Tax Time

Adam seems to have returned to his Good Baby status and his relatively predictable schedule. There were two nights when he didn’t sleep at all and wanted to eat, eat, eat. I think it might have been his 3 week growth spurt – does anyone know how long that would last? Does two days (and nights) seem right? Or should I brace myself for more?

Anyhoo, Mama is getting some sleep and spent this morning organizing tax information. For 2009, the Canadian government is offering a tax credit for home renovations. There’s an unnessarily complex list of what if eligible and what is not (e.g. blinds, yes! curtains, no!) and since moving to our house last summer, we’ve been renovating constantly. We’ve spent about $10,600 on renovations and after checking every item on every receipt, I found we will max out the $10,000 tax credit… with $10,316 worth of deductions from 385 items. This means that the tax credit will cover anything we owe up to $1350 (we don’t get anything above or beyond that but not paying is almost as good as free money).

I’m hoping to finish our taxes tonight. The rest should be easy, with maybe some confusion with obscure clergy deductions and special forms, but then it will be done!

Anyone else excited about tax time? Am I a giant tax nerd?

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5 Comments

Filed under Renovations

5 responses to “Tax Time

  1. Oh I love tax time! I do my own taxes through QuickTax with 20% off and charge family and friends $20 to file theirs. It’s so easy!!!

    We get our refund tomorrow, but it’s all going to debt repayment and fixing our van. Even though we aren’t going to “enjoy” it I’m happy to be applying it to these things.

  2. I used to be a tax time nerd. But because now I have a business, we have to hire accountants this year since my husband and I have no idea how to go about starting tax files for a business.

    I didn’t even know that blinds were covered under home reno! Ugh… if I knew I would have replaced all the old crappy ones we were given from the previous owner. Oh well… no home reno credits for us this year or next. Government needs to bring back the home reno credit for 2010! Lazy people like me need it!

  3. Canadian Home

    I wouldn’t mind the tax credit making a return for 2010. I know we’d certainly take advantage of it!

  4. Pingback: Tax Fiasco « Canadian Home

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