Medical expenses

Do you live in a community with no pharmacist, and have to travel 40km oneway or more to pickup prescriptions.
Are you claiming a medical claim of a two way trip to pick up those prescriptions…
 
Pharmacist is a provincially licensed medical practitioner in every province in Canada… trips to visit them is a medical service trip.!!!

Claiming interested expenses on your personal taxes

When you claim Interest expense on your personal income taxes, whether it is for investments or business expense;
 You must keep the initial Loan documents and any renewals, the bill of sale or paper work showing purchase, any document used to distribute the proceeds like a cheque or money order, any interest statement that reflects the annual interest paid.

The Documents must reflect the name of the person or company claiming the interest expense.  (If not - try getting a sub agreement indicating the initial named person did borrow the funds for you or your business.)
Keep all the documents including the annual interest statement for 7 years after the loan is paid off.
Keep all the documents safe from fire, flood, etc.

Who to complain to about CRA

Have you been trying to get help from the tax department and are not getting anywhere?? Not sure where to go to next??

CRA's tax department is there to help... and want to provide better service.  If you have contact with or are not obtaining the tax preparation from the government department, you may correspond to the complaint department. THEY DO REPLY PROMPTLY.  We have had great results.

Go to: http://www.cra-arc.gc.ca/E/pbg/tf/rc193/README.html <http://www.cra-arc.gc.ca/E/pbg/tf/rc193/README.html> 

Are you avoiding filing your taxes?

If you have answered yes to either one of these questions... Go for forgiveness from the tax department!!!

Follow these links for the how to: T2054 <http://technorati.com/tag/T2054>
tax free dividends <http://technorati.com/tag/tax%20free%20dividends>

CRA - RC199: Voluntary Disclosure  www.cra-arc.gc.ca/E/pbg/tf/rc199/rc199-fill-07e.pdf  <http://%20www.cra-arc.gc.ca/E/pbg/tf/rc199/rc199-fill-07e.pdf>

Shipment location of the correct Tax Service Office: www.cra-arc.gc.ca/gncy/nvstgtns/prvnc_tx-eng.html <http://www.cra-arc.gc.ca/gncy/nvstgtns/prvnc_tx-eng.html> 

Selling your company – save some tax

Hey, for you corporations out there selling your company’s belongs at a profit of what you paid…usually land and buildings… do not forget to ask your accountant about the capital dividend account T2054!!!  Tax free dividends to the shareholders…