Individuals / Families
http://www.cra-arc.gc.ca/ndvdls-fmls/menu-eng.html
Businesses / HST / Payments
http://www.cra-arc.gc.ca/bsnsss/menu-eng.html
In order to ensure that you have all the necessary paperwork to accurately complete your personal tax return, please review the checklist below.
New clients are also advised to bring in the following:
EMPLOYMENT INCOME
T4 Slips – Employment/Commission Income
T4A Slips – Other Income
INVESTMENT INCOME
T5 Slips – Dividend Income
T3 Slips – Income from Trusts
Gains/Losses on Sale of Stock/Capital Properties
T4PS – Employee Profit Sharing Plan
Other Investment Income
OTHER INCOME
OAS Slips – Old Age Security Pension
T4AP Slips – Canada Pension Plan Income
T4E – Employment Insurance Income
T4A – Other Pension Benefits
Alimony/Child Support Payments
Disability Benefits
T4RSP/T4RIF – Withdrawls from RRSP/RRIF
T5007 – Social Assistance
T5007 – Workers’ Compensation Benefits WSIB
DEDUCTIONS
RRSP Contribution Slips
Professional, Association or Union Dues
Child Care Expense Receipts with Caregiver’s SIN
Alimony/Child Support Payments
Safety Deposit Box Rental
Interest Cost of Investment Loans
Expenses to Earn Commission/Employment Income
T2200 Signed by Employer
Vehicle Expenses for Business Mileage
Moving Expenses & Location Details
TAX CREDITS
Charitable Donation Receipts
Medical Expenses
Child Fitness Receipts
T2202 – Tuition for Self or Dependents
Interest Paid on Student Loan
Rental Payments or Property Taxes Paid
T5006 – Labour Sponsored Funds Tax Credit
EMPLOYMENT INCOME
Employment, Commission or Fees
T4A Slips
OPERATING EXPENSES
Opening Inventory
Purchases (Net of Returns, Allowances, Discounts)
Subcontracts
Direct Wage Costs
Other Costs
Closing Inventory
BUSINESS EXPENSES
Advertising
Bad Debts
Business Tax, Fees, Licenses, and/or Dues
Memberships and Subscriptions
Delivery, Freight, and Express
Fuel Costs (NOT including Motor Vehicle)
Insurance
Interest
Maintenance & Repairs
Meals & Entertainment
Motor Vehicle Expenses:
- Fuel & Oil - Maintenance & Repairs
- Insurance - License & Registration Fees
- Leasing - Interest Paid on Loan
Office Expenses & Supplies
Legal, Accounting & Other Professional Fees
Property Taxes
Travel
Telephone & Utilities
Convention Fees
Private Health Service Plan Premiums
Reserves
Terminal Loss
Allowance on Eligible Capital Property
Capital Cost Allowance
BUSINESS-USE-OF-HOME EXPENSES
Heat
Electricity
Insurance
Maintenance
Mortgage Interest
Property Taxes
As soon as you start to think about your business, an accountant can help you take the next steps. We can discuss your business's organization, tax purposes and operations, along with target pricing and profit margins.
Get some impartial advice from an accountant before you consult the bank. A bank will want to see a strong business plan and organized records. Let us help you get ready for your business's next step!
Does your accountant return your calls? Do you feel comfortable asking them a question? Do you feel heard? With the right accountant, the answers should be a resounding "Yes!"
Copyright © 2021 Emily C. Larimer CPA, CGA,. All Rights Reserved.
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