Amazyn Tax Consulting

Leon started his home-based firm in 2012 (and the Breakfast Club in 2014) after starting a family, and now has hundreds of clients.

Leon offers a 10 year tax review service, and he's seen a LOT. From farm combines to RRSPs to capital gains, he loves investigating and uncovering and he just might be able to save you money. In one case, he recovered $35,000 for a client!

For the 2022 tax year, the home renovation tax credit (which ran from Oct, 2020 to this year) can be applied even if you missed it. Even if you think something like shingles is maintenance, you might still be able to use it!

For corporations, the low rate was temporarily decreased from 2% to 0, but on July 1 it'll be 1% and then back to 3l2% on July 1, 2024. This applies to businesses under $650,000. The COVID business loan can be repaid by the end of this year in order to receive the forgiveness bonus and get $20,000.

Lastly, Leon showed us expensing tips for business and personal taxes, including boutique tax credits like first time home savings account, residential flipping, and labour mobility for trades. Interesting note on tax planning: reporting low tax every year may not be in your best interest!