My twitter tax tips for this week are listed below. Nothing too fancy there, I like next week’s better. However, I’ve added a couple quick comments to the tips below.
University/College students must print their T2202a tuition forms issued by their school to claim or transfer #tuition credits. #blunttaxtip
Note: University students are notorious for not printing out their T2202a tuition forms and holding up the filing of their parent’s tax returns. These forms are sent by the Universities and Colleges to their student’s portals typically in the next week or two. Please remind, or in my case, harass your kids to print out the form and email it to you.
Ensure your children’s activity receipts are marked paid in full to claim fitness/arts credits. #blunttaxtip
Obtain capital loss, HBP, #RRSP & #TFSA limit info from your online CRA acct. or 2011 tax assessment. #blunttaxtip
Note: It is very important to ensure you have updated carry forward information for your capital losses. You want to ensure you claim the maximum amount of capital losses carryforward against any current year gains.
If you have self-employment or rental income, summarize the income & #expenses now, so you’re not rushed/miss expenses. #blunttaxtip
If you moved to a new work location in 2012 >40km away, gather & summarize your receipts to support the claim. #blunttaxtip http://bit.ly/XEZqmQ
Note: If you moved to a new job this year, it is very important to gather all your receipts for any expenses you incurred and summarize as required by the CRA. See the link above and the form T1-M to understand what expenses are eligible and how the CRA wants these expenses aggregated.
Tips for Week of January 26- February 1,2013
University/College students must print their T2202a tuition forms issued by their school to claim or transfer #tuition credits. #blunttaxtip
Note: University students are notorious for not printing out their T2202a tuition forms and holding up the filing of their parent’s tax returns. These forms are sent by the Universities and Colleges to their student’s portals typically in the next week or two. Please remind, or in my case, harass your kids to print out the form and email it to you.
Ensure your children’s activity receipts are marked paid in full to claim fitness/arts credits. #blunttaxtip
Obtain capital loss, HBP, #RRSP & #TFSA limit info from your online CRA acct. or 2011 tax assessment. #blunttaxtip
Note: It is very important to ensure you have updated carry forward information for your capital losses. You want to ensure you claim the maximum amount of capital losses carryforward against any current year gains.
If you have self-employment or rental income, summarize the income & #expenses now, so you’re not rushed/miss expenses. #blunttaxtip
If you moved to a new work location in 2012 >40km away, gather & summarize your receipts to support the claim. #blunttaxtip http://bit.ly/XEZqmQ
Note: If you moved to a new job this year, it is very important to gather all your receipts for any expenses you incurred and summarize as required by the CRA. See the link above and the form T1-M to understand what expenses are eligible and how the CRA wants these expenses aggregated.
The blogs posted on The Blunt Bean Counter provide
information of a general nature. These posts should not be considered specific advice;
as each reader's personal financial situation is unique and fact specific.
Please contact a professional advisor prior to implementing or acting upon any
of the information contained in one of the blogs.
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