A community-oriented approach with a progressive editorial stance, striving for transparency and encouraging readers to consider multiple perspectives.

Tuesday, June 17, 2025
booked.netCall us at 613-935-3763
Eco-conscious : Print an issue, plant a tree! 

No products in the cart.

  • About
    • Contributors
    • Disclaimers
    • Terms & Conditions
    • Giving back
    • Mission Statement
    • Past Issues
    • Where to Find
    • Call us at 613-935-3763
The Seeker - Positively Local, Suporting Local
  • Home
  • News
  • The Soapbox
  • Columnists
  • Events
  • Advertise!
    • Online
    • In Print
  • Puzzles
  • Videos
Seeker
No Result
View All Result

3 Ways to Optimize Your Taxes You Need to Know About

Allen Brown by Allen Brown
November 19, 2020
in This May Also Interest You
Reading Time: 3 mins read
0

Warren Buffet famously laughed as he talked about his secretary paid higher taxes than he did. When it comes to taxes, there is so much information to know and utilize that it can be hard to know where to begin. It’s difficult to feel confident, giving how much there is to know and how quickly the tax code changes. To make matters more overwhelming, each choice you make can end up costing you more money. Talk about pressure! The following will explore three things that you can do, no matter how strong your understanding of tax law, to optimize your taxes.

  1. Understand What You Can Write Off

Especially with so many people working from home or in unusual circumstances this year, many of us have work expenses like our laptops, internet bills, electricity bills, and phone bills that can be included in our taxes. Take a little time to learn about what can be written off when it comes to work-from-home expenses and begin saving your receipts and proofs of purchase. You’ll be amazed how quickly these dollars add up.

You might also like

Multi-hyphenating in Canadian Indie Filmmaking: Insights from Toronto-based Film Producer Bardya Ziaian

Toronto Weddings on Wheels: How Luxury Limousines Are Changing the Game for Modern Couples

The Benefits of Partnering with a Managed IT Service Provider

  1. Keep Up With the Changes in the Tax Code

Especially when it comes to your retirement savings plans, changes in the tax code (which happen pretty regularly) can drastically impact how hard you’ll be hit by your taxes when you decide to retire. Experts at Bogart Wealth emphasize that keeping up with the latest developments in the tax code is an essential part of the planning and optimizing of your taxes. Try to find somewhere that publishes a reputable weekly commentary on the changes that are ongoing when it comes to taxes.

  1. Consult an Expert

Of course, whatever your specific situation is will have its own tax implications. There might be decisions that you could be making right now to save you money down the line. Is your teenager also at home lots? Do they help out with your work? You can pay them and avoid taxes on the money you used to do so. As a bonus, they’ll be getting the work experience that they’re probably missing out on due to the pandemic. There are countless little choices just like the one mentioned above that you could be taking advantage of to save yourself some money in the future. An expert will be able to guide you towards these options.

With the above three tips kept in mind, you’re well on your way to optimizing your taxes. Of course, every person and every business is different so the application of the above tips is going to look different as well. As with any financial and legal advice found online, always consult a professional if you feel unsure of how the information you’re learning applies to your particular situation. This being said, one thing remains true for all of us regardless of our situations: the more knowledge you gain about the tax code and the system, the better your chances are of making sound decisions that will leave you happy not only this coming tax season but tax seasons well into the future.

Allen Brown

Allen Brown

The information contained in this article is for informational purposes only and is not in any way intended to substitute professional advice, medical care or advice from your doctor.

Next Post
sad little siblings hugging toys on floor

The How-to Guide to ABA Therapy

Categories

  • Business & Finances (15)
  • Columns (626)
    • Archived (115)
      • Filter-Free Zone (9)
      • For What it's Worth (37)
      • Fostering Change (2)
      • Memo from the Mayor (2)
      • Men Writes (26)
      • Mortgage Tips (1)
      • Seeker Snippets (22)
      • Take Note (6)
      • Which Witch is Witch? (10)
    • Current (389)
      • Appreciating Contemporary Art (2)
      • Discover SD&G (36)
      • Fashionably Marlene (13)
      • From Sharyn's Pantry (7)
      • Gardening – Ask Anna (27)
      • Grant Spills the Gravy (10)
      • Jay's Tech & Cyber Insights (4)
      • Keeping it Reel (27)
      • Local Spins from Bud's Records (9)
      • Louise Mignault (58)
      • Mental Health Matters (10)
      • Out and About (51)
      • Outdoor Club (23)
      • Reality Bytes (8)
      • roadSIGNS (31)
      • Smart Move with Sondra (3)
      • The Resilient Life (5)
      • Transition Cornwall+ (16)
      • What I'm Reading (2)
      • Wondrous Life (33)
      • Yafa Arts & Craft (21)
    • Friends of the Cline House (1)
  • Douris Deliberations (6)
  • Events (1)
  • Health & Fitness (10)
  • Home & Garden (11)
  • Interviews (156)
    • 5 questions with… (106)
    • Business Profiles (1)
    • Locals in the Loupe (47)
  • Leisure & Lifestyle (736)
  • News (2,563)
    • Ontario (1)
  • Politics (24)
    • Federal Elections (10)
    • Provincial Elections (10)
  • Science & Technology (46)
  • Sports (3)
  • The Adventures of D.B Cooper (1)
  • The Soapbox (259)
    • Agree to Disagree (114)
  • This May Also Interest You (1,573)
  • Travel (52)
  • You May Also Like (969)
Facebook Twitter Instagram Youtube TikTok
Don't miss anything!

Get notified of all our new news by ringing the bell at the bottom left corner!

Content Safety

HERO

theseeker.ca

Trustworthy

Approved by Sur.ly

2024
Disclaimers
Stock Photos partially provided by our partner Depositphotos
The Seeker Newspaper is located at 327 Second Street E., Cornwall, ON K6H 1Y8 -- All rights reserved
The Seeker does not accept responsibility for errors, misprints or inaccuracies published within.Please note that the views and opinions expressed in news article are solely those of the authors and do not necessarily reflect the official policy or position of The Seeker. The content provided is for informational purposes only and has been written from the authors’ perspective, aiming to engage and inform readers. The Seeker is committed to presenting a wide range of viewpoints and encourages readers to conduct their own research and exercise critical thinking when considering these opinions in the context of their own perspectives.
ISSN 2562-1750 (Print)

ISSN 2562-1769 (Online)
No Result
View All Result
  • Home
  • News
  • The Soapbox
  • Columnists
  • Events
  • Advertise!
    • Online
    • In Print
  • Puzzles
  • Videos

© 2023 Reducing our footprint!   For every issue we print, we plant a tree!

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.