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This picture relates to my padlet because it shows us how taxes can take up so much of hour money and leave us with not a lot of money to spend on ourselves.

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I chose this picture because the information provided in my padlet can really help you with your taxes and how to reduce them. Income tax can be a nuisance but I can teach you how to handle it.

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I chose this picture because in my padlet, there are multiple ways to cut down income taxes. A lot of the information is most likely things you have never heard of.

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https://www.thebalance.com/strategies-to-reduce-small-business-income-tax-canada-2947304

In this website you can find 8 very helpful ways to reduce income tax in Canada. One example of reducing your income tax is to always collect your receipts for business related activities. The whole point of this is to maximize your income tax deductions. Anything that is business related should be kept and filed when ready. This way you will receive all the money back that you have spent on little things. Another example of reducing your income tax is to maximize you capital cost allowance income tax claim.

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http://www.canadianliving.com/life-and-relationships/money-and-career/article/the-tax-breaks-everyone-should-know-about

This is another awesome website that teaches the average Canadian a few things about how to save money on income tax. One way of getting a tax break is charitable donations. These donations can result in a bigger credit once you have donated more than $200. These charitable donations can be saved up to five years. It is recommended you compile them for a few years and then claim them all in one year as opposed to claiming a small amount every single year.

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https://www.hrblock.ca/wp-content/uploads/2016/11/TS15-Media-Advisory-Tax-Tips-for-Students-final-for-media-center.pdf

This website is a perfect site to visit if you are a student. It demonstrates multiple ways on how you can save money on income tax as a student in post secondary education. The information given in this website are tips that I have never known about and i'm sure other students feel the same way. For example a post-secondary student is able to claim up to $65 every month as long as they qualify for the full-time education amount. The part time students are also aloud to claim money every month but only up to $20. Transit is another very common way of getting to school and if you keep your receipts you can claim the Transit Tax Credit.

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This video provides a numerous amount of ideas for the self employed in Canada to save money on taxes. The first tip in the video explains that you can deduct a portion of your house hold expenses through simply having a business ran in your home office. The amount deducted is based on the size of your office compared to the rest of the area left in your house. The second tip is to pay salary to family members so that everyone is taxed at their own tax bracket. This helps reduce the percentage you pay in taxes yourself. The last 6 tips include; lease a vehicle, keep accurate books, incorporate to save taxes, individual pension plan, health and welfare trust and multiplying the small business deduction.

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Canadian Business Owners and Self Employed Professionals

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How To Save Taxes For the Self Employed in Canada

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If you are self-employed and working in Canada, then this video is for you! This video will outline 8 strategies that any self-employed Canadian can use to help save taxes.

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This video is another great source for showing us Canadians how we can reduce our taxes. The first tip for reducing your taxes in Canada is, first time donor super credit. To qualify for this you and your spouse must not claim the charitable donation tax credit in the past 5 years. The second tip demonstrates that by lowering your fees paid to your accountant for preparing your tax return can also reduce your taxes. The last 6 tips mentioned in the video that help us reduce our taxes are; Salesperson expenses, vehicle expenses, RRSP's, TFSA's, spousal loan and public transit amount.

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April 30th, the due date for personal tax returns in Canada is quickly approaching and many of you might be asking yourselves "how can I reduce my taxes?" This video will show you 8 ways in which Canadians can reduce their taxes.

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In this video, 4 key ways to save money on tax are demonstrated so that the average Canadian family can put a few extra dollars into their pocket instead of the government. The first tip to save money on tax is "the family tax cut."  This allows a spouse to transfer up to $50 000 of taxable income to a spouse in a lower tax bracket . This results in a maximum tax relief of $2000. To maximize your savings, the spouse in the higher tax bracket is to be brought to the lower tax bracket. The other 3 ways that are mentioned in the video that help save money on taxes are, the universal child care benefit, the child care expense deduction, and the children's fitness tax credit.

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How To Save Tax For Canadians - Income Tax Tips You Should Know

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Welcome to Income Tax - Tips and Resources 

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Welcome to Income Tax - Tips and Resources 

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In this website you will learn a few things about income tax along with some tips and resources that you might not have known about!

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Income Tax - Tips and Resources By Michael Vasconcelos

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Income Tax - Tips and Resources By Michael Vasconcelos

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Income tax is the tax from the government imposed on an individual based on how much the individual makes.