Yes! CRA generally allows taxpayers to adjust any tax returns within the last 10 years. In order to make adjustments, you must provide the original receipt. Please note that tax adjustments can take up to 3 months to process, depending on the complexity.
Yes! Even if you do not have any income, you still should file a tax return as you may be entitled to other benefits and credits, such as the GST/HST credit and Trillium benefit.
- For personal returns with no business and no rental, our completion time is 5-8 business days, from the date we receive the information.
- For business and rental tax returns, our completion time is 9-14 business days from the date we receive the information.
- Bookkeeping and HST will be prepared before the HST filing deadline or within 4 weeks of receiving the information.
- We find companies who guarantee a quick turn around time often do not give individuals enough time to provide required documents which could result in missed credits and deductions.
Our rates vary depending on what type of service you are looking for. You may only use us to prepare your income tax returns once a year or you may have us complete your payroll, bookkeeping, financial statements and tax planning, either way we tailor our prices based on your needs. We also offer payment plans or monthly and quarterly subscription-based packages. To give you the most accurate quote, please contact us!
Congratulations, you just sold a property! Maybe it was your principal residence, or maybe it is subject to capital gains. Planning for capital gains right after the sale of a property is the best way to stay organized. We can help prepare a capital gains estimate so that you are able to set aside the appropriate funds in anticipation for the current years’ tax return. If you are unsure whether your property would be subject to capital gains, give us a call!
If your child is under 18 and receives income, yes, they should file a tax return to re-coup any taxes the company may have withheld.
Here is a list of business expense you may be eligible to claim. Please note that some of these require further documentation, and certain limitations may apply.
- Cost of goods sold (purchases, direct wage costs, subcontracts)
- Meals and entertainment
- Bad debts
- Interest and bank charges
- Office expenses
- Office stationery and supplies
- Professional fees (legal and accounting)
- Management and Administration fees
- Repairs and Maintenance
- Salaries, wages and benefits
- Property Taxes
- Travel expenses
- Fuel costs
- Delivery, freight and express
- Motor vehicle expenses
- Use-of-home as an office expenses
- Capital Cost Allowance
If CRA is bugging you, we can help! For many of our current clients, we are listed as the first and main point of contact. This way we are the middle-men between you and the government. This helps prevent miscommunication and frustration between all parties involved.
If you are eligible for the Disability Tax Credit (DTC), or 65 years of age or older, you may be able to claim home accessibility expenses. In order to qualify, these expenses must be performed for you to either gain access or be mobile or functional within your place of residence, or reduce the risk of harm within your residence. Examples of expenses are: installing a ramp, installing an awning to prevent snow and ice build-up on exterior stairs or the installation of a walk-in shower. Contact us to see if you or someone you know would qualify for this credit.
Here is a list of medical expenses you may be eligible to claim. Please note that some of these require the Disability Tax Credit (DTC), a prescription from a doctor, and other limitations may apply.
- Attendant care and care in a facility,
- Care, treatment, and training,
- Construction and renovation,
- Devices, equipment and supplies,
- Gluten-free food products,
- Prescribed drugs, medications, and other substances,
- Service animals,
- Services and fees
- Travel expenses
If you are set up for direct deposit, CRA will deposit your refund within 10-14 business days from the date it was e-filed. If you are not set up for direct deposit, CRA will mail a cheque to you which can take 3-6 weeks to arrive.