Tax Reflections for 2016

So I spent most of the weekend and yesterday working on my taxes (on and off), and I have come to a few simple revelations about taxes:

  1. I remember why when I had to choose a major at University I did not choose Accountancy. I love accountants (some of my best friends are number crunchers), but I am just not a details guy, and that is a lethally bad trait to have if you are a lover of Arithmetic on steroids (aka Accountancy).
  2. I am really glad that I blog, and I keep PDFs of my previous years tax returns, because they remind me of all of the things I have to remember to include in my return. This is all without all the new tax rules, I barely remember the old ones.
  3. I thank the person who wrote the first tax preparation software, because I remember doing this by hand, and I hated it even more back then. Yes, there are psychotic number lovers who do their taxes by hand (for fun), but I am not that guy.
Tax Time

Tax Time

I was kind of bummed that no one sent me any Tax Prep Software giveaway swag, but I guess I am not mainstream.

Here is a list (yes I hate lists, but in this case I will be a hypocrite) of the things I always forget, until I look at previous year tax returns:

  1. What the heck am I claiming as a business expense? Yeh, I claim this thing as a business (hard to believe). Expenses? How much it costs to have this thing hosted (this isn’t running on some free site).
  2. I need to remember to get my remaining child who transfers tuition to me, to sign a form, in case my friends at the CRA want to see my receipts.
  3. The UCCB is changing again, but for now, you still have to claim the income from last year.
  4. I had to go back through my Quicken logs for 2015 to find my:
    • Charitable donations that I forgot. My Church gives me a great receipt, but smaller donations tend to slip through the cracks
    • All my medical expenses. Remember I am claiming my son’s school fees as a medical expense as well, so finding all of the Occupational Therapy sessions he had (that are not paid for by my insurance), helps out as well.

To those waiting until the last-minute to do their taxes, I wish you bonne chance, you will be waiting a while for any refund. I have submitted my children’s returns (they are straight forward), and I have completed my “first draft”, but will wait 2 days to reflect further on things I may have missed, or forgotten.

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