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That initial job can also serve as an ideal springboard to talk money management with your kids and help strengthen their financial knowledge.
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While the extension is good news for anybody who might have left their tax filing to the last minute, it demonstrates that mistakes can happen fairly easily. If the almighty taxman can miss updating a date on a memo then it's completely fathomable that we might make a few errors when it comes to our taxes. But tax mistakes can be costly.
The Conservative budget's failure to initiate a process of comprehensive tax reform is a missed opportunity to lift Canada's prospects for long-term prosperity and growth. Tax reform and simplification would improve Canada's international competitiveness, productivity and economic growth, from both a personal and corporate perspective.
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The Ontario Ministry of Environment and Climate Change is throwing the net wider and wider in its ever-growing attempts to assure that someone pays for contaminated sites, whether innocent or not. And it is having considerable success.
1,000,000 people in Quebec don't file their taxes every year. If each of those people owe taxes of... I don't know... let's say $624 each (an extremely low estimate given that the average amount of taxes paid by a Quebecer is around $10,000), then I'd say an investment of $600k in "FILE YOUR TAXES" billboards, print and TV ads might have helped us to avoid this huge debt hole.
When dealing with advisors, an important consideration is competency. If the person you're working with isn't competent, how much is it costing you? I might find that my client's banker is overcharging them or their accountant is less than adequate, only to hear them say that they can't move their business because the person they deal with is nice or maybe even a friend.
Automated software can only take you so far. Your business is unique -- when it comes to finding maximum deductions or handling complicated questions about your transactions, for example, there is no one-size-fits-all answer. A professional will apply solutions that fit your business to a tee, something technology just can't do.