada Revenue Agency (CRA) by April 30, we know many are not. In fact, millions of returns were still outstanding as of mid-May. Late-filing clients they need to know about the consequences, especially if they owe. Here’s a rundown to be aware of:

This is the first year I am required to withdraw some money from my RRIF account. However, that amount along with CPP and OAS will bump me up to almost $90K. I am probably not eligible to contribute to my spouse's RRSP, so are there any other ways to reduce my tax burden to CRA? 

Professional tax advisors should now be familiar with new EFILE procedures for 2014, which will begin on February 10, 2014. 

December 15 is just around the corner and that’s the time seniors and others who do not have tax deducted at source make their final quarterly tax instalment remittances.

Start your studies for Tax and RRSP Season for only $99/month, take up to 6 months to complete, and have full access to EverGreen Explanatory Notes – the perfect tool to get the answers your clients need!

On November 28, 2013, Knowledge Bureau and Catherine Bell formally launched her second book, Empower Your Presence – How to Build True Wealth with Your Personal Brand and Image, at St. Lawrence college, Kingston, Ontario.

The 2014 tax season is just around the corner and you need your team sharp and ready to go. Get your team in shape at Personal Tax Bootcamp this January. Enrol by December 15 for best tuition prices.