CPA Ontario counts down the final 30 days of the 2014-15 tax season
TORONTO, April 1, 2015 /CNW/ - The Chartered Professional Accountants of Ontario (CPA Ontario) offers taxpayers and businesses a collection of informative tax tips and resources in the month of April in preparation for the April 30, 2015 income tax filing deadline.
Twitter #CPATicker – Social Media Campaign: CPA Ontario begins a Twitter campaign on April 1, posting daily tax tips aiming to help individuals across the province prepare their income tax submission, counting down to the April 30 income tax filing deadline. Tweeting with the hash tag #CPATicker, CPA Ontario will release one helpful tax tip per day for 30 days. Learn more by following CPA Ontario on Twitter.
Brief tax tips for the general public, students and small business can be found at: http://www.cpaontario.ca/MediaRoom/MediaArticles/TaxPlanArticles/1009page5883.aspx.
CPA Ontario is also offering editorial content supporting the 2014-15 Tax season through a series of Tax Tip articles authored by CPA experts, spanning such topics as:
Tax articles for individual taxpayers 2014 returns
- Personal tax credit and deduction highlights for 2014
- Update: Ontario personal income tax brackets, tax rates and surtaxes
- How long should I keep my old tax records?
- Be prepared for a tax audit
- Income splitting: What's in it for you?
- Split pension income to save taxes
- Tax credits for home buyers
- Maximize your Tax Free Savings Account contribution in 2015
- Giving back helps everyone
- File a tax return, even if you don't pay income taxes
- Tax credits can help pay your transit fees
- Students can claim tuition fees and more
- Tax credits for families, including Children's Fitness Tax Credit
- Which childcare costs can be deducted?
- Tax credits for caregivers
- More financial security for those with disabilities
- Ontario Senior Homeowners' Property Tax Grant
Tax articles for 2014 returns for entrepreneurs, business owners and the self-employed
- Who can deduct driving expenses?
- Don't be late making your tax instalments
- The CRA's Business Tax Reminders mobile app
- How to register your business
- Understanding GST/HST
- It's important to keep good tax records
- Business income and expenses
- Tax benefits for the self-employed
- The Small Business Deduction – does your company still qualify?
The Tax Preparation Assistance Program – CPA Ontario helps thousands of individuals prepare their tax returns so they can qualify for much-needed tax credits and refunds. Since the program was initiated, many Ontarians have benefited from the volunteer tax-preparation time of CPAs. Today, the program is an ongoing partnership between more than 300 community service groups that host the tax preparation services and volunteer CPAs who complete the returns free of charge. Last year, 2,300 volunteers prepared more than 24,000 tax returns in Ontario – CPAs have been assisting in preparing tax returns for 47 years.
To qualify for this free tax return assistance, individuals must have a total household income of less than $35,000 with dependants or less than $25,000 without dependants. Also, there should be no property income, business income and no terminal returns. Information on sessions across Ontario can be found in the "Serving the Public" area of the CPA Ontario website at: cpaontario.ca.
"This program is vital to communities in Ontario, supporting people who need help the most," said Carol Wilding, FCPA, FCA, president and CEO, CPA Ontario. "Our members find it gratifying to get involved and to be able to give back to the communities where they live and work."
Need a tax season expert? Consider a CPA the next time you're looking for a subject matter expert to answer critical financial or business questions or when you need a panel expert to offer insight in a group discussion or debate. Visit our Find CPA Expert webpage.
About the Chartered Professional Accountants of Ontario
CPA Ontario protects the public interest by ensuring its members meet the highest standards for integrity and expertise. CPA Ontario serves and supports its more than 80,000 members and approximately 20,000 students in their qualification and professional development in a wide range of senior positions in public accounting, business, finance, government, not-for-profits and academe. Certified General Accountants (CGAs), Certified Management Accountants (CMAs) and Chartered Accountants (CAs) are now unified under the Chartered Professional Accountant (CPA) designation. Chartered Professional Accountants are valued by organizations of all types and sizes for their financial expertise, strategic thinking, business insight, management skills and leadership. For information on the profession, visit cpaontario.ca. To become a CPA in Ontario, visit gocpaontario.ca.
SOURCE Chartered Professional Accountants of Ontario
For further information: Perry Jensen, Chartered Professional Accountants of Ontario, 416-969-4271 or 1-800-387-0735, ext. 4271, [email protected]