Fabi Professional Services

03/04/2025

What is a tax refund?
Tax Refund is Not a Benefit! A tax refund isn’t free money—it’s simply the government returning what you overpaid in taxes throughout the year.
This overpayment can occur due to several reasons, including:
✅ Excess Tax Withholding – Your employer deducts more tax from your paycheck than necessary.
✅ Eligible Deductions & Credits – You claim deductions (e.g., RRSP contributions, medical expenses) or tax credits (e.g., tuition, childcare) that reduce your taxable income.
✅ Overpaid Installments – If you're self-employed or pay tax in installments, you may have sent more than required.

While a refund feels like a bonus, it actually means you gave the government an interest-free loan. Proper tax planning can help you keep more of your money throughout the year instead of waiting for a refund! Email [email protected] or call 306.203.0143

Send a message to learn more

02/28/2025

Is RRSP Right for You?

March 3, 2025, is the deadline for 2024 RRSP contributions, but RRSPs aren’t for everyone. If you expect a higher income in the future, saving contribution room for later may be smarter. If you're in a lower tax bracket, a TFSA might be a better option for tax-free growth. Need guidance? We can help you make the right choice!

[email protected]
(306)203-0143
Contact us today!

Send a message to learn more

02/27/2025

Meet the team behind your tax returns!
As a husband-and-wife duo, we are committed to making tax season stress-free for you. With our expertise, we ensure accurate filings, maximize your refund, and help you stay compliant. Let us handle the numbers while you focus on what matters most!

Email [email protected] ; Call, or Text 306.203.0143 to get started!

02/27/2025

When an individual has multiple T4 slips from different employers, they may end up with a tax owing balance for several reasons:

Insufficient Tax Withholding – Each employer deducts taxes based on the assumption that the income earned from them is the individual's only income. They may not account for additional income from other jobs, leading to under-withholding of taxes overall.

Higher Tax Bracket – Income from multiple jobs is combined when filing a tax return. If the total income pushes the individual into a higher tax bracket, they may owe additional taxes because the withholdings from each job were calculated at a lower rate.

Loss of Tax Credits – Some tax credits, such as the Basic Personal Amount, are automatically applied by an employer when deducting taxes. If multiple employers apply this credit, the total tax deducted may be too low, resulting in a balance owing at tax time.

CPP and EI Contributions – If an individual works multiple jobs, each employer withholds Canada Pension Plan (CPP) and Employment Insurance (EI) contributions separately. If excess amounts are deducted, EI overpayments are refunded, but CPP underpayments could lead to additional amounts owing.

To avoid tax owing, individuals with multiple T4s can request additional tax deductions from their employers using Form TD1 or make voluntary tax payments throughout the year.

Send a message to learn more

02/16/2025

https://www.facebook.com/share/p/182A8orFaL/

🌹 Fall in Love with Our Upcoming Pop-Up Wedding! 💍

Dreaming of a beautiful wedding without the stress? We’ve got you covered!

Join us for an upcoming Pop-Up wedding experience where we take care of everything, so you can focus on celebrating your love! 💖

What's Included:
✨ Venue
✨ Photographer
✨ Setup & Backdrop
✨ Officiant/Commissioner
✨ Event Planner & On-the-Day Coordinator

Let us make your special day effortless and unforgettable.

Reserve your spot for our next Pop-Up Wedding!

01/12/2025

Take a break and immerse yourself in the cozy tradition of Fika, a cherished Swedish ritual of enjoying coffee and pastries while connecting with friends, family, or colleagues.

This insightful BBC video beautifully captures the essence of slowing down, savoring the moment, and prioritizing meaningful interactions—something we all could use more of in our busy lives.

Watch and be inspired to bring a little Fika into your day!

In Sweden, a coffee break is more than just a quick hit of caffeine.Known as a ‘fika’, the Swedish coffee break is a longstanding tradition – a time to slow ...

12/14/2024

🌟 Life Changes? Don’t Forget About These Tax Benefits! 🌟

Life happens—and your taxes should reflect it! Here are 5 life events that could qualify you for special credits or deductions:

1️⃣ Got Married? 💍 – Combining incomes may open up new tax benefits like spousal credits or income splitting opportunities.

2️⃣ Welcomed a Baby? 👶 – You could claim child care expenses, Canada Child Benefit (CCB), and more!

3️⃣ Bought Your First Home? 🏠 – Take advantage of the First-Time Home Buyer’s Tax Credit and possibly withdraw from your RRSP for your down payment tax-free!

4️⃣ Retired? 🎉 – Pension splitting and age credits can help reduce your taxable income in retirement.

5️⃣ Started a Side Hustle? 💼 – Claim business expenses like equipment, home office, or even your internet bills!

✨ Pro Tip: Tax laws change along with your life. Stay ahead by consulting a professional (that’s me!) to ensure you’re getting every credit you deserve.

👉 Don’t wait until tax season—reach out now to plan ahead! Hit LIKE 👍 and SHARE this post with someone whose life just got exciting.

💬 Questions? Let’s talk! Comment below or DM me for a quick chat. 📩

12/07/2024

🌿 Celebrate Love in Your Perfect Setting 🌿
Whether it’s a lakeside pontoon, a charming backyard, or a sophisticated venue, I am here to officiate your wedding wherever your heart leads you. Your love, your story, your day—let’s make it extraordinary! 💞
💌 Message me to schedule your ceremony and let the planning begin!

12/02/2024

The First Home Savings Account (FHSA) offers prospective first-time home buyers the ability to save $40,000 tax-free. Like registered retirement savings plans (RRSP), contributions to an FHSA would be tax deductible. Like tax-free savings accounts (TFSA), income and gains inside an FHSA as well as withdrawals would be tax-free.

Click the link to answer to top questions on FHSA:

The Tax-Free First Home Savings Account (FHSA) was first proposed in Budget 2022. A backgrounder1 and draft legislation was released on August 9, 2022, which provided more details on the plan’s design. On November 4, 2022, the revised legislation was released as part of Bill C-32 (Fall Economic St...

11/30/2024

💡 Did You Know? These Tax Credits Could Make a Big Difference! 💡

Tax season doesn’t have to be stressful. Here are 5 overlooked tax strategies that could put more money back in your pocket:

1️⃣ Pension Income Splitting – If you or your spouse receive eligible pension income, you might save big on taxes by splitting it! 👵👴

2️⃣ Home Office Deduction – Working from home? Don’t miss out on claiming a portion of your utilities, internet, and more! 🏠💻

3️⃣ RRSP Contributions – Maxing out your RRSP before the deadline can lower your taxable income and grow your retirement savings. 📈

4️⃣ Tuition and Education Amounts – Students and parents, tuition credits can be carried forward or transferred. 📚

5️⃣ Volunteer Firefighter or Search and Rescue Credit – Thank you for your service! Claim this credit if you’ve dedicated time to these essential roles. 🚒

✨ Bonus Tip: Keep your receipts organized throughout the year to avoid missing out on potential claims.

👉 Let me help you maximize your tax return and get what’s rightfully yours. Hit LIKE if these tips are helpful, and SHARE to spread the savings!

💬 Have questions about your specific situation? Comment below or DM me for personalized guidance. 📩

11/26/2024

💐 Every Love Story Deserves a Perfect Beginning 💐
As your Marriage Commissioner, I offer flexibility and expertise to ensure your ceremony is as unique as your love. From traditional vows to modern celebrations, I am committed to crafting moments that will be cherished forever.
📍 Available for weddings across Saskatchewan.
Let’s make magic together—contact me for more details! ✨💒

11/23/2024

Are You Missing Out on Tax Savings? 💰

Every year, Canadians leave money on the table by overlooking common tax credits and deductions! 🧾 Don’t let that be you. Here are some frequently missed opportunities to lower your taxes:

1️⃣ Medical Expenses – From prescriptions to dental work, even gluten-free products (if prescribed)!

2️⃣ Disability Tax Credit (DTC) – For those with severe, prolonged impairments. Transferable to a relative if unused! 💡

3️⃣ Canada Workers Benefit (CWB) – Low-income workers, this refundable credit is for YOU!

4️⃣ Child Care Expenses – Daycare, nannies, and even certain educational programs can count. 👶

5️⃣ Student Loan Interest – Graduates, claim what’s yours! 🎓

6️⃣ Moving Expenses – If you moved for work or school and it’s 40km closer to your new destination, you could qualify! 🚚

7️⃣ Home Accessibility Tax Credit – Renovations for seniors or those with disabilities? Claim them! 🏡

8️⃣ Canada Training Credit – New skills or training? This refundable credit has your back! 🛠️

✨ Pro Tip: Tax laws can be tricky. Consult with a professional (like me 😉) to make sure you’re maximizing your benefits!

👉 Don’t let your hard-earned money go unclaimed. Hit LIKE 👍 if you found this helpful, and SHARE to help others save too!

💬 Have questions? Drop them below or DM me for personalized advice.