9 Questions to Ask your Tax Preparer

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It’s April 15th and about the time that everyone is thinking about personal taxes.  Although at AIS, we no longer prepare tax returns, personal or corporate, because we are in the accounting and bookkeeping field, we are often asked for a recommendation or a referral.

Having completed tax returns for many years, I can tell you that I’ve seen everything.  Too many deductions, not enough deductions, and everything in between.

At the end of ...

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Tax Tip #5 – First Time Home Buyer’s Credit

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First-time-home-buyers-tax-creditAnd the series of Tax Tips continues…this week’s information will be helpful to those individuals who purchased a home for the first time.  This tax credit was introduced in 2009 and is completely independent from the Home Buyer’s Loan program by CRA.

If you are a first-time homebuyer, a person with a disability, or an individual buying a home on behalf of a related ...

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Tax Tip #4 – Change in Allowable Medical Expenses

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Tax Tip #4 in our Series of Tax Tips….

Medical Benifit Tax Changes in OntarioA new change came into place in 2010 which affects the medical and dental expenses which can now be claimed for tax purposes. Medical or dental services or related expenses which are provided for purely cosmetic purposes are no longer eligible medical expenses for purposes of the medical expense tax credit, unless the services are necessary ...

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Tax Tip #3 – Charitable Donations

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charitable donationsHere is the next tip in our series of Tax Tips.

There is usually an added benefit if payments for charitable donations for two years are grouped into one year. This is due to the fact that the first $200 of donations is eligible for a 15% federal non-refundable credit in 2010 while the excess over $200 is eligible for a 29% credit. ...

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