Don't Forget To Deduct The Cost Of Doing Your Taxes
aliko-aapayrollservices.com - Small businessess from 1 to 80 employees outsource your payroll management to us and let us worry about your payroll processing.
RSS Follow Become a Fan

Delivered by FeedBurner


Recent Posts

Tax changes to expect when you’re expecting
2016 Tax Tips for 2015 Filing Year
From Proprietorship to Corporation - When is the Best Time to Incorporate?
Tax Specialists Brief your Clients About CRA Fraud And E-Mail Scams
Bank of Canada cuts rates again

Most Popular Posts

Help your teenager build credit responsibly
Being an Executor of an Estate
Anti-Aging
Student Line of Credit
Principal Residence Exemption

Categories

aliko nutrition store- isotonix
aliko payroll services
canada revenue news and videos
canadian news
CPP ,OAS RRIF ANNUITY
Cross border Tax
Disability awareness and Benefits for disabled
estate planning
FINANCIAL LITERACY
HEALTH & NUTRITION
Home Car Insurance
Income Splitting Strategies in Retirement
INVESTING
kids and money -set your children up for financial success
life insurance
on line safety tips
online safety tips
PAYROLL
Real Estate - Investments / Retirement
RETIRE HAPPY BLOG
Retirement planning
SAVE YOUR MONEY
Save your money
SERVICE CANADA NEWS
small business planning
Tax Information for Students
tax news
tax planning
tax tips.ca
Tech news
TFSA

Archives

January 2016
July 2015
May 2015
April 2015
February 2015
December 2014
November 2014
September 2014
August 2014
July 2014
June 2014
May 2014
April 2014
March 2014
February 2014
January 2014
December 2013
November 2013
October 2013
September 2013
August 2013
July 2013
June 2013

powered by

MY BLOG

Don't Forget To Deduct The Cost Of Doing Your Taxes

Don't Forget To Deduct The Cost Of Doing Your Taxes
 
 
 
Don't Forget To Deduct The Cost Of Doing Your Taxes
 
 
We might not always remember it, but CRA (Canada Revenue Agency ) that financial planning and tax preparation costs may be deductible if they exceed 2% of your adjusted gross income.
This includes nearly every degree of tax prep: If you pay for tax-preparation software, for legal advice, or for your accountant to prepare your return for you, it could be deductible.
Note that this is only an option if you itemize, meaning you claim deductions for specific expenses incurred throughout the year, rather than claiming one standard deduction dependent on your filing status. Itemizing isn't for everyone, but if you have a more complicated financial situation that includes things like major medical costs, property taxes, or charitable deductions, you may save more money itemizing than by claiming a standard deduction.
The tax-prep deduction may be claimed for the year the preparation fees were paid — so your 2013 return is the time to claim the fees you paid earlier in the year for the preparation of your 2012 taxes. Next year, you can deduct this year's costs.
 
 
 
 
 
 
 

0 Comments to Don't Forget To Deduct The Cost Of Doing Your Taxes :

Comments RSS

Add a Comment

Your Name:
Email Address: (Required)
Website:
Comment:
Make your text bigger, bold, italic and more with HTML tags. We'll show you how.
Post Comment