5 BULLET FRIDAYS - Tax Mechanic News, Tips, Strategies

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Welcome to Tax Mechanic Insights! 📬

Students, it’s Time to Get Tax Savvy! 🧮📚

January 14, 2025 | Ottawa, Ontario | Canada Revenue Agency

As a student living in a digital world, you’re probably already pretty tech-savvy, but now it’s time to get tax savvy! We know filing an income tax and benefit return can feel overwhelming and confusing, but we can help.

Tax Savvy Tips

Filing your tax return every year can make your funds go further. You can potentially:

• Get (or continue to get) benefit and credit payments you’re eligible for, like the goods and services tax/harmonized sales tax (GST/HST) credit and related provincial or territorial credits.

• Claim tax credits, like the tuition tax credit and interest paid on student loans.

• Get a refund! 💸

International Students – Don’t Miss Out! 🌏

If you’re an international student living in Canada, filing a tax return can also help. You could be eligible for some benefit and credit payments. Visit benefits, credits, and taxes for newcomers for more information.

To find ways to file your tax return, including through a free tax clinic, check out Get ready to do your taxes. This page will be updated in late January 2025.

Key Dates to Remember 📅

Maximize Your Money 💡💵

Life can be expensive, but benefit and credit payments, along with tax credits and deductions, can help.

You might be eligible for tax-free payments such as the:

• GST/HST credit – A quarterly payment that can help eligible individuals get up to $533 a year.

• Canada Carbon Rebate – A quarterly payment that helps offset the cost of federal pollution pricing.

• Canada Child Benefit – A monthly payment to eligible families for raising children under 18.

Dive deeper into the topic.

The Crazy Story of Google’s 7 Angel Investors 🎙️

Issued By: My First Million | January 17, 2025 | 🎙️ Podcast

In this episode, Sam Parr and Shaan Puri explore the incredible stories of seven strangers who made legendary investments. Get ready to be inspired by their insights and strategies! 🚀💼

Key Highlights ✨

📌 Andy Bechtolsheim: Key player in founding tech giants 🚀

📌 David Cheriton: Professor with lucrative investment foresight 🎓

📌 Ron Conway: Secrets of a top Silicon Valley angel investor 👼

📌 Alfred Lin: The impact of strategic investments 💼

📌 Shaquille O'Neal: Business ventures of an NBA legend 🏀

📌 Susan Wojcicki: Journey of YouTube's CEO 📺

📌 Pejman Nozad: From rug salesman to top investor 🛋️

📌 Jeff Bezos: Visionary investments by Amazon’s founder 🚢

Show Notes 📝🎙️

Tune in Now- This episode is packed with invaluable insights and practical tips for entrepreneurs, investors, and anyone looking to enhance their financial and personal growth. 🎧💡

📋 Tax Debt Resolution & Financing Program

For Tax Debts under $100K

💼 Legal Fee Breakdown- Buy-Down Cost: Interest Rate < 10% + Service Fee (% of Total Financing Sought)

Program Overview

📝 Initial Consultation & Assessment

• Free Consultation: Evaluate tax debt, assess CRA notices, devise strategy.

• Financing Eligibility: Check eligibility for 0% interest financing with the Tax Mechanic.

🔍 Engagement & Financing

• Engagement: Sign retainer agreement with the law firm.

• Financing Application: Assist in completing the application with the partner financier.

• Immediate Payout: 100% of fees and tax debt deposited into Lawlignment's trust account upon approval.

⚖️ Legal and Financial Management

🔧 Comprehensive Tax Debt Resolution Services

• Debt Analysis & Negotiation: Development and execution of a tailored legal strategy (e.g., negotiating installment agreements, filing objections, or exploring offers in compromise).

• Ongoing Legal Representation: Representation of clients in dealings with the CRA, ensuring compliance and favorable outcomes.

💳 Client’s Repayment to Financing Company

This program offers a structured and efficient approach to resolving tax debt, ensuring clients receive comprehensive support from initial consultation to final repayment. By leveraging professional legal and financial management, clients can achieve favorable outcomes and clear their tax debts with confidence. 💼

 Access Your CRA Accounts with a Single Sign-In! 🖥️

Canada Revenue Agency | January 15, 2025

Streamlined Sign-In 🏦: This tax season, the CRA introduces a unified sign-in process for My Account, My Business Account, and Represent a Client. 🌐

Key Benefits:

• Single Sign-In: No more multiple logins! 🚀

• Security: Enhanced digital services. 🔐

• User-Friendly: Efficient and responsive to Canadians' needs. 🇨🇦

🌟 New Sign-In Experience 🌟

🔒 Before: > Multiple logins for each portal.

🚀 After: > Access all portals with one login.

CRA Account Services 📊

• Update Personal Information 🔄

• Submit Documents Online 📑

• Direct Deposit Registration 💸

Requirements:

• Age: 16+ 📅

• Device: Camera-enabled 📱

• ID:

  • Canadian Passport 🇨🇦

  • Driver’s License 🚗

  • Photo ID Card 🆔

Enjoy a seamless tax season with CRA’s new sign-in process! 🚀

Dive deeper into the topic.

Simplifying Tax Season with AI

Tax season stress is a thing of the past! Discover how Tax Mechanic’s AI agents can revolutionize your tax experience. Our AI handles:

• Bookkeeping 📚

• Tax Calculations 🧮

• Fraud Detection and More 🔍✨

@taxmechanic

AI agents tax magic' 🪄✨.. save it just in case..... #ai #tax #help #ease #information #tipsandtricks #share #like #viral_video #fyp

All at lightning speed. Save time as our AI processes data 60,000 times faster than the human brain. Manage documents effortlessly and ensure compliance with the latest tax laws. No more manual data entry or tedious calculations—let our AI agents handle the heavy lifting. 🚀

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