It’s the middle of tax season and there may be some things you miss when filing. Carl Pahapill is a partner at Pahapill and Associates Chartered Accountants and says moving expenses are one of the biggest claims people miss.
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Expenses include things like the commission for the sale of your home or the cost of travel to look for your new home or job. Meantime, baby boomers have a unique perk when it comes to filing taxes. Pahapill says these residents can claim their parents as dependants.
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If you haven’t filed your taxes in a while, Pahapill says the Voluntary Disclosure Program could be of value to you.
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If you’re going to use this program, Pahapill says you should get help from a professional tax accountant. Taxes are due April 30th or June 15th if you’re self employed. Pahapill also suggests using this time to talk with you tax consultant about opportunities to improve your current financial situation in the future.
