It's Tax Time….5 Tax Tips To Save Money On Your 2014 Income Tax Filing
1. Contributing to RRSPs
Has your financial advisor been coaching you to add regular amounts to your RRSP? This little nugget of wisdom not only helps you save for the day when you are no longer earning a pay-cheque, but also helps you defer paying taxes on that money today, as well as grow that money tax deferred. This tends to be one of the single most impactful tricks to reducing your tax liability for most tax payers.
2. Claiming all eligible medical expenses