And now I lay me down to sleep.
I pray the Lord my soul to take,
If the tax-collector hasn't got it before I wake.
~Ogden Nash
It's crunch time again, time to gather the T4's and T1's and Twhatevers and sit down and do your taxes. Every year as I struggle to get everything in on time; I vow to get organized and do my return in February, but each year the end of April and panic time approaches, I'm doing the scramble again. Whether it's sitting down with pen and forms, e-filing, going to a tax preparer or your local friendly accountant, the process of doing a yearly return causes stress, migraines and a sense of dread to many Canadians, even if the final result is a welcome refund.
This year in an attempt to get my act together, I grabbed some of the newest and best tax and financial planning books available at the library, so while it may be a little late for this year, hopefully, if all goes well, I'll be ready to roll at tax time next year.
Tax Tips for Canadians for Dummies, 2009 Edition by Christie Henderson and Campbell Lawless
A fun and informative guide that offers simple to use money saving shortcuts that should make doing your tax return less of a chore. The book offers tips on getting and staying organized, it explores what changes are in store for your 2008 return and shows you the best ways to pay less tax next year.
Smart Tax Tips: Winning Strategies to Reduce your Taxes by Karen Yull and Grant Thornton
Now in a tenth edition, Smart Tax Tips has become the authority that Canadians use when they are looking for tax saving ideas. With more than 150 practical tax tips on everything from alimony, asset management and charitable donations, this is a great guide to help you maximize your return. Whether you operate a small business, work for someone else, are thinking of retiring or are filing you first return, there is something here to help you keep more of your money.
Tackling the Taxman: How to Keep the CRA from Controlling your Investments and Your Life by Alex Doulis
Tackling the Taxman in a clear informative guide to your rights and obligations if you get audited or investigated by Revenue Canada, and offers legal precedents and anecdotes about what can and has happened during the process. The book also offers tips on why some people do get audited, and how to avoid the red flags on your return that increase your chances of an audit in the first place.
When Can I Retire? By Andrew Allentuck
Every year thousands of Canadians retire after long and productive work lives only to find that the financial crunch of the retirement years are not what they expected. To help make sense of the requirements of your retirement years, journalist Andrew Allentuck shows you how to navigate Old Age Security, Canadian Pension plan and its supplements, how to use your RRSP funds , and most importantly how to plan ahead to make your retirement years the best they can be.
My Blue Haven by Alex Doulis
Offshore investments, tax havens and numbered Swiss bank accounts are not only the available to the rich and infamous; many Canadians are taking advantage of the perfectly legal ways that you can use to protect your money from Federal and other taxes. Author Alex Doulis offers a step by step guide to ways to shelter your income from Canadian taxation.
Lori Kauzlarick, Public Services Assistant
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