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.
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.”
Enhanced CPP contributions: Should you rethink how you’re paying yourself?
Are you paying yourself the right way with the new CPP changes?
Home Buyers' Plan changes: What you need to know
The Home Buyers’ Plan has been updated—are you eligible for more?
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.
The most missed tax deduction? Interest expenses.
Many taxpayers forget to claim interest expenses! Make sure you’re not leaving money on the table.
Are you deducting professional dues on your taxes?
Did you know that professional dues or union fees can be a valuable tax deduction?
Should you claim car expenses personally or through your corporation?
Claiming automobile expenses personally vs corporately is a common dilemma.
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.
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.
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: March 30, 2025
