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Tax tips as deadline approaches

With your taxes due soon, keep in mind these top tips for a smooth experience. 

Keep your receipts in a safe spot. If you make one-time donations to charities throughout the year, make sure you keep your tax receipts in a safe spot that you remember – either electronically or filed away. This way, you won’t be left scrambling at the April filing deadline last minute.

Get help from a professional. Tax season can be overwhelming, and the last thing you want to do is make a mistake. If you’re confused, don’t be afraid to seek professional help. Many accounting firms will take walk-ins right up until the deadline.

Keep track of donations throughout the year. Be sure to keep track of your gifts if you’ve been donating to multiple charities throughout the year. This way, you know what receipts to look for and can file an accurate and up-to-date return. If you are a monthly donor, charities are required to send you a cumulated tax receipt early in 2019. Be sure you know how to follow up with charities if you haven’t received a receipt.

File on time. Even if you don’t have all the paperwork in order, it’s important to file your taxes on time. It’s better to request an adjustment after the deadline than to miss it.

– News Canada  

Posted: Feb 2, 2019

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