Finance
Preparing taxes for someone who died – MoneySense
[ad_1] Contacting the CRA You should contact the government as soon as possible. This includes steps like cancelling a provincial health card, driver’s license,…
Tag: tax return
Finance
Ontario Trillium Benefit payment dates in 2026, and more about the OTB – MoneySense
[ad_1] What is the Ontario Trillium Benefit? The OTB is the combined payment of three provincial benefits for Ontario residents. You need to be…
Finance
Late filers: Get your back taxes sorted before year-end – MoneySense
[ad_1] Consider the following: The backdrop. Under the Income Tax Act, the normal reassessment period is three years from the date the notice of assessment…
Business
The IRS Is Facing a Huge Backlog After the Government Shutdown. What It Means for Businesses
[ad_1] The U.S. government is getting back up to speed after the longest government shutdown in history. Airports have resumed their full schedules, which…
Finance
How to report foreign income in Canada – MoneySense
[ad_1] This form is typically used for foreign bank accounts, foreign investment accounts or foreign rental properties, but it can include other foreign assets.…
Finance
Capital gains tax when renting out your former principal residence – MoneySense
[ad_1] According to the Canada Revenue Agency (CRA): “To make this election, attach a letter signed by you to your income tax and benefit…
Boston, Massachusetts Local News
Report: Mass. taxpayer exodus continues
[ad_1] BOSTON — Massachusetts lost more than $3.8 billion in state-adjusted gross income between 2021 and 2022 as residents fled to New Hampshire, Florida…
Finance
When are costs for a U.S. property tax-deductible in Canada? – MoneySense
[ad_1] It sounds like you sold or are planning to sell a property in the U.S., Bob. To cut to the chase, selling costs,…
Finance
Can you transfer a RRIF to a TFSA—and what are the tax implications? – MoneySense
[ad_1] Can you transfer a RRIF to a TFSA? A RRIF is a tax-deferred account. A TFSA is a tax-free account. So, you cannot…
Finance
How to change a past tax return – MoneySense
[ad_1] According to the Canada Revenue Agency (CRA), two types of fees are eligible to deduct: “fees to manage or take care of your…
Finance
“Where do we pay income tax if we retire abroad?” – MoneySense
[ad_1] In the case of Mexico, Marianna, a taxpayer is considered a resident of Mexico if they have a permanent home available to them…
Finance
What new bare trust tax filing rules mean for Canadians – MoneySense
[ad_1] What is a bare trust? The Income Tax Act does not specifically define a bare trust, Chander. The Canada Revenue Agency (CRA) says:…
US News
New IRS Direct File program now available in California
[ad_1] If you’re a California resident and haven’t done your federal tax return for 2023, you now have another, more user-friendly option online: the…
Finance
Top financial innovations of the last 25 years – MoneySense
[ad_1] 17. 2011: Google released Google Wallet in the U.S., three years before Apple Pay even popped up on our iPhones. Over the next…
Finance
Work-from-home tax credit: What Canadians can claim for 2023 – MoneySense
[ad_1] A tax deduction is often better than a tax credit because it reduces your taxable income. When you decrease your taxable income, you…
Finance
Can you save on taxes by owning an investment account with your child? – MoneySense
[ad_1] When you give cash or assets to a family member to invest, there may be attribution of that income back to you. Attribution…
Los Angeles, California Local News
New year, new way to file your tax return for free: The IRS launches Direct File pilot program
[ad_1] It’s back to regular IRS deadlines for California taxpayers this year, but with a new tool for many low- and moderate-income households: a…
Finance
Should Canadians keep their investment accounts when retiring abroad? – MoneySense
[ad_1] Should Canadian non-residents keep their TFSAs? Tax-free savings accounts (TFSAs) can remain tax-free for a non-resident of Canada—at least from a Canadian perspective.…
Finance
How are bonuses taxed in Canada? – MoneySense
[ad_1] Maybe that money is already spoken for. Many Canadians are struggling financially right now, so a bonus or salary increase might simply help…
Finance
2022 Income Tax Guide for Canadians: Deadlines, tax tips and more – MoneySense
[ad_1] Return to top. Prepping your taxes, including the 2022 tax brackets Even if someone else does your taxes, you still have some prep…