If you’re looking to get the most out of your tax refund this year, you should be discussing the changes in your life with your accountant. Yes, a large portion of your personal tax return is derived from the information contained on your T4, T5, T3, and other tax slips you are issued in the mail. What drives the majority of the deductions on your return however, are the events that happen in your life throughout the year.
Did you have a child? Did you go back to school? Did you move to accept a new job? These are all questions that your accountant should be asking. If your answer to any of those questions is yes, there may be tax credits or deductions available that can help get you get a bigger refund or reduce your taxes that would be otherwise payable this tax season.
There is a general perception that tax season has to be an overwhelming and stressful experience. This shouldn’t be the case – making the most of tax season should be as simple as a discussion with your accountant about the key changes and events that happened in your life over the past year.
If you’re looking for help preparing your personal tax return this year, the team at Armstrong Jones LLP is happy to take the time to sit down with you and understand the changes in your life.
Contact us online or call us at 613-695-9087 to discuss your individual situation with us, so that you can get the most out of your refund this tax season.
