Generally, they fall into a category of lower income earners and there are other options that allow them to still save money while maximizing that deduction when they can.
New York, New York (PRWEB) March 02, 2014
Mark Feldstein and Associates today announces the RRSP (Registered Retirement Savings Plan) deadline for Canadians to contribute is quickly approaching this Monday, March 3rd. Business Review releases the chartered accounting firm’s advisement that not all Canadians should be contributing to an RRSP and could be saving money by not doing so.
Mark Feldstein and Associates suggests tax payers with smaller marginal rates should consider using a TFSA or a non-registered investment plan and contribute to an RRSP when grouped in a higher marginal tax rate. “Young people especially should consider different options,” says Mark Feldstein of Mark Feldstein and Associates. “Generally, they fall into a category of lower income earners and there are other options that allow them to still save money while maximizing that deduction when they can. Since debt is at an all-time high, making a contribution and using the refund to pay off any debts could also be beneficial.”
Contributions are accepted online and at any Canada Revenue Agency tax centre. For more information on tax related service, contact http://www.toronto-accountant.ca.
Mark Feldstein & Associates, Chartered Accountants, provide a wide range of professional services to businesses and individuals. To ensure clients receive the best advice in each area, Mark Feldstein & Associates hire only seasoned specialists who, in turn, devote a good portion of their time to upgrading their skills through in-depth professional development. Mark Feldstein has been practicing public accounting and specializing in voluntary disclosure since 1982. He has experience in a wide variety of industries, including retail, manufacturing, importing and exporting, wholesale distribution, technology, restaurants, law firms, engineering firms, architecture firms, education, IT consultants, wealth preservation planning, forensic investigations, internet service providers and construction.
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