TAX PLANNING
TAX PLANNING
Services
Tax preparation doesn’t have to be stressful.
Tax Preparation
Taxes are complicated. With information always changing, how is anyone supposed to be certain that they are filing correctly? When you come in to see our Tax Experts, you’ll be able to rest at ease knowing that everything is being handled for you.
Personal Tax Returns
Business Tax Returns
As you build your business, you can reach your goals. BG Accounting and Business Solutions offers tax preparation services that will prepare business tax returns for taxable income that also expands into:
- Sole proprietorship
- Self-employed
- Partnership
- Rental property
When hasn’t being a business owner been rewarding?
Taxi, Transportation and Commission Sales
It’s up to you to claim them.
GST Tax Returns
Corporate Tax Returns
Providing you with the best possible service as experts is our priority.
Tax Credit
Are you paying a huge portion of your yearly income to taxes?
Are your savings being negatively impacted by this large amount of tax dollars coming out of your pocket?
If you could learn about the various income tax credits in which you qualify for that could significantly lower your income taxesand keep more money in your pockets, would you take advantage of them?
Here at Blackthorn Bookkeeping, we are here to not only understand the income tax credit and all its applications, but also guide you in developing an excellence strategy to take full advantage of the tax credits available to you.
This is your opportunity to get all your finances organize, as well as get your money back from taxes that you are not required to pay using this tax credit that Blackthorn Bookkeeping will identify you with.
In Today’s Economy…
The global recession has affected the Canadian economy and as a result, the Government of Canada has placed key regulations to help keep the economy performing at high levels.
One of the regulations used by the government is the tax credit. This tax credit is designed to assist Canada’s citizens, such as yourself, to deal with today’s state of business.
There are countless income tax credit opportunities available to you that you may not know about. And since the Canadian income tax credit is changing every day, Blackthorn Bookkeeping is constantly staying up-to-date with these changes in an effort to be the first to inform you of these changes and see how your income tax credit has changed.
Contact us at Blackthorn Bookkeeping and discover how you could put more money back into your pockets using the income tax credit applicable to you.
What Is an Income Tax Credit and How Does it Work?
An income tax credit is an amount that is deducted from your total taxes payable to the government. The higher your income tax credit amount, the lower the amount of income tax you owe. In some cases, you will be able to receive a refund from the government.
Types of Income Tax Credits Available:
- Business Expenses
- Moving Expenses
- Public Transit
- Child Tax Credits
- Sales Tax Credits
- Independent Contractor
- Disability Tax Credits
- Senior Citizen Tax Credits
- Charitable Tax Credits
- Student Tax Credits
Contact us at Blackthorn Bookkeeping and for a free consultation appointment and find out how the income tax credits system can help you.
Feel free to browse Blackthorn Bookkeeping and check out the other business, accounting, and bookkeeping services offered to you.
Bonus: Did you ever hear about the Disability Tax Credit and how it could apply to you? It’s quite surprising to see how many people actually qualify for this tax credit and receive a much larger income tax refund.
Extra Bonus: Discover how to save an even greater amount on your next tax return by deducting much more than you thought. Click here for your seminar: Pay Less Tax; Put More Money in Your Pocket! and unleash your financial freedom sooner than you think.
Student Tax Credit
Student Tax Credits Can Help
Post-secondary education is an invaluable investment, but expenses for students during their time at school can be overwhelming and difficult to alleviate. If you’re bogged down by student fees, there is a variety of Student Tax Credits that canhelp you.
The following outlines the school-related expenses that can contribute to the Student Tax Credit, lowering your taxable income and building a bigger refund from the government.
Tuition and the Educational Amount
- You attend a Canadian university, college or other post-secondary institution
- Your tuition totals more than $100
- You have attended the institution for longer than three weeks
- You received an official tax receipt or a completed form T2202A from your school
In the Student Tax Credit system, if you fit within these guidelines, you are also eligible for what is called the educational amount. This allows full-time students (or part-time students with disabilities) to claim $400 for each month that they attend school, and for part-time students to claim $120 each month.
If you take advantage of the Student Tax Credits listed here, you are already on your way to huge savings!
Textbooks and Other Student Expenses
Student Tax Credits are set up to help you with yet another aspect of your post-secondary experience – purchasing textbooks. As long as you don’t receive grants, reimbursements or benefits that assist you with textbook costs, you can claim$65 for every month you attend your respective post-secondary institution full-time, or $20 for every month that you attend part-time.
Have you changed your place of residence to be closer to your school? For full-time students, as long as you have moved at least 40km closer to your post-secondary institution, you can claim your moving expenses for Student Tax Credits as well! For more information about eligible deductions, please visit our moving expenses page.
Using public transit to get to school? Student Tax Credits also allow you to claim these costs. Take a look at our public transitpage for more information.
All these Student Tax Credits combined adds up to one thing: more money in your pocket!
Interest on Student Loans
Out of school and looking to pay off your debt sooner? Student Tax Credits can help you through this process by permitting you to claim the amount of interest you have paid, provided you are associated with:
- The Canada Student Loans Act
- Canada Student Financial Assistance Act
- Any other similar government laws
Our experienced professionals are willing and able to get you all the Student Tax Credits to which you are entitled, and with minimal cost to you.
Not only can we find all the eligible expenses for the Student Tax Credits that will save you money, but we will also find the most advantageoustime to cash in your Student Tax Credits or to transfer unusable Student Tax Credits to your family members.
Let Blackthorn Bookkeeping reduce your student expenses and responsibilities. Contact us today!
Blackthorn Accounting
Blackthorn Accounting is a full business services organization dedicated to handle bookkeeping, cost accounting and tax preparation for clients throughout the Brampton, Mississauga and GTA areas.
Site Contents
Contact
Tel: 905 789-8827
Fax: 905 790-8826
2120 North Park Drive, Suite 9
Brampton, Ontario, L6S 0C9
Blackthorn Accounting
Blackthorn Accounting is a full business services organization dedicated to handle bookkeeping, cost accounting and tax preparation for clients throughout the Brampton, Mississauga and GTA areas.
Site Contents
Contact
Tel: 905 789-8827
Fax: 905 790-8826
2120 North Park Drive, Suite 9
Brampton, Ontario, L6S 0C9