2025 tax season tips: How to save more this year

Tax season is officially here, and now is the time to review your strategy and maximize your deductions. Whether you’re a real estate investor or a medical professional, planning ahead can make a significant difference in how much you keep versus how much you owe. In this video series, I will be sharing key 2025 tax season tips and strategies that will help you take advantage of deductions, optimize your tax position, and prepare for upcoming changes. Over the next couple of months, follow along as I take you on a journey of saving!

Can't miss way to maximize tax deductions

Are you leaving money on the table when it comes to tax deductions? In this video, I tackle one of the most overlooked yet crucial strategies for maximizing your deductions.

Man with whitish beard and glasses with bow tie in blue shirt and suit jacket talking about the 2025 tax deadline extension

2025 tax deadline extended! Should you wait?

Yes, the tax deadline has been extended for some trusts and personal tax returns—but waiting could cause more problems than it solves.”

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Enhanced CPP contributions: Should you rethink how you’re paying yourself?

Are you paying yourself the right way with the new CPP changes?

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Home Buyers' Plan changes: What you need to know

The Home Buyers’ Plan has been updated—are you eligible for more?

Man with short dark curly hair, a white beard, glasses, and a canadian flag bow tie with a dark jacket talking about Maximizing childcare expenses tax deduction

Are you maximizing your childcare expenses tax deduction?

Childcare expenses can be a significant cost for many families, but they may also offer valuable tax deductions—if you meet the right conditions.

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The most missed tax deduction? Interest expenses.

Many taxpayers forget to claim interest expenses! Make sure you’re not leaving money on the table.

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Are you deducting professional dues on your taxes?

Did you know that professional dues or union fees can be a valuable tax deduction?

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Should you claim car expenses personally or through your corporation?

Claiming automobile expenses personally vs corporately is a common dilemma.

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Are you missing out on claiming employment expenses?

Employment expenses can generate important tax deductions.

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Are you tracking automobile expenses properly?

Ensure you are tracking your auto expenses properly to get the maximum deductions.

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Alternative Minimum Tax Canada: Will you be hit in 2025?

If you’re a real estate investor or medical professional relying on dividends, capital gains, or the lifetime capital gains exemption, this is a must-watch.

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Are you missing out on medical expenses?

Many Canadians don’t realize just how many medical expenses they can claim on their taxes.

White male with dark curly hair, short, with whitish beard and glasses, wearing a Canadian flag bow tie, dark suit jacket and whtie shirt talking about deducting political donations in Canada

Deducting political donations in Canada

Political donations are deductible – if you do them correctly. And correct changes based on federal and provincial levels of government.

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How pension income splitting in Canada could lower your taxes

If you or your spouse are over 65, pension income splitting in Canada can be a valuable tax-saving strategy.

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Volunteer firefighter tax credit doubles

For 2024 taxes, there’s a meaningful boost to the volunteer firefighter tax credit and search and rescue tax credit.

White male with short, dark curly hair and whitish beard, wearing glasses and a purple and yellow bow tie with dark blue jacket and light blue shirt talking about Claiming moving expenses in Canada

Claiming moving expenses?

If you move at least 40 kilometres closer to work, you may be able to deduct a long list of moving expenses.

White male with dark curly hair and whitish beard, wearing glasses and an Easter patterned bow tiw, with a light gray sweater, talkinga bout Deducting real estate education expenses

Can you deduct real estate education expenses?

The big question: can you deduct education costs like seminars, training events, investor groups, and more?

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What home office expenses can you deduct?

Ensure you are correctly deducting you can you from home office expenses.

White male with dark, short hair, glasses, and whitish beard with red bow tie, dark jacket and light shirt talking about Partnership vs joint ownership of real estate

Partnership vs joint ownership of real estate: What’s better for your personal taxes?

If you’re investing in real estate and you own it on your personal tax return (something we should talk about!), how you own the property matters,

White male with glasses and short curly hair and a white beard wearing a red checked bow tie, dark jacket, and gray dress shirt talking about filing taxes late in Canada

Filing taxes late in Canada: When it might actually make sense

Filing taxes late in Canada is rarely ideal — but in some cases, it might be the smarter move.

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Adjusting your tax return: Avoid this big mistake

Adjusting your tax return in Canada is sometimes necessary, whether for personal or corporate tax returns. But not all changes are treated equally.

Can you deduct work clothes on your taxes? Here’s the truth

In this tax tip, I break down what the Canada Revenue Agency (CRA) considers personal expenses and highlight the few exceptions where clothing costs may be deductible. 

Deducting kilometres: The simple step to avoid an audit

If you’re eligible to deduct the kilometres you’ve driven on your tax return, this can be a highly effective way to keep more of your hard-earned money. But there’s a catch,

Tax tip: Claim your RRSP deduction…later

While it may seem logical to claim your RRSP deductiont in the same year you contribute, don’t overlook this tax saving strategy.

Is your lunch tax deductible? Meals and entertainment deductions

Business meals and entertainment expenses can add up quickly. Make sure you can actually take the deduction though. 

Short-term rental owners - Beware new punishing taxes

Starting in 2024, the federal government is implementing new short-term rental taxes, and the penalties for non-compliance could be severe.

The hidden GST/HST trap for short-term rental owners

If you own a short-term rental (AirBnB, VRBO, direct booking, etc) and are thinking about switching to a long-term rental, beware this expensive GST/HST trap.

Maximizing your medical expense tax credit

Most people think they can only claim medical expenses for the calendar year, but that’s not the case.

Forgotten tax deduction! Deducting carrying charges

Many Canadians miss out on key deductions for carrying charges—are you one of them?

Resources: 2025 tax season tips

For additional resources related to 2025 tax season tips, see:

More questions on these 2025 tax season tips?

Still have questions about the year-end tax planning checklist? I want to help you Do wonderful things®, so please contact me today.

Remember – circumstances are unique! This information is summary in nature. Seek out advice from your tax advisor about your specific situation.

Last update: May 14, 2025

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George E. Dube, CPA, CA
Do wonderful things®

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Views & opinions expressed here are mine, not BDO's.