Income Tax tip for Busy Teachers

I had a conversation with some colleagues this week concerning income tax instalments, paid quarterly.They were remarking how "painful" writing that check can be.

A few years ago, the fine folks at Revenue Canada and I came up with the weekly pay plan. It works like this. Divide your upcoming tax liability by 52. Tell Revenue Canada to withdraw this amount weekly from your bank account. They will be happy to oblige over the phone.

Cheers,

David