Tax Tip: Group Medical and Medical Expenses

If you are a member of a group medical insurance plan and you pay all or a portion of the premium through payroll deductions, those premiums may qualify as medical expenses for the medical expense tax credit. Other commonly overlooked medical expenses include: Co-payments or non-reimbursed portions of medical expenses Dental bills Certain attendant care expenses for persons with disabilities…

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The Benefits Of A Holding Company

If you carry on a business as a corporation you may want to consider using a holding company to own your operating company. The holding company structure offers tax deferral opportunities and can help insulate your accumulated wealth from creditors or be used to avoid the U.S. estate tax. The Basics of A HoldCo In its basic format, a holding…

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2012 RRSP Deadline

I`ve noticed a few websites have been writing that the RRSP deadline is March 1st.┬áThe Income Tax Act allows you to deduct RRSP contributions made in the first 60 days of the year following the tax year. Since 2012 is a leap year, the last day to contribute to your RRSP and claim the deduction on your 2011 income tax…

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