Self Employed and Personal Taxes

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Self Employed Taxes

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Personal Taxes

PERSONAL INCOME TAX

Individual Income Tax Services

We provide personal tax services in Canada for simple to complex tax situations.

No matter how simple or complex your tax situation is, we are ready to handle it!

Individual income tax and benefits return (T1) for individuals and couples having employment income
Individual income tax preparation services for self-employed individuals (unincorporated businesses)
Personal tax services for individuals having investment income, rental income, or foreign income
Income tax services for students
Income tax services for new immigrants to Canada or Leavers (Emigrants) from Canada
Income tax return preparation for deceased individuals
Income tax services for non-residents
Real Estate Transactions and Rental Property Tax Considerations
Back filing of Personal Income Taxes – multiple tax years filing
Voluntary Tax Disclosure and Tax Appeals

SELF EMPLOYED TAX

Self-Employed Tax Return

Who it’s for: Self Employed individuals earning income through a sole proprietorship or partnership

A complete package for unincorporated professionals that includes financial and tax consulting services and preparation of your business tax return to help you make informed financial decisions and minimize your tax liability.

What You Get:

T1 Business Income Tax Return
Assistance summarizing and determining eligible expenses/credits
Tax, financial, and budgeting strategies
Personalized tax calendar and email due date reminders
On-going support to answer all your questions throughout the year
General communication and correspondence with the CRA
Electronic filing and CRA receipt confirmation

Personal Income Tax – Let’s Get Started

DO YOU HAVE EVERYTHING TO FILE YOUR TAXES?

PERSONAL INFORMATION AND DEPENDENT INFORMATION

Please complete the client form.

SOURCE OF INCOME

Employment

T4 Statement of Remuneration Paid or RL-1 Employment and other income (QC only)

Self-employment

T5018 Statement of Contract Payment
T4A Statement of Pension, Retirement, Annuity and Other Income
T5013 Statement of Partnership Income

If you earned income from self-employment and you do not have a T slip, please complete the Business Activity Form or hire one of our bookkeepers to calculate your income and expenses for you.

Social Benefits and Employment Insurance

T5007 Statement of benefits – Workers Compensation or Social Assistance benefits
T4E Statement of Employment Insurance and other benefits

Savings and Investments

T5 Statement of Investment Income
T3 Statement of Trust Income Allocations and Designations
T5008 Statement of Securities transactions

Retirement

T4A Statement of Pension, Retirement, Annuity, and other Income
T4A (P) Statement of Canada Pension Plan Benefits
T4(AOS) Statement of Old Age Security
T4RSP Statement of RSP Income
T4RIF Statement of Income from a Registered Income Fund.

Rental Income

Please complete the Rental Property Income and Expenses Form.

Income from property sell

If you received income from selling an investment or rental property that you were not living on it or a principal residence that you lived for less than 12 months. Please complete the Capital gains calculation form.

Foreign Income

Please indicate the full amount of income received outside of Canada. Including retirement income.

EXPENSES RECEIPTS FOR CREDITS AND DEDUCTIONS

Family Expenses

Child Care Expenses
Medical Expenses
Personal attendant/facility care expense
Adoption Expenses
Spousal support payments made (only for eligible individuals).

Work Related Expenses

T2200 or T777S Employment expenses (signed by your employer)
In home office expenses
Tool expenses
Professional fees and Union dues (not included in your T4 slip)
Exams for professional certification
Digital subscriptions expenses
Receipts for classroom and school supplies (for teachers and early childhood educators only).

Homeowners and Landlords Expenses

Capital Cost Allowance (CCA)
Home Accessibility Expenses
Moving Expenses

Student Expenses

Tuition fees – T2202
Student loan interest amounts.

Other Expenses

Charitable Donations
Political Contributions
RRSP Contributions

Source of Income

Did you receive any employment income? If yes, please upload your T4 or any other applicable income slip.

Did you receive income as a self-employed? If yes please upload your T5018, T4A or any other applicable self-employed slip. If you don’t have a slip confirming your income, please indicate ALL your income earned in the past year in the Business Activity Form.

If you received Income from any other sources – Please Upload the T slip applicable (T3, T5, T4A, T4E, T5008, T5007, T4RSP, T4RIF).

Did you sell an investment or rental property that you were not living on it or a principal residence that you lived for less than 12 months. If yes, please complete the Capital gains calculation form.

Are you receiving any rental income? Please complete and upload the rental income and expense form.

Expenses

Did you make any RRSP contribution? If yes, please upload the RRSP contribution receipt.

Did you pay any professional fees or union dues? If yes, please upload the receipt.

Did you pay any tuition fees and/ or interests to a student loans OSAP? Please upload T2202 or student loan receipt.

Did you have any childcare expenses? Please upload the receipt.

Did you have any medical expenses? Please upload the receipt.

Did you make any charity contributions or paid tithing? Please upload the receipt.

Are you allowed to claim home office expenses? Please ask your employer. If yes, upload the T2200 or T777S.

Are you allowed to claim moving expenses? If you moved away 40km from previous place of residence or employment in the last tax year. Please complete the Moving Expenses form. (TO BE PROVIDED BY DANIEL).