5 Smart Ways You Can Utilize Your Tax Refund
Aug21

5 Smart Ways You Can Utilize Your Tax Refund

Whether you choose to have your tax refund deposited directly to your bank account or check-mailed to you, that year period where you receive your tax refund can be an exciting one. According to Businessinsider, the minimum tax refund is up to $2,711. Interestingly, repayments might get increased due to the interest being paid by the government as a result of the coronavirus pandemic, which delayed refunds. But before you engage in an...

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Medical Expenses: Tax Return Advice
Oct31

Medical Expenses: Tax Return Advice

There are a lot of expenses that you have the option of claiming on your tax return. Several of the expenses you can claim are associated with medical and dental expenses that you might’ve paid throughout the year. Types of Medical Expenses You Can Claim You can claim a certain amount of expenses on your tax return if you, your common law partner or spouse paid for any amount of medical expenses in 2015 or didn’t claim...

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Tax Deduction Tips for Lawn Care Professionals
Sep13

Tax Deduction Tips for Lawn Care Professionals

As a business owner, you’re out to make money, not let it slip through your fingers. However, what many don’t understand is that there are numerous deductions available for lawn care professionals to take advantage of. Whether you’ve been in business for years or are just starting up, it’s important to take some time to understand the various options available to you to ensure you keep as much money as you can where it belongs- in...

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Get More From Your Tax Return
Mar14

Get More From Your Tax Return

It’s that time of year again. People are receiving their W-2’s in the mail and going through receipts to see what they can get a credit for or get deducted from their taxes. My husband is a business owner and tax time is stressful for him. He has hundreds of receipts to go through to look for anything that can be a deduction, he has to get all of his business paperwork in order, and it just always seems like a huge mess. Even though...

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How to Use Negative Gearing in Property to Pay Less Tax

Negative gearing is an investment strategy designed to reduce the holding costs of your investment property. The word ‘gear’ refers to managing the costs and gains incurred from your investment, which can include property, as well as stocks and shares. In the context of property, gearing generally refers to negative and positive gearing. Positive gearing – relates to borrowing to invest, with the property generating positive income or...

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When Buying Abroad: Property Tax Deductions In Australia

Many investors in Australia have made small fortunes from negative gearing investment properties, a practice where an investor borrows money to acquire an investment property. The net loss can be balanced by other income, effectively lowering the payable tax on proceeds from that investment. Basically, the investor is banking on its gross income to exceed the cost of owning and managing the property. While there’s a degree of risk...

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