About Me

April 30, 2017

Tax Time.

In Canada, the deadline to file taxes is May 1st. Actually, it's April 30th but because this year, that day falls on a Sunday, they move it to the next business date. We filed last week and for the first time in our lives, we used a certified accountant. It was such an easy task to gather up all our documents and take them over. A week later, she called us with the results and then we went in to sign them off and they were sent. We should have our healthy refunds by next week in our bank account.

The reason we have switched to an accountant was because we ended up keeping our old house as an investment and now we are landlords. We were concerned about not doing our taxes right now that they are more complicated. And worried we'd have a big tax bill. Several people who also have rental properties have suggested to us that it's better not to report this income but we could not sleep at night if we did anything "under the table" so we sought out professional advice and are very happy with the end result. She worked her magic and not only do we not have to pay extra taxes but she got us both a healthy refund. Worth the time to visit with her and the fee to pay her to figure it all out. Way less stress. I do have the task today of reviewing my mom's return and pressing send and the same for our youngest son, both of whom asked if I could still do theirs this year. My mom I will continue to do her's for the rest of her life as it's simple. And my son is getting a lesson now on how to do his as he is the last of my kids to not yet do his own. It's time for him to finally learn and I'm happy to guide him so I can have this off my plate.

How was your Tax Season this year?
Did you have to pay or did you get a refund?

No comments: