The Mogo Blog

What Happens If I File My Taxes Late?

Y’all seen that tax episode of the Simpsons? “The Trouble with Trillions”? Flanders files his taxes on January 1, cuz he’s Flanders. On April 15, Homer’s watching the news coverage of the huge lines at the post office, where everyone’s scrambling to file before the midnight deadline. And Homer says, “will ya look at those morons? I paid my taxes over a year ago!” Don’t be like Homer, sweet friends. But don’t be like Flanders, ‘cause he’s a narc. Be yourself, or, the version of yourself you’d be if you were always on time with your taxes. Why? Because filing late can get you in trouble and cost you money. Here are the dates you cannot miss and what might happen if you do. PS: we get our info from the CRA. Check out this page for more detailed info. Important Canadian Tax Deadlines 2020Depending on the kind of taxes you file, you may have a different submission deadline. Deadline for RRSP, PRPP, or SPP ContributionsThe government allows us to make contributions to some tax deferred savings accounts for the tax year that ends on December 31 until March 1 of the

Tax Time Crunch Is Here: 3 Savings Tips

Well – here we are. It’s getting late in April, and that means the deadline for doing your taxes is nearly here! Avoid any unnecessary fees – or hopefully get a good return – by filing before the April 30, 2011 deadline in Canada. It’s been said that ‘the only two things that are guaranteed in life are death and taxes‘. That really feels true during this time of year. But don’t sweat it. There is still time to complete your return and do it as cost-effectively as possible. Whether you’re a tax expert, or a total noob, there are some ways to ensure you’re only paying what you need to during this time of year. Tax Tips: Keep your receipts and know your deductions You know when co-workers are canvasing for their kids and you make a donation? Find out of those were tax deductible. Those receipts will be great for putting towards your return. Got bus passes? Bring them in as well. Every little bit helps during tax time, so check out the great resources online and make sure you’re getting the best possible return. Do it yourself If you’re a tax expert, have