“Your Money” on CTV Morning Live

Check out this week’s CTV Morning Live Your Money segment. Tune in as Coast Capital Savings’ financial gurus provide simple financial help on issues that matter to you.

CTV Your Money

March 3, 2015 - Make preparing your tax return easier

If the thought of preparing your tax return gives you the cold sweats, you’re not alone. Preparing a tax return is, for those of us who aren’t accountants, one of the most dreaded tasks of the year. Here are some tips on how to make this process just a little easier:

  • If you hate this job so much that you’re going to rush the job and possibly miss deductions, hire a tax preparation service to do it for you.
  • Tax preparation software works well for many because it will make the job easier and alert you to deductions and tax-saving strategies. Check the CRA’s website for programs that are approved and can be used to file your taxes electronically.  
  • Start early so you’re not pressured by the April 30th deadline. Not only will starting early give you more time for the job, but if you manage to file early, your refund will hit your bank account sooner.
  • Take some time to go through your files and find all those bits of paper you’re going to need before you start crunching numbers. It can be very frustrating to think you’re ready to go then realize you have to go hunting for something.
  • Estimate how long you think it will take and book the time into your calendar. That way, you can’t put it off!
  • Plan a little reward for when you’re finished: a nice bottle of wine or a night at the movies. An incentive can go a long way when you’re up to your eyeballs in receipts!

Looking for more helpful information? Check out past segments