More about Taxes - March 2023 Tax and Money Tips

Photo by Amol Tyagi on Unsplash

Updates for March:
- Did you know that the CRA Union may be going on strike? HERE is a statement from the Treasury Board of Canada Secretariat. If you will be needing your tax returns for any reason (for example, to get a mortgage approval), I recommend that you file as soon as you have ALL your information complete.

- As usual, there are tax updates this year, so I have created a checklist (TS2023 - Tax Season 2023) to help me claim tax credits and deductions for my clients. Contact me with your email if you would like a copy. If you would like me to prepare your tax return, I can send you the checklist along with other forms in a fillable format. Please return the forms to me at your earliest convenience.

Ok, on to the newsletter. We are in the middle of tax season now. If you would like me to prepare your taxes, please let me know and inform me when you are able to provide your complete data.

Before we get to the tax tips, let's check in on the one goal that you set for 2023 back in January. How is it going? Let me know - send me an email or message me via social media. :) For me, my goal was to make a post related to money/taxes on my social media every Wednesday and Saturday. I think I have done it the majority of the time, with a few misses. :) There probably won’t be many social media posts in the next 2 months because I’ll be using the time to sleep. :)

Anyhow, here are my 3 Tax and Money Tips for you this month.

1. As a tax preparer, it would help me tremendously if you provide ALL your information at the same time instead of little by little over a period of time. I may be able to finish your return in one sitting if I have all the information. This saves both of us time and money. If I have to re-visit your return multiple times, it will take me time to think about what was done and what else needs to be done. So, pool your receipts and documents together before submission. It will help both of us. :)  

2. Do you have questions about filing as a business for the first time? HERE is information from Canada Revenue Agency's website.
3. Remember that the general tax deadline is April 30th. However, since April 30, 2023 falls on a Sunday, the deadline is extended to May 1, 2023. If you or your spouse is self-employed, your tax filing deadline is June 15, 2023, but any tax owing should be paid by May 1, 2023 to avoid interest. 

As a reminder, my Tax Preparation service is:
- Full service: You provide your data to me, I do your taxes for you.
- Review service: You prepare your taxes, I review it before you submit your return.
- Tutoring service: I teach you how to do your taxes. This service is not available in March and April.
Fee starts from $85/return and it includes 20 minutes of assistance if you are assessed by CRA (Canada Revenue Agency).


Visit my blog page or follow me  on LinkedIn, IG, FB, Twitter for more money and tax tips.
​If you need help with your taxes, have you made an appointment to file your taxes?