For most businesses the T4 season is a stressful one with added responsibilities and tight timelines. This reality is especially true for businesses...
9 Questions to Ask your Tax Preparer
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...
Tax Tip #5 – First Time Home Buyer’s Credit
And 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 […]
Tax Tip #4 – Change in Allowable Medical Expenses
Tax Tip #4 in our Series of Tax Tips…. A 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 […]
Tax Tip #3 – Charitable Donations
Here 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 […]
Tax Tip #2 – RRSP’s – A Business Owner’s Best Friend
The RRSP Deadline for 2010 was March 1st, so if you haven't already contributed, you can't for last year. But this year is a whole other story.......
Tax Tip #1 – Child Fitness Tax Credit in Ontario
In 2010, the Ontario Government introduced a tax credit similar to the Federal Children’s Fitness Credit for children under the age of 16. ...