With years of tax return preparation experience, I welcome the opportunity to assist you with the preparation of your Personal (T1) returns, Corporate (T2) returns or Trust (T3) returns, as well as T4, T5 and T3.
T1 Returns include:
- Residents of Canada for part or all of the year
- Individuals receiving income from employment, investments and private or government pensions
- Terminal returns for individuals deceased during the year
- Optional returns for deceased individuals (based on the facts in each situation)
We are proficient in providing the following services relating to your tax filing:
During Tax Season
- Gathering of slips and documentation and an analysis of your personal tax situation to ensure that no claim has been overlooked
- Preparation of entire family’s returns (including spouse and children)
- Preparation of your HST return if you are self employed
- Optimizing family income splitting
- Timely filing of elections
- Electronic filing of returns
- Preparation of Foreign Income Verification Statement if applicable
After Tax Season
- Verification of accuracy of Notice of Assessments
- Preparation of adjustments to previous years’ filings as required
- Handling of correspondence with CRA in the event of an e-file audit or pre-assessment review
- Communicating with CRA on a variety of issues requiring immediate attention
- Paying instalments for clients who are out of the country
- Ongoing discussions with clients regarding tax planning strategies that may present themselves throughout the year
Corporate T2 tax returns
- The preparation of the T2 return can be done in conjunction with the year-end financial statements preparation or on a stand-alone basis, ie if the financial statement is prepared in-house or by your bookkeeper with no further adjustments.
- I optimize your tax advantage by ensuring proper classification of asset purchases to maximize your annual CCA deduction, small business deduction planning within associated corporations, reserves for uncollectible amounts, refundable dividend taxes and all other pertinent deductions.
- Foreign reporting T1134 and T1134 may be required when dealing with either foreign property or controlled foreign affiliates.
T3 tax returns
Family trusts may be required to file an annual return if the trust has earned any taxable income, sold property or made distributions, capital or income to its beneficiaries. T3 slips may need to be issued prior to March 31 and annual return filing may be required by March 31.