ReplyDoing some work over the Holiday season can reap rewards for 2012While most of us prefer to eat, drink and be Merry this time of year, it may be helpful to do a little tax planning to ensure 2012 emerges positively from a personal tax perspective. Here are a few ideas that can help:Make Charitable donationsTo be claimed on your 2011 tax return, all charitable donations must be made by December 31. The first $200 in donations receives a 21% combined federal and Ontario tax credit. Donations over $200 receive a 40% credit. If you have a spouse, donations can be pooled to maximize this credit.Make Political contributionsPolitical contributions also have to be made by December 31 to be claimed on your 2011 tax return.
At Tax Partners, we work closely with our clients to understand their specific needs and adjust our strategies accordingly. Our partners and accountants take a proactive, hands-on approach for you. We know that many clients' business and personal taxes are intertwined and our accountants offer the integration of both services to help further drive efficiencies.
Ledgers Professional in Newmarket is Matt Singh, CPA RPAMatt is a Certified Public Accountant from the State of Michigan and a Registered Professional Accountant in Ontario. Matt served as Tax Manager for a multi national franchisor and as Assistant Controller for a major real estate developer. He has been consulting with small and medium sized businesses for the past fifteen years. His experience includes settling tax disputes up to the Tax Court of Canada and providing management consulting, tax planning, and business performance analysis for small and medium sized businesses. Matt believes too many business owners spend time working in their businesses instead of managing their businesses profitably. Matt graduated from Lawrence Technological University in Michigan with a Bachelors Degree in Accounting and Finance.
We are a technology-friendly bookkeeping practice that strives to be as paperless as possible. Through cloud-based applications, we work with clients to reduce data entry as much as possible.