Tax time is here. How are you getting prepared? It is time to start to really think about how you will be ready and leave enough time for yourself or your accountant to get the work done.
Here are a few simple tips for tax time
1. Start planning now. Sort and have your documentation ready to go in advance
2. Think about all the documents you will need. A quick call to your accountant to double check all the forms and info needed will help you plan.
3. Have a list of your expenses. Separate them out by category if you haven't already done so. Total the list and have them ready to go.
4. If you haven't totaled your expenses all year round, start now for next year. Every month sit down for a few minutes and group, total and organize your expenses.
5. Know your limits of online filing programs or tax software. If your taxes are complicated know when to call in a professional.
6. Eliminate your tax stress by keeping on top of your documents all year around. Come Filing deadlines you and your accountant will thank you.
Generally, your return for 2012 has to be filed on or before April 30, 2013.
For information and deadlines visit http://www.cra-arc.gc.ca/tx/ndvdls/tpcs/ll-dts/frms-eng.html