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Do you need an RRSP, RRIF for 2017 tax returns?

You can reduce the amount of income tax you are required to pay by contributing to a Registered Retirement Savings Plan (RRSP.)

Invest for your retirement.

The clock is ticking. You have 60 days from the beginning of each year to make your contribution. This year’s deadline is March 1, 2018.

What is a Registered Retirement Savings Plan?

RRSP contributions are deducted from your earned income to reduce or defer any taxes payable.

There is a limit to the amount you can contribute based on your earned income in previous years. If you don’t use your full deduction limit, it accumulates and is carried forward until used. (More information Registered Retirement Savings Plan)

Do you have a company pension plan?

A Registered Pension Plan is a pension plan set up by your company, which has a contribution limit of $3,500 yearly.  You and your employer both contribute to increase the amount of your retirement pension.

Like, RRSPs, the contributions you make to your Registered Pension Plan help to reduce or defer your income taxes.

When your benefits increase, you can also make additional contributions for past service (between 1989-1996) in order to top up your pension.

Your total pension credits are called the Pension Adjustments.  If you work for more than one employer during the year you will add the total reports by each employer on your T4 and T4A slips.  The pension adjustment affects the total amount of contributions you can make to your self-directed registered pension for the following year.

Need help? Leave the calculations to us!

We can help determine the maximum amount of RRSP contributions you can make this year and help you avoid contribution penalties.

You will need to bring your prior year pay stubs and any investments recorded.

Keep in mind that your financial institutional will be very busy in the last weeks of February so get your RRSP slip early.

For more information – or to get your tax return done for you – contact Ina.

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Season Greetings 2017

We like to take this opportunity to wish you all the best this holiday season.

 

We will be back on January 10, 2017, to help you with your tax returns.

How to sign-up “Tax Returns”?

Are you a new client if you want to get started  *Simply fill out this form:   Representative Request Form , so we can get started in preparing your taxes.

All prior years are 2007 to 2018, we will arrange a meeting to pick-up the paperwork.

Let us help – New Year 2018

We can help you in the new year, bookkeeping, payroll or tax return(s).

To learn more about our services please CONTACT US or call 604 314-8395.

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Incurring expenses for Salary/Commissions or Truck Drivers?

Need Help! Having troubles calculating your tax return for employment expenses?

This is about hiring employees who are on salary, commissions which require expenses as part of employment conditions.

As an employer in the business of selling or transporting goods and/or services that hire employees on salary/ commissions or truck drivers.

Tax Deductions

Are you a licensed real estate agent, sales person on a salary/commission or truck driver? [Read more…]

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We Remember and Observe this day.

Copyright: ghenadie / 123RF Stock Photo

Did you know that Remembrance Day is known as Armistice Day – war cease fire in 1918?

In Flanders Field “is where the poppies grow row on row” to remember the fallen the poppies are worn and to help those who have returned from World War I – commemorated by other countries. (by John McCrae, Canadian Doctor)

The official observance day adopted in 1932 to become Remembrance Day.

It is celebrated on the 11 November by 2 minutes of silence at 11:00 am to remember the fallen.

Looking forward for the gathering for the turkey dinner, pumpkin pie and the gathering for friends and family.  It’s to remember and observe this day by 2 minutes silence.

Remembrance Day is a statutory holiday pay?

As a statutory holiday, there are a few things you need to know in terms of your payroll accounting.

Employees are eligible for statutory holiday pay if they have worked

  • full time for the past 30 days
  • part time for 15 days in the last 30

Alternately, they can work the holiday and receive another day off with pay, this falls on a Saturday.  There are different rules if your employees are paid by commission – you can find further information about payroll services.

These rules apply to the province of British Columbia,  is regulated by federal and provinces, not in this article.

For other provinces you can contacts us.

Let US! Help You with bookkeeping, payroll or taxes.

NEED HELP?  On bookkeeping services or sign up for tax services.

 

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Need Help “Filing Tax Returns”? Professional Tax Services

How to sign-up “Tax Returns”?

Not sure how to complete your tax return?

You can hire us to look after the tax returns, bookkeeping or payroll.

We review your taxes situation with you, so that you know:

  • What deductions to claim?
  • When to use tax shelters?

We can complete your current or past years tax return if you have not file tax returns in the last 10 years. We help you to qualify for deductions or tax credits so you pay less taxes or get a larger refund.

*New client if you want to get started *Simply fill out this form:  Representative Request Form , so we can get started in preparing your taxes.

We can do your taxes returns for 2013, 2014, 2015, 2016 and all prior years. [Read more…]

HOURS

  • Monday to Thursday 10 a.m. to 8 p.m.
  • Saturday 12 noon to 5 p.m.
  • Open on Sundays during tax season

 

Contact Us

Box 51362 Cameron Rd PO
Burnaby, BC V3J 0C9
Phone: (604) 314-8395

Email: Click here

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