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7| The IFP -H alton H ills | T hursday,January 18,2018 theifp.ca Furnace Air Conditioning Gaslines Boilers Water Heaters Radiant Heating 905-877-3100 proud local dealer of Canadian made products .ca • Truck Accessories • Upholstery • Heavy Equipment Glass •Window Tinting 354 Guelph Street, Georgetown 905-873-1655 Wehandleall insurance work. We handle all insurance work. • your window & door professionals • 11 Mountainview Rd., N. Georgetown, ON L7G 4T3 905.873.0236 www.buy-wise.ca info@buy-wise.ca • awarded readers choice 27 times • Visit our showroom Minimum wage hike amounts to little for low-income workers No doubt the increase in minimum wage is welcome news to many and Premier Kathleen Wynne's rebuke of a Tim Hortons franchi- see is admirable to most. However, a closer look at the monetary gain by low income workers is mini- mal. A few simple calcula- tions shows that the differ- ence in take home pay from the initial $11.40 per hour to the new minimum wage of $14, based on a 40-hour work week, is only $51.97. Meanwhile, the in- creased amount of income tax paid to both levels of government on that higher income is $52.03. So in other words, our governments benefit more than does the worker. Perhaps a lowering of the Ontario tax rate, in combination with the in- creased minimum wage by Wynne and her gov- ernment would have giv- en lower income work- ers the additional in- come they need and de- serve. "She giveth and yet she taketh away." Premier Wynne, thanks for noth- ing. Steven Clift • LETTER TO THE EDITOR • THE WAY WE WERE The next time you complain about winter road conditions on your street, imagine how people got around before the arrival of the snowplow. In this 1912 photo, Prince Street in Glen Williams is snowed in. Photo Esquesing Historical Society/Photo As the calendar flips over to 2018, it's approach- ing income tax time. For those filing a per- sonal tax return, the job isn't that onerous - fill out the tax return and wait for Revenue Canada to send you a cheque or direct de- posit to your bank account. But for sole proprietors of small businesses, (which includes farmers), the task is more daunting. I generally take a few sessions at the computer to pull my paperwork togeth- er, ready for my accoun- tant. When my dad was alive he filed the farm income tax. We'd sit down together every few months to go over the books, just so I was familiar, in case he wasn't available. And as it turned out, that was a wise move. He suddenly died on the first of February, 2003. Within weeks, I had to tackle the income tax return for the farm, without him there to guide me. With a farming return, it's wise to use an accoun- tant. There are specific de- ductions that are allowed, and the accountant has the expertise. Dad used the same ac- counting firm for decades, so I was comfortable with them. And being an animal of habit, Dad also kept all his files in a file folder, all in one spot. So between our accoun- tant, and Dad's simple fil- ing method, I felt confident I could pull it together. I sorted the paperwork, made lists of expenses and income, and I bundled the pile of papers together with a huge rubber band. I pulled into the parking lot, and grabbed the bundle of papers. It had been gru- eling to get 'em together, but I felt organized. Turning toward the ac- countant's office, I felt the bundle move, and a sicken- ing knot went through my gut as the big rubber band snapped, and the papers landed on the ground, blowing across the parking lot. I ran after them, and grabbed the loose papers and threw them in a heap in the back seat of the car. I said several bad words as I assembled them again. Now I believe there's no such thing as a bad experi- ence - so long as you learn from it. And the next year, I had the farm books organized on an Excel worksheet, with the months across the top, and the income and disbursements down the left side with totals on the right. The paper invoices were sorted in an accordi- on file, assembled in the same order as the Excel worksheet listed them. It was a work of art. And over the years, that origi- nal worksheet has become specific to my farm opera- tion. Using Excel is like play- ing a game. I enter the fig- ures in the top of the sheet and the calculations trickle down to the final numbers at the bottom. At any given time, I know exactly where the farm stands financially. I can search for a pur- chase or event from previ- ous years in seconds - the benefits are endless. Years ago, I received a huge compliment. I went to the accoun- tant's office to sign my file, and my accordion file wasn't available. The re- ceptionist contacted the ac- countant who brought them to me. As I signed the return, she admitted to holding my files on purpose to see me when I came in. "I just wanted to thank you for filing such an orga- nized return," she said, "So often we receive a grocery bag full of invoices from a client, and are expected to sort it all out. Yours is won- derful." As the days count down, and T-slips start arriving in the mail, I know I'll soon be at the desk, getting ready to file. It's kinda satisfying sorting the files and latch- ing that accordion folder shut. Especially knowing it's not gonna blow away across the parking lot. - Freelance writer Ted Brown can be reached at tedbit@hotmail.com. OPINION Watching your income taxes blow across the parking lot You can find a sense of satisfaction doing your taxes, writes Ted Brown TED BROWN Column