Effective tax strategies

Time frame: 60 mins

Learning objectives for participants:

• develop effective strategies to minimize the amount of tax paid
• understand basic tax law
• learn how to be proactive in tax planning and detailed record keeping
• understand the three main categories for tax planning:
  • reducing income subject to tax
  • maximizing deductions
  • using all allowable tax credits
• learn simple tips and tools to save money

Outline:

• understand tax laws
• tax planning
• keep detailed records
• how to achieve tax goals
• reduce taxable income
• tax deductions versus tax credits
• increase deductions
• use tax credits
• resources
• Q&A

Learning materials:

• Document Organizer Worksheet — organizer and tracker of all documents needs for taxes
• Tax Rate tables — tax rates by province
• CPA Canada’s Personal Tax Planner Guide — comprehensive resource for tax planning strategies
• CRA’s Fairness and Taxpayer Bill of Rights — specifies the rights and obligations of the tax payer, and the commitments of the CRA

Questions?

For questions, please email us.

Want a session in your area?

We will provide a CPA volunteer to lead the session with a prepared presentation, activities, handouts and worksheets. Note: If more than one session is needed, please fill out a second form and submit.

Request guidelines:

• 12 weeks’ notice needed to setup a session.
• Requests must be submitted by the request deadline.
• If more than five sessions are needed, please contact us directly.

For more information, visit setting up a financial literacy session.