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Thursday, April 25, 2013

Tips on Filling out the CLAIMS FORM

 

Filling out your claims form is the first step to saving money. Here are some quick tips that will ensure it is filled out correctly:

  • You have a choice of the online form, or the older ‘excel’ style form noted just to the right of the online button.
  • Fill in your first and last name
  • Check the owner or employee box
  • If you are claiming for  a dependent fill in the required fields
  • When filling out the table make sure to fill in the name of the person claiming the expense the date and the amount, do not group similar expenses if they are in different years.
  • If you have more expenses then allotted lines, continue on another claim statement and cross out any additional ten dollar fee.
  • When filling out the online claim form online, be sure not to enter more than seventeen items on one form. If you have more than seventeen items, fill out an additional form.
  • Make sure to send in your original receipts with your claim so we can process it.
  • To ensure you get the fastest turnaround please include a cheque written to Corporate Care for the amount claimed plus the 5% admin fee plus ten dollars (GST on the admin fee and ten dollars) and include a ‘voided’ cheque for direct deposit back to you.

By following these quick tips you can make your medical expenses one hundred percent deductible as a business expense.

 

Tags:   Tips  CLAIMS  FORM PHSP 

Posted by Margaret Koniuck at 11:23 AM 0 Comments

Thursday, April 11, 2013

Tax Pain?

 Tax season is here and for most business owners it is not the most enjoyable season of the year. CorporateCare is here to save you thousands of dollars through the use of PHSPs (Private Health Service Plans). Canada Revenue Agency implemented this plan to provide employers with a way to pay for their employees and families medical expenses tax free. Essentially what a PHSP does is transfer out of pocket expenses into a business deduction. Here is a list of some of the things you are able to claim as a medical expense:

  • Massage (Licensed Therapist)
  • Dental
  • Prescription Medicine
  • Optometrists

There is no reason not to take advantage of this as a business owner.  For more information, click the How Does It Work tab from the home page.

 

Posted by Margaret Koniuck at 3:33 PM 0 Comments