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Family life

Week 13's tax tip: Get a jump start on next year's return

Get on top of tax season with our weekly task and tip

By Erin Pooley
Week 13's tax tip: Get a jump start on next year's return

Join us each week for a to-do and helpful tips so you'll be ready for tax season and save money this year!

This week's task and tip:

Get a jump-start on next year’s return: It’s never too early to get organized for next year’s tax deadline! If you haven’t done so already, apply for a social insurance number for child. Your little one may not be earning an income yet, but a SIN will allow you to open an RESP to start saving for their education. Parents can also open up an investment account in their son or daughter’s name and watch contributions from doting grandparents grow.

The complete list of to-dos and tips:

Check out week one's tax to-do: Find the right accountant for your family's needs
Check out week two's tax to-do and tip: Create the perfect organization system
Check out week three's tax to-do and tip: Check your tax check list
Check out week four's tax to-do and tip: Round up your kids' activity receipts
Check out week five's tax to-do and tip: Sort out your family's medical expenses
Check out week six's tax to-do and tip: Get your kids rental receipts and tuition slips

Check out week seven's tax to-do and tip: Request donation receipts
Check out week eight's tax to-do and tip: Track your trades
Check out week nine's tax to-do and tip: Write-off home office expenses
Check out week 10's tax to-do and tip: Stay informed of tax changes
Check out week 11's tax to-do and tip: Inform your accountant of major life changes
Check out week 12's tax to-do and tip: Submit everything at the same time

This article was originally published on Jan 19, 2012

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