If you are a property owner, don’t forget to take advantage of valuable tax savings on your 2011 federal return. Mortgage interest paid on both primary and secondary home mortgages may be fully deductible. There are two kinds of home mortgage debt; acquisition debt...
Did you take care of a child or other dependent during the 2011 tax year? If so, you may be eligible for dependent care tax credits. This can add up to valuable savings for your household. So, be sure to take advantage of the full amount allowable. For 2011, you could...
Many people assume that it’s not worth it to file a tax return if no tax is owed. And, technically, you only have to file a tax return if you actually owe tax, or if your earnings are those on which CPP contributions are paid. You also need to pay if you have...
Did you decide to Go Green in 2011? If you made energy savings improvements to your primary residence during the 2011 tax year, you may be eligible to take advantage of tax credits. These credits are designed to help homeowners recover some or all, of the purchase...
North Americans are getting smarter with their tax refunds. According to the National Retail Federation’s Tax Returns Consumer Survey, 43.8 percent of refund recipients — the most in the survey’s history — plan to save a portion of the cash. Simply...
Did you know that paying for higher education costs could lower your federal income taxes? For 2011, several changes have been made to the IRS tax code, making it not only easier to attend college, but for parents to take advantage of much needed tax savings. 529...
