Personal Income Tax

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Personal Income Tax


How to Maximize Your Tax Return 


Sometimes preparing your personal tax return can leave you with confusion and frustration.


There are deadlines you need to meet: personal income tax returns, except for those of self-employed individuals, are normally due by April 30th, as is any amount owing.  
 

There are additional costs for being late: penalties and interest may be charged for late returns or late payments. 
 

There are lots of forms to keep an eye on: many people get confused with the different forms needed to be compiled when filing their taxes. 



Our Personal Tax Services



Income

  • T4 - Employment Income
  • T4A - Other Income (e.g. pension, retirement, old age security) 
  • RC62 - Universal Child Care Benefits 
  • T4E - Statement of Employment Insurance 
  • T3 - Statement of Trust income 
  • T5 - Statement of Investment Income 
  • T776 - Rental Income 
  • T4RSP - Statement of RRSP Income 
  • Capital Gains 
  • Self employment income 
  • T5007 - WSIB Income or Social Assistance 
  • Other Income Slips 
  • Foreign Income 
  • Rental Income 


Deductions

  • All child care expenses/camp fees
  • Registered Retirement Savings Plan (RRSP) 
  • Union & professional dues 
  • T2200 - Employment Expenses 
  • Safety deposit box rental/Interest expense 
  • Public transit passes 
  • Home Buyer Plan - RRSP 
  • T2201- Disability Certificate 
  • Interest paid on Student loan 
  • T2002, TL11 - Tuition fees 
  • Medical Expenses 
  • Charitable donations 
  • Property taxes/rent paid    



Other Services

  • Tax audits: we will also assist with any tax audits that may arise. 
  • Back tax return filing: if you happened to miss filing your taxes in previous years we can take care of that for you 
  • Rental Properties: Whether you own one or more income properties, we have the knowledge on how to lower your taxable income. 
  • Death Taxes: There can be up to three different tax returns that can be filed on behalf of a deceased family member in order to lower their taxable income and save them money. Let us help you in your time of need. 
  • Trust Returns: Leave it to the professionals to help you file your family trust or an “estate ” trust return. 
     

Our experience and knowledge of tax laws will support you with all of your accounting and income tax preparation needs.  



Book Your Appointment Today


Schedule an appointment today for a complimentary, no-cost, no obligation initial consultation with one of our friendly income tax and bookkeeping professionals. Give us a call at 613- 421-7065