2011 Income Taxes, How About 2012 Income Taxes?
After Retirement Savings Plan (RSP) season there is a lull. RSP’s are in the news a lot early in the new year because of the deadline to invest to deduct against past years! Sixty days after January 1st to be precise.
2011 Tax Time – You’ve probably started received most of your tax information in the mail? T4’s, T5’s, government information and so on. Don’t ignore it, the faster you get it done, the faster you will receive any return you are owed and April 30th is fast approaching.
While you’re working with your 2011 information here are some ideas to set a good foundation for 2012.
Get a jump on 2012:
- Do your taxes using a software that will ‘remember’ 2011 data so it will be quicker in 2012
- Label an envelope to gather 2012 tax receipts you receive throughout the year (donations, kids’ sports expenses, transit passes)
- Set up a monthly RSP savings transfer – starting now!