About: kelownatax

Child care tax deduction increase from $7,000 to $8,000 for children under age 7, and from $4000 to $5,000 for children age 7 to 16. Read More...

New tax rules for the 2014 tax year now allow families to split income between spouses where one spouse earns significantly more than the other. Up to $50,000 of earning can be transferred from the higher earner’s taxable income to the lower earner’s. Couples with children can save up to $2000 per couple with the…