Watch Before Filing Your Taxes! (Maximize Refund / Minimize Time!)



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CONSIDER DONATE TO UKRAINE HERE:

Canada Ukraine Foundation: https://www.cufoundation.ca/
Red Cross Canada: https://www.redcross.ca/donate/appeal/donate-to-the-ukraine-humanitarian-crisis-appeal#9cfdcd2b-85a7-4899-ada2-f8bdae8d0939

Now that RRSP season is over it is time for tax filing season! In this video we are going dive into things you want to keep in mind to maximize your return or minimize your time so you save money with your accountant. In here we are going to talk about everything from employee to self-employed to being an investor. Hopefully this video can give you something to get more return or minimize your tax filing headache and be more prepared in case of audit!

This is not financial advice!

#canada #tax #finance

▼ Time Stamps

[0:00] Start
[0:05] PSA: Ukraine Crisis & Donation
[1:41] Free Tax Filing Software / Tools
[2:10] (Employee) Method 1 - Temporary Flat Rate Method
[2:57] (Employee) Method 2 - Detailed Method
[3:22] Detailed Method - Things to Watch Out For
[6:39] Form T777 For Hardware / Tool Expense
[7:24] (Self Employed) Tax Filing Dates / Payment
[8:53] (Self Employed) Part 1: Keeping Record
[10:29] (Self Employed) Part 2: Organizing Expense
[11:55] (Self Employed) Resource Arrangement
[12:45] (Self Employed) Claiming CCA on Principal Home
[13:04] (Investor) Interest Expense
[14:01] (Investor) HELOC Sub Accounts
[14:49] (Investor) Claiming CCA on Rental Homes
[15:45] (Investor) Capital Gain / Loss
[16:37] RRSP Contribution Post 71
[17:33] Donation Credit



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▼ Useful links!

Employee WFH Expense To Claim: https://www.canada.ca/en/revenue-agency/services/tax/individuals/topics/about-your-tax-return/tax-return/completing-a-tax-return/deductions-credits-expenses/line-22900-other-employment-expenses/work-space-home-expenses/expenses-can-claim.html


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▼ Books / Tools I recommend

https://www.jackykuk.com/tools


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