During the month of April, Tax Tip Tuesday falls between Doing-Tax-Returns-Monday and Doing-­Even-More-Tax-Returns-Wednesday.  So you can imagine that it’s nice to take a break, write a blog post or meet with a new client. This week’s Tax Tip is more of a “Greatest Hits” list of questions I’m asked during these client visits, questions you SHOULD be asking your tax accountant and something my 16-month-old asked me this week (the latter is kind of a throw-in for fun….although my daughter is displaying an uncanny skill for taxes!)

So without further ado…..what I am asked most often in March and April…

#1 – What do you charge?

Answer – Depends.  The basic tax return (between 2 and 5 T-slips) is $120. This includes follow-ups during the summer if our ohhh-so-bored-in-July Government asks to see your medical receipts or donation slips.  If you’re married, $220 for both of you!  If your taxes are more complex, call or e-mail or facebook-message (FESSAGE!) me…we can chat about the details.

#2 – Am I getting a refund? (Or, the ever popular WHY am I not getting a refund???)

Answer – Obviously because you didn’t bring me cookies or brownies when you came to pick up your completed taxes.  That, and whoever does your employer’s payroll did their maths properly during the year!

Assuming you work as an employee, every 2 weeks your paycheque is deducted-at-source (your employer holds back the taxes you owe).  If you don’t take other tax actions (Taxctions™) during the year (i.e. contribute to an RRSP, make donations, etc.) then this system is designed in such a way that your tax balance owing will be zero at the end of the year.  Genius!

Moral of the story – Register your RRSP as a charity and donate generously!

#3 – Ba-beh-ah-nana??? 

This one was from my daughter, who I’m pretty sure was asking me if she could have more banana. (That or she speaks perfect English and is just messing with her Mom and me. (That is the correct grammar, you know.))

Answer – Yes, Rosie you can have more banana.

Questions you should be asking:

• Why should I hire you as my accountant? How will you save me money?
• How should I be organizing my papers so that my tax return might cost less?
• How, oh HOWWW are you so handsome Mr. Funny Accountant?

In summary, there are no dumb questions.  Except when your question is really, really, really dumb in which case mockery is justified.

Have a nice week everyone! Happy birthday to me on Friday!!!

“Time is an illusion. Lunchtime doubly so.”

The Funny Accountant.

For more information on this and other tax issues, please contact The Funny Accountant/President of MK & Associates at mitch@mkassociates.ca. And, once again, please share your ideas, thoughts, questions and compliments on past and future blog posts!