Taxation in Vancouver

Published on Jun 15 2014 // Taxes
Anyone that is making a salary in Canada is liable to pay taxes to the government as is provided in the law. These taxes are the amounts of money that go into the payment of the civil servants and completion of the government services and projects across the country. Without the taxation system, the...

Today’s accountants do more than tax returns

Published on May 19 2014 // Taxes
Baker Tilly, a leading national provider of accounting and business services, looks at what today’s accountants offer, and how businesses can benefit from seeing them as financial doctors who oversee the general welfare of businesses from birth through to maturity. We always used to think that accountants...

What To Do If You Owe Taxes but Don’t Have the Money to Pay

Published on Apr 11 2014 // Taxes
What To Do If You Owe Taxes but Don’t Have the Money to Pay
Every year, the deadline for Americans to file taxes is April 15th (unless the day falls on a weekend, then the deadline will be extended by a few days).  Yet, year after year many Americans scramble to pay their tax bill.  Even if you file a tax extension online  you are still responsible for paying...

Choosing the Right Vehicle for Your Business

Published on Apr 06 2014 // Business, Taxes
A small business will go to great lengths to save money. Some ambitious entrepreneurs will sell their car and ride a bike to work. In sunny locales, a few have gone the Vespa route and visit the gas station once every few weeks. For a company that relies on cars for delivery or sales routes, thinking...

5 Ways to Make Your Tax Refund Grow

Published on Feb 18 2014 // Taxes
5 Ways to Make Your Tax Refund Grow
It’s tax time.  The time some Americans dread because they have to pay their hard-earned money to the government.  However, 75% of Americans (TIME) look forward to tax time with glee because they’ll be getting back a refund.  Yeah!  Free money. Not really, of course.  Your tax refund...

Home Ownership–Would You Move to a Lower Cost of Living Area?

Published on May 06 2013 // Cost of Living, Mortgage, Taxes
The average age of first time home ownership in the United States in the last 10 years has varied from 30 to 32 years of age, depending on the economy (Economists Outlook).  My guess is that it might also depend on the area of the country people reside in.  Certainly buying a house in rural Iowa is...

How To Spend Your Tax Return

Published on Mar 08 2013 // Taxes
Perhaps you were surprised to find that you would be receiving a gift from Uncle Sam in the form of a hefty tax return. Or maybe you planned it this way all along. So how do you spend your tax return now that you have it? If you’re like most Americans, your first instinct is to take a trip to Vegas,...

Property Tax Vs. Real Estate Tax

Published on Mar 04 2013 // Real Estate, Taxes
Homeowners are familiar with real estate tax largely because real estate tax may take a chunk of their money every year, but did you know that property tax is not always the same thing?  Many people use the terms interchangeably, but they are not exactly the same.  Part of the confusion is because...

IRS Secrets Exposed

Published on Feb 13 2013 // Supporter, Taxes
IRS Secrets Exposed
No one likes to owe the IRS money, in fact many of us will find every loophole possible to avoid having to pay in to the IRS come April 15th.  Maybe this year you weren’t so lucky and the IRS will be looking to collect money you don’t have. In today’s economic climate many of us are cash strapped...

Tax Season 2013

Published on Feb 01 2013 // Taxes
Tax Season 2013
Tax season can be a nightmare even if you have done all the right preparation. The key to avoiding a stressful tax season is to start preparing NOW for the returns when you file taxes next year. Putting simple steps into action and you will get the best return with the least amount of stress that you...

Filing Taxes – Mortgage Insurance Premium Tax Deduction Revived but Set to Expire at the End of This Year

Published on Jan 29 2013 // Housing Market, Insurance, Mortgage, Taxes
At the end of 2012, much to do was made about the Fiscal Cliff and the fact that many of the Bush era tax cuts were set to expire.  However, after some last minute wrangling from our Congress men and women, many of those tax cuts were extended, to the relief of many taxpayers. Many homeowners who were...

Filing Taxes – Retirement Savings Contribution Credit

Published on Jan 20 2013 // Retirement, Taxes
Filing Taxes – Retirement Savings Contribution Credit
Like it or not, tax season is here.  You may be gathering all of your documents in one place in preparation for filing your own taxes or visiting your accountant. However, make sure not to forget the paperwork necessary to receive the Retirement Savings Contribution Credit, now known as the Savers’...

Owing Taxes vs. Receiving a Refund: Which is better?

Published on Jan 11 2013 // Know Your Taxes, Taxes
Owing Taxes vs. Receiving a Refund: Which is better?
It’s probably been argued for as long as they’ve been around: when it comes to taxes, is it better to give than to receive? In an ideal world, it would be easiest if you could just guarantee that you wouldn’t owe any taxes or receive any refund. The personal finance community and most...

Retirement Income Tax Diversification Strategies

Published on Nov 13 2012 // Know Your Taxes, Retirement
Let’s say you save X million dollars in your combined retirement savings plans—you’ll be all ready for that retirement in the tropics you’ve been planning most of your life. Maybe you’ll even be able to work in an early retirement too. You’re on a roll and everything is working according...

Stamp Duty Land Tax – An ever increasing burden

Published on Aug 29 2012 // Taxes
We’re nearing the end of August 2012, and recent reports suggest that house prices have on average fallen again in the last month. A trend that seems to have stretched back over the last 4 years or so, turning the once safe haven for investment, into a struggle to break even. There are a handful of...

Know Your Taxes – Income Tax

Published on Mar 07 2012 // Know Your Taxes, Taxes
United States citizens are responsible to pay a yearly income tax based on their taxable income, which is their net income minus allowable deductions.  Many citizens are responsible for paying national, state and local income tax.  Interestingly, there are several states including Texas, Alaska, Nevada,...

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