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Saturday, December 13, 2014

20 Free Tax Secrets for Canadians

I'm about to download this free book called "20 Free Tax Secrets for Canadians" by Allan Madan, and I thought it might be of interest to some of you readers as well. If so, click here to read more about this book and/or download it. It's pretty short - under 4,000 words - but what sold me is that one of the reviews describes the writing style as "conversational". In other words, those of us who are not CPAs can understand it.


  1. I have been enjoying reading through your blog. Thank you for your clear writing on interesting topics. I have a problem presently. My uncle passed away and we don't know if he is intestate or has a will. He had a joint safety deposit box with his sister who passed away a year earlier in the U.S. I've given the Ontario bank his death certificate, but the trustee for my aunt's estate in Calif. refuses to send her certificate so bank officials can open the box to search for a possible will. I talked to a lawyer here in Ontario and he said hire a lawyer in Calif. Is there no other way to get this death certificate or get officials to look in the box for a will? His farm buildings need looking after and I know he has tax issues which need immediate attention. I'm involved because I helped take care of my uncle his last few years and took care of funeral arrangements. Can't the bank or Ontario legal system do something here?

  2. Dear Lynne: In addition to the Executor's out-of-pocket expenses and the Executor's fees of 5%, does the estate have to pay for the "accountant's fees for the Executor's T-4 slip & summary balance for distribution"? Thank you for your time and response.

    1. If the accountant did work for the executor on behalf of the estate, then yes the estate has to pay for it. Issuing T-4 slips is something an executor would hire an accountant to do. However, the "summary balance for distribution" sounds like a statement of proposed distribution that forms part of the executor's final accounting that is presented to beneficiaries at the time a release is requested. While there is no reason why an executor cannot hire an accountant to do that particular task, in my view the cost of the accountant should come out of the executor's fee. This is because producing an accounting or statement of proposed distribution is the job of the executor. If he is charging 5% - which is the highest end of the scale - as well as asking the beneficiaries to pay the accountant to prepare the executor's accounting, then the beneficiaries are paying twice for the same item. I think the executor's fee should be reduced, but it's hard to say by how much when I don't know how much work, risk, and effort were involved in the estate as a whole.


  3. This is a great thing regarding taxes, everyone should get benefit.

  4. Many people would be searching this kind of information in which one can save taxes.

  5. This type of information helps many people.I am sure this will help many who wants to save taxes.


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