Claiming Medical Expenses: Free Healthcare?
Free Health Care? Did you know that Canadians spend on average more than $1,000 on medical expenses each year? It’s estimated that government programs, via our taxes, cover about 72% of medical expenses, which means that we pay for the rest. Your clients may be over-paying on their taxes because they don’t know about medical expense deductions.Why Should You Attend the Vantage Breakfast Series?
Join us on Thursday, May 9, 2019 from 7:30-9:00 a.m. for the inaugural event in the Vantage Breakfast Series taking place in Toronto, Ontario. Hear four outstanding speakers and earn CE Credits, too . Here’s why IIAC and Knowledge Bureau have collaborated to bring this series to you:
Evolving Professional Advice: Women to Control Billions by 2028
The financial influence of women in the Canadian economy is on the rise and professional tax and financial advisors need to pay attention to better understand how to best help, in the massive accumulation of wealth taking place, according to a March 2019 report by CIBC Capital Markets *.
Special Report: Last Minute Tax Tips
This week’s Knowledge Bureau Report is dedicated to those often-missed and often-audited discretionary deductions and credits that both professionals and taxpayers will want to ensure they’re maximizing on to improve the size of tax refunds and/or reduce family tax bills.
Lucrative Tax Breaks for Families with Children
An often under-claimed and misunderstood tax deduction is the claim for babysitting or child care expenses. Make the claim on auxiliary tax form T778 and generally you will do so on the return of the spouse with the lowest net income. However, there are cases where the higher earner can make the claim. Here are the rules:
10 Eligible, Audit-Proof Moving Expenses to Claim
Taxpayers who moved in 2018 can take advantage of expense claims for lucrative tax breaks when filing their tax returns this year. However, there are some tricky rules that apply to eligible and ineligible moving expenses that must be considered in order to remain audit-proof with the CRA.
Tax Tips: 12 Commonly Missed Medical Expenses
Medical expenses are among the most commonly overlooked tax provisions. Most people have out-of-pocket costs not covered by a medical plan, so It’s important to pay attention to to claim them, as they can be used to reduce taxes payable. Use this checklist of twelve often-missed allowable medical expenses to your benefit, or that of your clients.
