Here are some great Year-End Tax Tips from your accountants at The Coast Group.
- Develop a TRUSTED relationship with an accountant, investment advisor, banker, and lawyer.
- The only way to build trust is over time. Having a trusted team of advisors can help you save thousands of dollars over your lifetime. From a tax perspective, yes some tax returns are very easy, but we frequently pick up new clients that have managed to miss opportunities in the thousands of dollars. Tax laws are constantly changing and opportunities come and go every year.
- FILE a return – if your income is under your personal credits technically you don’t have to file, but consider filing to get RRSP contribution room, qualify for GST credit, carry forward tuition tax credits, qualify for child tax benefits, etc.
For more great tips, download our easy-to-print 2014 Year End Tax Tips.