Good Taxes Canada has announced the launch of their monthly newsletter containing tips and information for Canadians on how to reduce their income taxes. The average Canadian feels overtaxed and the goal of Good Taxes is to help the average Canadian save some money! Good taxes will meet this goal by educating Canadian tax payers, through the newsletter, on how the tax system works and informing them on the current methods available to reduce their taxes.
Good Taxes has appointed Ms. Stewart as Editor in Chief. Ms. Stewart is a professional accountant with 15 years experience who belongs to the Order of Certified General Accountants. She brings many years of experience to the table and is well versed in Canadian income tax law. She will be providing an in depth view of various methods of saving income tax for Canadians on their annual income tax returns. In the newsletter she will analyze current income tax law and provide easy to follow examples of how to apply these rules and regulations so that everyone can get information on how to start saving on their income taxes.
This newsletter, called Tax And Tips, will be published monthly and will be available on the website of Good Taxes Canada. Every month, several topics will be addressed, and one of them will receive an in-depth analysis. The in-depth analysis will address tax issues that every Canadian will find useful because it will explain how the tax system can work for them rather than against them. The goal of the newsletter will be to inform the average taxpayer of options that they can use to reduce the taxes that they are paying. The newsletter will help taxpayers to be informed enough on many issues that they can then take their questions to a licensed professional who will look at their tax situation in depth. Every person who reads Tax and Tips will come away better informed about the tax system.
The first month's newsletter contains an in depth look at the Registered Retirement Savings Plans (RRSPs), as the deadline for contributing to RRSPs (March 1st) is fast approaching, as well as a few other timely subjects. The issue will give information on how to make contributions in order for them to be applicable for the year 2010 on the income tax return. Ms. Stewart will explain in a fashion that is easily understandable, what the rules are for contributing to an RRSP, how to go about doing that and why it may be beneficial to people to do so.
The Tax and Tips newsletter will underline the rules for spousal RRSP, and outline the problems associated with overcontribution, as well as explain how RRSP contribution limits are affected by Registered Pension Plans (RPP). To complete the discussion she will show what happens at the limit age of 71.
Next month, Ms. Stewart will be discussing the Tax Free Savings Accounts. The Tax Free Savings Account is a fairly new provision that the government announced a couple of years ago. Many people, not to mention financial institutions, are still confused as to how this tax saving vehicle can be applied to them and what the exact rules of usage are. Ms. Stewart will explain in plain English how to use the Tax Free Savings Account so that the reader can get well on their way to saving money. The newsletter will show "How to" and a comparison of the different vehicles offered by different financial institutions. The "how to" examples are designed using straight forward and easy to follow numerical situations that will easily demonstrate how the rules are applied. To round out the discussion of the TFSA the newsletter will also discuss and compare the RRSP versus the TFSA and why one may be a better option for some taxpayers.
A highlight of this topic will be included in the first newsletter to help people get started. The following months, newsletters will discuss various subjects that will be of interest to everyone and will help save on income taxes.
For more details and a free download of the Jan 2011 newsletter, http://www.goodtaxes.com
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About Good Taxes Canada
Good Taxes Canada is a consulting company, dedicated to helping Canadians pay as little income tax as possible. They are the Editors of the monthly newsletter Tax and Tips, with an in-depth subject every month.