Alberta Divorce Finances

When couples separate, CPP (Canada Pension Plan) credits are often overlooked, yet they can have a significant impact on your future retirement income.

At Alberta Divorce Finances, we guide clients through the CPP credit splitting process, helping you understand how this division works and how it can affect your long-term financial planning.

Many people are unaware that CPP credits can be split for the period of cohabitation. Understanding this division can ensure that both partners receive fair benefits based on their contributions during marriage or common-law relationships.

Knowing this today brings clarity for tomorrow. It’s crucial to get this right early on, as mistakes can be costly when it comes to your retirement.

Learn more or book a consultation at www.albertadivorcefinances.ca.

Great piece written by my close friend and colleague Lisa Wilder, a Master Practitioner of Clinical Counselling with the Canadian Professional Counselling Association and an approved Counselling Therapist with the Association of Counselling Therapy of Alberta. Take time time to have a read.

Finding Healing Through The Chaos of Divorce Divorce isn’t something anyone plans for. It’s the milestone we never wanted and is often described as one of life’s most stressful events. It’s not just the end of a relationship; it’s a series of many other tiny endings. It’s the unravelling of routines, roles and identities, family dy...

Take time today to remember those who made the ultimate sacrifice so that we may enjoy the many freedoms we have today.

Looking to file your taxes remotely? Let our Lethbridge office help you do so remotely.

Filing Process with Lethbridge Choice Tax

renamed
The government of Canada has renamed the climate action incentive. The program is now referred to as the Canada Carbon Rebate to clarify its function. The program returns the proceeds of carbon pollution pricing back to Canadians in provinces where the federal backstop system applies. You must file a tax return to receive your quarterly payments ($1,800 for an Alberta family of four). Questions? Don’t hesitate to reach out to Kevin Matthew at calgaryschoicetaxservices.com/lethbridge-choice-tax
or myself at

Lethbridge Choice Tax - Calgary's Choice Tax Services If you’re feeling overwhelmed with your personal tax returns, please get in touch with our team. Here are a couple more reasons why you should hire us;

Happy International Women’s Day. On this day I’m reminded of the strong woman my mother was and that her early advice was to ensure that I would always be able to be independent in everything I did. That was a long time ago but is the same advice I passed on to my daughter. Teach your children, especially your daughters that they can be anything they dream to be, with alot of support, love and hard work.

Join us on Wednesday Feb 28 for a zoom webinar.
Save thousands on your tax return! Webinar is for those
going through separation and divorce to help understand
the deductions, credits and benefits available.
https://conta.cc/42VYrbt

Don't miss out on thousands on your Tax Return! Divorce and Your Tax Return - What You Need To Know!   Get In Touch (Tax Services): (403) 703-7176 Email Us Today!   Divorce and Your Tax Return: What You Need To Know! Hello Sharon, Why TAX RETURN i

At Calgary’s Choice Tax Services, we are busy preparing for the upcoming tax season and are excited about our expansion to Lethbridge. If you live in Lethbridge or surrounding communities please reach out to [email protected] for all of your tax planning needs.
Let us worry about your taxes, so you don’t have to!

Lethbridge Choice Tax · 643 Keystone Chase W, Lethbridge, AB T1J 5G2, Canada 5.0 ★ · Tax preparation service

Excited to announce the expansion of Calgary’s Choice Tax Services to Lethbridge and surrounding communities. My son, Kevin Matthew
(Kevin Numerow) will be managing the Lethbridge office. He brings a business degree, accounting background, customer service, investment knowledge, retirement planning and tax experience to our practice. Please reach out and let us worry about your taxes, so you don’t have it. Please help spread the word!

Lethbridge Choice Tax - Calgary's Choice Tax Services If you're a landlord in Lethbridge or its environs, it's essential to accurately report your rental property income to minimize your tax liability. We

Will your clients receive the new federal grocery rebate?

The government is issuing a one-time grocery rebate as an enhancement of the present GST credit. It was passed in May as part of Bill-C46.

Approximately 11 million Canadians will receive the rebate.

The rebate will be eligible to individuals, with a net income of less than $32,000, and to families who earn less than $38,000. The rebate amount will be calculated based on your 2021 (not 2022) net family income and your “family situation” as of October 2022.

The amount you are eligible for will depend on your net income and the amount of GST that you received in January 2023.

Couples with 2 children can receive up to $467, single Canadians without children up to $234 and seniors up to $225. Your rebate will be twice the amount of GST you received in January 2023. The rebate will be paid on July 5, 2023 along with your GST payment.

You must have filed your 2021 income tax return to be eligible.

If you haven’t filed, or have questions, reach out!

Homepage - Calgary's Choice Tax Services Calgary’s Choice Tax Services are specialists who can help to guide you through your tax return. We can help navigate you through your personal and business

Do I have to make CRA Instalment payments?

We get this question often at https://buff.ly/3MzeDrq

The answer is simple.....if CRA requests instalment payments, then you are required to pay them.

When does CRA begin to request instalment payments?
If your net income tax owing is $3,000 or more in any 2 of the 3 preceding years, CRA may begin to request that you pay instalments. This might apply if your employer does not withhold enough income tax, or if you are a sole proprietor, have rental income, have investment income or certain other pension payments where tax is not withheld.

A reminder, including amounts due, to make the March and June payment is sent in February and the reminder for September and December is sent in August.

If you elect not to pay them, or pay a particular quarterly payment late, then you will be charged interest when you file your return for the year in question. Interest will be charged at the prescribed rate from the date it was due until it is paid or January 1 whichever is later; if none of your instalments are paid, then this will apply to each quarterly payment.

If you paid any of the quarterly payments, but not all four, then the interest for the year starting from date payment was made or January 1, whichever is later up to balance due date is subtracted from the interest calculation in the preceding paragraph.

Penalties are only charged when the interest owing is greater than $1,000.

There are a number of different methods to calculating your instalment amounts so it is important if your income is not consistent each year, that you work with your tax preparer to understand your obligation.

Questions? Please do not hesitate to reach out to [email protected]

Homepage - Calgary's Choice Tax Services Calgary’s Choice Tax Services are specialists who can help to guide you through your tax return. We can help navigate you through your personal and business