Hylton Davis MBA

Hylton Davis MBA So, how does money really work? Join us, as we shed light on some key financial concepts. Weekly broadcasts will be hosted by various Finance Professionals.

Grab your notebooks and get ready to talk money!

As experts in all things taxes, a question we are often asked is: When’s the best time to file my taxes?The short answer...
03/05/2024

As experts in all things taxes, a question we are often asked is:

When’s the best time to file my taxes?

The short answer is: before the deadline [laughing emoji]

Joking aside, if you wait too long to file, you could miss the deadline and set yourself up for late penalties.

On the other hand, if you file too early, you might miss some important information, such as a deductible you qualify for.

That’s why we recommend that you start preparing for tax season in January. This will ensure that you’re on top of all the necessary requirements, and that you have adequate time to get organized.

When it comes to actually filing your taxes, some times are better than others.

For instance, if you expect a refund or your return is straightforward, it might be in your best interest to file as soon as you receive the paperwork.

If you have a complicated return, you should probably wait to make sure that you have all the necessary paperwork and that the information is correct.

We hope that you found this helpful, and if you’d like to learn more tips and tricks for tax season success, just send us a message or leave a comment down below :)

Let’s test your tax knowledge ;)
03/02/2024

Let’s test your tax knowledge ;)

Here’s a good one for all the dog lovers out there:Where do dogs pay their taxes? The Internal Ruff-enue Service 😂
03/01/2024

Here’s a good one for all the dog lovers out there:

Where do dogs pay their taxes?

The Internal Ruff-enue Service 😂

Most people hire tax professionals to — you guessed it — do their taxes. So for those of you who still do it yourself, w...
02/29/2024

Most people hire tax professionals to — you guessed it — do their taxes.

So for those of you who still do it yourself, we want to ask you:

Why do you do that to yourself!? [laughing emoji]

Seriously, though: we’d be more than happy to take it off your hands.

Interested in learning more about taking care of your taxes? We can help with that!Just remember, organization is impera...
02/28/2024

Interested in learning more about taking care of your taxes?

We can help with that!

Just remember, organization is imperative for proper tax season preparation — it can mean the difference between filing on time or missing the deadline and subjecting yourself to additional fees.

And nobody wants that ;)

That said, we want to clarify any confusion or questions you may have about tax season, best practices for preparation, or about the work we do in our office.

Drop your question in the comments below and we’ll be happy to share our knowledge and expertise.

Tax season is a nightmare for a lot of people. We completely understand why — digging up old files, sorting through rece...
02/27/2024

Tax season is a nightmare for a lot of people.

We completely understand why — digging up old files, sorting through receipts, the list goes on and on…

So to help you prepare for your tax appointment, here are some of the different documents you may need:

T3: Statement of Trust Income Allocations and Designations — you’ll receive this if you have mutual fund trust (like EFTs) in non-registered accounts.
T4: Employment Income — if you’re employed, you can expect your T4 in January or February.
T4A: Statement of Pension, Retirement Annuity and Other Income — you typically get one of these for income received from annuity, RESP withdrawal, or a workplace pension plan.
T4RSP or T4RIF: Statement of RRSP Income or Income from a RRIF — you’ll get one of these if you withdrew funds from your RRSP or RRIF.
T5: Statement of Investment Income — this is for different types of investment income.

We hope you found this informative! And if you need some assistance getting ready for tax season, feel free to send us a message or give us a phone call so we can help you out :)

02/27/2024

I'M CURIOUS! WHAT DOES EVERYONE ON MY FRIENDS LIST DO FOR A LIVING?

SAW THIS ON A FRIEND'S PAGE & IT'S SO COOL READING ALL THE OCCUPATIONS!

Employment Income, RRSPs, Retirement Annuity, TFSA — does it ever end!?We get it — the list of terms gets bigger every d...
02/24/2024

Employment Income, RRSPs, Retirement Annuity, TFSA — does it ever end!?

We get it — the list of terms gets bigger every day.

That’s why understanding tax terminology is more important than ever.

Thankfully, we can help you with that!

But first, we want to know:

What is one tax term you don’t understand?

Everyone dreads them, but everyone has to file them. Most people pay for tax services for a similar reason: they don’t h...
02/23/2024

Everyone dreads them, but everyone has to file them.

Most people pay for tax services for a similar reason: they don’t have the knowledge — or patience — necessary to get their taxes filed on time.

Thankfully, we’re here to do it for you.

Want to learn more about the services we have to offer? Just send us a message and we’ll be happy to set you up with an appointment :)

Here’s a good one for all the tax nerds out there:Why did the goose get a big tax refund?Because his bill was tax de-duc...
02/22/2024

Here’s a good one for all the tax nerds out there:

Why did the goose get a big tax refund?

Because his bill was tax de-duck-table 😂

The best thing about tax season is getting a hefty return.My favorite thing to spend my return money on is ____
02/21/2024

The best thing about tax season is getting a hefty return.

My favorite thing to spend my return money on is ____

What type of insect helps people with their taxes? An account-ant 😂
02/20/2024

What type of insect helps people with their taxes?

An account-ant 😂

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