Tips to help you through tax-filing season

The April 30 deadline to get all your T-4s and T-3s in order is fast approaching. Here are some tips to help you avoid the headaches and sail through the process with ease:

Track your donations. If you donate to multiple registered charities throughout the year, including Amnesty International, then you’re eligible to earn a bit of cash back on your annual income tax return. Donating to worthwhile causes, while accruing money in return? Sounds like a win-win. But it’s up to you to keep track of which organizations you help fund. An Excel spreadsheet or a simple list on your phone will help you remember.

Keep your receipts safe and easily accessible. It’s not just about tracking your donations, but you also need the receipts to back up those claims. Start a tax folder in your desk to safely store paper receipts or an email folder for electronic stubs.

Ask a professional. If your taxes are complicated or you find yourself getting stuck, then don’t hesitate to contact an accountant for help. It’s worth the extra cash to avoid making a mistake.

Be on time. You could be dinged if you’re late for tax season. It’s better to file early with missed paperwork, than to pay the costs of filing late. You can always request an adjustment if you discover that something is amiss.

 


 

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