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Monday, January 7, 2013

Is Revenue Canada keeping your money?



We at Duarte & Associates work very hard to make sure that you are getting every dollar refunded from Canada Revenue Agency which belongs to you.  However, we can only operate from the information we are given.   

To help us help you, keep the following tips in mind:

  • Don’t miss out on what could be several hundred dollars, or more, just by trying to save $10.00 or $20.00 on the fee you pay to get your tax return prepared.  Tax Return preparation is like everything else… you get what you pay for!  We do our very best to get you the biggest return possible.  We review your return over & over until we are sure that there are no more funds to be received.  We also, exhaust your options with CRA to the limit, where others will not, because that will cut into their profit margin. We spend time working on your return, where others will just “fill out the form”, and call it finished, without exploring all the possibilities.  We do our very best for you, the client. We like to call it service, a rare commodity these days.
  • Did you know that if you are a business owner, you don’t have to register for a GST number provided that you gross less than $30,000?  However if you do not the government will keep whatever is owed to you, unless you are an incredible bookkeeper and you remember to write that off in your T1 or T2.
  • Don’t be swayed by online tax preparation or do it yourself software.  There are a few companies out there offering, to do your tax return for $20.00 or less.  What they don’t tell you is that once you have entered your credit card information, there are additional charges and if you want cash back there is yet another $80.00+ on top of your fee, plus a percentage of your return.  Really do you need the aggravation and do you really trust a computer to do your taxes and strategize a better return?
  • Most do it yourself software programs are good and certified by the CRA.  But, do you really know enough about the law to get the best return possible, when for an extra $15.00 you can get a professional to do it on your behalf?
  • Another point to remember is that the best time to file your return, if possible, is in the last 2 weeks of February. The reason for this is you can use part, or all, of your return to maximize your RRSP’s interest free by utilizing government money. Call us for details
a Guest Post by Carley Cooper

Thoughts? Questions?  Share in the comment section below, or contact us privately. 

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