I focus all my energy on what I can control and don’t stress about the rest.
The new year is approaching and with it, several key deadlines for tax deductions. December 31—which falls on a Saturday this year, so plan accordingly—marks the last day to contribute to certain registered plans and take advantage of certain tax credits.
Many will remember 2011 as a year of economic challenges. Small business owners in particular have had it rough and while they hope for a better year ahead, there are still a few things they can do to end this year on a positive note.
While there is little one can do about the vagaries of the stock market, there is plenty an advisor can do to help clients control how much tax money they fork over to the CRA.
Even though tax returns aren’t due until April 30, December is an important month for tax planning. Here are some important tax planning measures that must be completed before December 30.
While there is little one can do about the vagaries of the stock market, there is plenty an advisor can do to help clients control how much tax money they fork over to the CRA.
Selling some loss-making investments can be a great way to recover some of the capital gains realized in the last three years, says Gary Dent, national tax leader at Grant Thornton.
When buying or selling investments, timing is of the essence, especially towards the tail end of the year when getting the timing wrong can result in an undesirable tax position.
It's that time of the year when advisors want their businesses and individual taxpayer clients to drop everything and turn their focus to year-end tax planning.
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