Personal tax
Returns for business owners, their partners and their kids at college or university, prepared by the person who knows the company side. Sole proprietor income, rental properties and instalments go in the same file.
- Personal return from $175
- Sole proprietor from $450
- Rental schedule from $150
Owners and families
If we look after your company, your personal return is prepared alongside it, so your salary, dividends and any shareholder loan appear the same way in both. We also prepare returns for spouses and partners, and for kids with a first job or tuition slips. A household's returns are prepared together, so credits that can be shared or transferred are looked at across the family.
What to bring
- T4
- Employment income, including the salary from your company
- T5
- Dividends and interest, including dividends from your company
- T3
- Income from mutual funds and trusts
- T4A, T4A(P)
- Pension, CPP and other income
- T2202
- Tuition for a student in the family
- RRSP, FHSA
- Contribution receipts
- Receipts
- Medical, childcare and charitable donations
- Last notice
- Last year's notice of assessment, if you're new to us
Sole proprietor income
Freelancers, tradespeople and consultants who aren't incorporated report business income on a statement of business activities (form T2125) inside the personal return. Your return is due June 15, but any balance owing is still due April 30, so we aim to have the numbers ready before then.
We prepare
- The T2125 statement of business activities
- Vehicle and home-office portions from your logs and bills
- Capital cost allowance on equipment and vehicles
- The HST return, if you charge HST
- CPP on your self-employment earnings
You bring
- Sales records or invoices for the year
- Business bank and card statements
- A vehicle log, if you claim a vehicle
- Home-office measurements and utility bills
- Receipts for equipment over $500
Rental income
A basement apartment, a cottage rented out in summer, or a condo held as an investment: rental income goes on form T776. We separate personal and rental use, split income and expenses between co-owners, and keep the building's capital cost allowance schedule from one year to the next.
For each property
- Rent received, month by month
- The mortgage interest statement (interest, not the full payment)
- Property tax, insurance and utility bills
- Repairs, with their receipts
- The ownership split, if it's shared
Added to a personal return from $150 per property.
Instalments
If the tax you owe at filing time is more than $3,000 this year and in either of the two years before, the CRA expects it paid during the year in instalments. Owners who take dividends, or who have rental or self-employment income, often land here. We work out the amounts with you and put the dates in your January calendar.
- Q1Mar 15
- Q2Jun 15
- Q3Sep 15
- Q4Dec 15
What we refer out
Some work belongs with a different kind of firm. We don't take it on, and we're glad to give you the names of firms that do.
- Audits and review engagementsAssurance work for boards, investors or funders.
- Compiled statements for lendersStatements a bank or landlord asks for under a compilation engagement.
- US and cross-border returnsUS citizens in Canada, US property or US business income.
- Estates and trustsFinal returns, estate returns and trust returns.
Spring comes around fast
Tell us who in the household needs a return, and we'll send the list of what to bring.
General information only, not professional advice; contacting us does not create a client relationship.