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Rawski & Company
Chartered Professional Accountants,
Professional Accounting Firm, Professional Corporation
201-9488-51 Avenue, Edmonton, Alberta, T6E 5A6
780-761-1115
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Rawski & Company
Chartered Professional Accountants, Professional Accounting Firm, Professional Corporation 201-9488-51 Avenue, Edmonton, Alberta, T6E 5A6 780-761-1115 |
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The following article was first published in the St. Albert Gazette:
| EXPERT OPINION | ||
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Is the Family Tax Cut still in existence for the 2015 tax season? The Family Tax Cut still exists for 2015 tax return filings. This means that married or common law couples who lived throughout the year with a child who is under 18 years of age can potentially benefit from this tax credit. The credit reduces the tax payable of the higher income spouse by up to $2,000 if the spouses are in different tax brackets. The Alberta median Family income for 2014 was about $100,000 combined. So, let’s run some scenarios to see how this works. If both parents work and make$50,000 each; then, their family tax cut savings is $NIL because both parents are in the same tax bracket. If one parent works and makes $100,000 and the other parent stays home; then, the family tax cut savings is $2,000 cash. If one parent makes $70,000 full time and the other makes $30,000 part-time; then, the family tax cut savings is about $1,000. Call us for your Canadian and USA tax preparation. © - Jacob Rawski, 2015 |
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Head office:Elm Business Park, Building #1,201-9488-51 Avenue, Edmonton, Alberta, T6E 5A6 |
Telephone: 780-761-1115info@rawski.ca |
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