Year-End To-do List

Although I’m an accountant by trade, my personal finances can always use a helping hand. One of my resolutions for 2020 is to not procrastinate organizing my paper-work and finances. I started thinking about what this means to me and came up with a to-do list.

The list below is by no means complete, but it’s a good place to start to get organized for preparing our 2019 tax returns and setting ourselves up for success in 2020.

  1. Submit 2019 medical and dental expenses for reimbursement under extended health plan
  2. Contribute to RRSP – deadline to contribute for a 2019 deduction is March 2, 2020
  3. Top-up Tax Free Savings Account – $6,000 new contribution room for 2020
  4. Put all tax information that arrives such as tax slips, investment tax packages, etc. in one place
  5. Collect and organize 2019 donation and medical receipts
  6. Organize and summarize 2019 business and rental income and expenses
  7. Update auto mileage log and summarize auto expenses (if eligible to claim auto expenses)
  8. Review ability to claim home office expenses and summarize expenses eligible for deduction
  9. Review 2019 spending and create budget for 2020
  10. Review and set saving goals for 2020. 

Happy organizing, budgeting and planning!

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