Six Ways To Reduce Your 2008 Taxes
As the end of the year is hurriedly approaching towards us, November is the perfect month to take a look at your 2008 transactions, consult Dustin for a review, and make any necessary adjustments. Below are 6 ideas that you can use to reduce your taxes:
1. Contribute to RRSP’s and know your contribution limit.
2. Carry forward any unused RRSP’s from the previous year.
3. Don’t over contribute to your RRSP’s.
4. Donate.
5. Use your capital losses. You may be able to reduce the current years and prior years taxes on capital gains by using your 2008 capital losses.
6. Split your pension income.
Every effort has been made to ensure the accuracy of the above information. However, because of the nature of the subject, no person or firm involved in the preparation or distribution of this commentary accepts any liability for its contents or use.