Due to our constant attention to changing Canadian personal tax laws, we are able to prepare personal tax returns accurately and efficiently. If you're in the Edmonton area and want help with your upcoming tax return, get in touch with us to see how we can help you.
In addition to offering business guidance, Canwest also provides insight into your personal finances. Here are just a few ways we can apply our extensive knowledge to help you save.
Self employment income may be earned from a business you operate yourself as a sole proprietor or with someone else as a partnership. We follow the Canada Revenue Agency guidelines for sole proprietorships and partnerships to make sure you get the most from your tax filing.
If your spouse has less taxable income than you, consider putting your RRSP annual contribution in their name instead of your own. By doing this, you can allocate up to 100% of your RRSP annual contribution under your spouses name while claiming the contribution as a deduction on your own tax return. The immediate benefit of a spousal RRSP is this tax deduction; however, a spousal RRSP also has long-term benefits. When it comes time to collapse the RRSP, the overall tax deductions will be reduced due to your spouse’s lower tax bracket.
The dream of a secure, comfortable retirement is much easier with a good financial plan. According to Service Canada, the earlier you start planning, the more likely you will be financially prepared for retirement. Let our expertise guide you to a financially secure retirement.