It’s Tax Time- Remember to Claim Your Charitable Donations!

Posted by 22 Feb, 2012

It is that time to start collecting all those pieces of paper you need to properly file your income tax. Remember to collect all your charitable receipts to ensure you get the most tax benefit from your charitable giving.  These days you will often receive your charitable receipts via email so make sure you have saved those emails or printed off the receipts, in addition to those you may have received via traditional mail.  Every year I create an envelope for my tax receipts. When I receive a charitable receipt, via email or Canada Post, I put a copy in the envelope so when it comes to preparing my income tax, I have all my charitable receipts in one place.  Can’t find a receipt?  Sometimes in our hurry to clean out our emails, you may have erased a receipt or two from the charities you support- not to worry, you can ask the charity to send you a copy so don’t hesitate to contact them- every donation counts!

Categories : Corporations, Cost-Effective Management, Monitor & Evaluate, Research & Due Diligence, Terry Smith, Wealth Advisors

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