 Photo by StellrWeb on Unsplash Happy February! I feel like January just flew by. In case you haven’t heard, the Canada Revenue Agency (CRA) has been in the news a few times since my last newsletter in December.
Here are two of them:
CRA is now preparing its system for the 2025 tax season. Here are some key dates:
One question that I get asked often is how much I charge for preparing a tax return. The answer? It depends. 😅 Simple tax returns cost less than complex ones. I would be happy to do a tax interview with you, then send you a quote. Generally my price includes 30 minutes of assistance if you are assessed by CRA. If you would like to know my process (step-by-step), send me an email and I will send it to you. I would like to keep this bi-monthly newsletter relatively short. I prioritize returning clients. Let me know if there are changes in your tax situation such as getting married, having a baby, moving to a new province, etc. I would appreciate it if you could gather your data as early as possible and let me know as soon as your data is complete. It would be more effective for me to work on your file in one go once all the information is complete, rather than working on your file multiple times as information trickles in. Disclosure: I am not an accountant or a CPA (Chartered Professional Accountant), but a Tax Professional. I have been helping individuals with tax preparation service since 2013. Here are interesting facts that perhaps you know already - Not all accountants are CPA’s. - Not all CPA’s do taxes. - Not all accountants do taxes. I’m not an accountant or a CPA, but I do taxes. 🙂 OK, that’s all for now. Thank you for reading my newsletter. I appreciate your time. Sources: https://www.canada.ca/en/revenue-agency/services/charities-giving/giving-charity-information-donors.html https://www.canada.ca/en/revenue-agency/services/tax/individuals/topics/about-your-tax-return/tax-return/completing-a-tax-return/deductions-credits-expenses/line-34900-donations-gifts.html https://www.canada.ca/en/department-finance/news/2024/06/capital-gains-inclusion-rate.html https://www.canada.ca/en/revenue-agency/news/newsroom/tax-tips/tax-tips-2025/update-cra-administration-proposed-capital-gains-taxation-changes.html https://www.canada.ca/en/revenue-agency/news/newsroom/tax-tips/tax-tips-2025/stress-free-filing-starts-now-here-are-five-easy-ways-help-you-get-ready-for-tax-season.html
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 Photo by Walter Chávez on Unsplash Greetings! Can you believe that we are now in the last month of 2024? Did you accomplish any goals you set for yourself?
Recently I had an opportunity to visit my parents back home. It was a privilege to still have both my parents with me and to have an opportunity to sleep in my childhood home, in a bedroom I used to share with my siblings. Now that I’m a professional dealing with money and taxes, I look at things through different lenses. Here is some interesting money-related information that I learned/ encountered from my two-week trip.
There are so many more money lessons I learned, which apparently are quite universal. If I may summarize: When money is involved, it is usually best when there is a record-keeping and accountability partner(s). Wishing you and your family a very Merry Christmas and a Happy New Year! May you encounter peace and joy from Christ. |
AuthorCommitted to help clients to be literate about their personal financial situations, to reduce their money-related stress, and to help them achieve their financial goals. Archives
February 2025
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