H&R Block correct?

[slowtalon]

I got my taxes done there this year, and I'm wondering about something they told me that kind of fouled me up. I did my own taxes last year but did not include my first 60 days RRSP contributions from 2005, as I wanted to use these towards my 2005 taxes.

When I went to H&R Block, they said that the first 60 days RRSP contribution from 2005 could not be used for my 2005 taxes as the government had changed the rules. The only way I could claim these RRSP's is if they re-filed my 2004 taxes with the 2005 first 60 days contributions.

I figured they knew what they were talking about, so I filed my 2005 taxes with my "rest of the year" 2005 contributions and my first 60 days contributions for 2006.

Are they correct?

[hightech]

I got my taxes done there this year, and I'm wondering about something they told me that kind of fouled me up. I did my own taxes last year but did not include my first 60 days RRSP contributions from 2005, as I wanted to use these towards my 2005 taxes.

When I went to H&R Block, they said that the first 60 days RRSP contribution from 2005 could not be used for my 2005 taxes as the government had changed the rules. The only way I could claim these RRSP's is if they re-filed my 2004 taxes with the 2005 first 60 days contributions.

I figured they knew what they were talking about, so I filed my 2005 taxes with my "rest of the year" 2005 contributions and my first 60 days contributions for 2006.

Are they correct?

Just visit www.cra.gc.ca and have a look what they say. Feel free to give them a call, as that is what they are there for.

I have never had a high view of the H&R Block(head) guys. I say this because when I used to take Accounting/Finance and did my CGA/CA courses, the guys who failed the courses worked at H&R Block!

That was stunning since would you want a guy who barely passes to do your taxes?

Also, these people do little by way of Tax Planning, which is very important. Preparing your return is one thing, but taking steps to minimize your taxes and perhaps save $1000's is what most people (I would think) want.

[slowtalon]

Thanks!

I found this:

For 2005, you can deduct contributions you made to your RRSP from January 1, 1991, to March 1, 2006. You can deduct these contributions if you did not deduct them for any other year, and if they are not more than your RRSP deduction limit for 2005.

-which seems to say I could have claimed it, instead of re-filing my 2004 taxes. I wonder if they would try to charge me for that, grr.

They offer a money-back guarantee if they screw it up on you, so I'd like to get my $40 fee back if possible!

You're right... every time I go, there seem to be people working there who always have to ask for help. This time, I got the person they were all asking for help, so I figured I was safe.

[Bullseye]

You're right, they're wrong. H&R Block employees are mostly moron rejects who couldn't cut it elsewhere.

[Wall Man]

Thanks!

I found this:

For 2005, you can deduct contributions you made to your RRSP from January 1, 1991, to March 1, 2006. You can deduct these contributions if you did not deduct them for any other year, and if they are not more than your RRSP deduction limit for 2005.

-which seems to say I could have claimed it, instead of re-filing my 2004 taxes. I wonder if they would try to charge me for that, grr.

They offer a money-back guarantee if they screw it up on you, so I'd like to get my $40 fee back if possible!

You're right... every time I go, there seem to be people working there who always have to ask for help. This time, I got the person they were all asking for help, so I figured I was safe.

CGA here. That person at H&R Block is wrong. I would say you qualify for the refund. And have them refile, if you still trust them, your 2005 return with the correction.

If you did your return the previous year, why didn't you do it again this year?

[st7860]

$40 fee? wow.. out here in Vancouver HRblock charges about $75 for a simple return.

[hightech]

Been using QuickTax since 2000 and it seems to work pretty well. There are other programs out there but this is one of the most popular.

Another good resource is the CGA Tax Planning Guide available from the local library. There it offers tips and techniques that help you minimize your taxes payable.