Tax Planning 101: You Have Until March 1 to Reduce Your 2020 Tax Bill Using RRSP

Author: External Author | | Categories: Corporate Tax Planning , Payroll Services Montreal , Personal Tax Planning , Tax Planning Services

The year 2020 was different from other years for many Canadians even in terms of income. Many people lost their jobs, started home businesses, and got generous unemployment cash benefits. All these changes drastically impacted your income. Have you calculated your 2020 taxable income? Calculate it now, as you may have a higher tax bill waiting for you in April. You have time till March 1 to reduce your tax bill using the Registered Retirement Savings Plan (RRSP).

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Original Article Source Credits:   The Motley Fool ,

Article Written By:   January 5, 2021

Original Article Posted on:  Puja Tayal 

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