Tag Archives: Business Tax Return

Five Income Tax Preparation Tips!

Each year tax season seems to come out of nowhere and we all scramble like mad to get our paperwork in order for our income tax preparation to be done by the Income Tax Accountant. What if it didn’t have to be that way, what if you were organized all along the way? With just a few simple tips you can be well prepared for tax time. You can make your accountant happy and file your income tax preparation with ease. You don’t have to think of everything, in fact you should be consulting the experts at Tax 911 Now. The tax qualified pros at Tax 911 Now serve the Toronto, York region Durham Region and more, helping worried tax payers meet the tax deadline. Let the experts at Tax 911 Now determine which deductions and tax credits are available to you, ensuring you get the best tax result. Claiming all of your deductions and using all of your available tax credits means you will get the biggest tax refund available to you. 

 

  1. Consult a tax professional: if you live in the greater Toronto area consult the pros at Tax 911 Now, let them help you get ready for your income tax preparation.
  2. Create a personalized checklist: Create a checklist of paperwork you need to take to your tax preparer, attach the checklist to a folder and check off the items as you put them in the folder.
  3. Keep tax papers in one place: Set aside a shelf or a drawer where you will keep all of your papers for income tax preparation purpose, that way come tax time you don’t have to look through your entire home or office.
  4. Categorize documents and receipts as you go: buy an expandable file folder and label the tabs, spend a few minutes each week filing your receipts away. This will save you hours or work at income tax preparation time!
  5. Make a list of questions for your Income Tax Accountant: When you think of a question or concern that you have make a note of it, that way when you are ready to come for your income tax preparation. 

 

Don’t let tax season get you down, be prepared for your tax return and get some professional help, Tax 911 Now offers solutions and immediate action to your tax concerns. Tax 911 Now specializes in tax resolution, no matter your situation, we can help. If you live in the greater Toronto area, York Region or Durham Region come for a visit with the tax professionals at Tax 911 Now. Our staff is professional and dedicated to help you with your income tax preparation. Call today, 1-877-918-2991 or come to our office located at 129 Telson Road, Suite # 100, Markham, Ontario, L3R 1E4

Quality Tax Return Help in Canada

We have met many taxpayers who have learned tax lessons the hard way. Taxpayers, who self-prepare tax returns, have a higher risk of making just one critical error on a tax return, to cause big tax problems in the future. 

Tax 911 Now handles a wide range of tax problems including unfiled tax returns. We listen to all tax concerns and devise strategies to ensure the taxpayers not to be in trouble with the Canadian government.

Tax Return Preparation Tips in Canada 

  1. Consults with an excellent tax consultant about your tax return, this will help ensure there will be no worries about having to deal with serious future tax problems. 
  2. Ask Tax 911 Now to be your authorized tax representative and the point of contact for Canada Reserve Agency in the event they have questions. The taxpayer does not normally have to contact the Canada Reserve Agency when a third party is authorized. 
  3. Ask your preparer if that are knowledgeable about interest charged and penalties possibly imposed on the taxpayer. This company may be able to obtain an approval under either the VDP or Taxpayer Relief programs of Canada. 
  4. Taxpayers should not file an amended tax return to correct an error. The Canada Reserve Agency requires taxpayers use a T1-Adjustment Request form. 
  5. Do not risk a penalty by filing taxes after April 30. 
  6. Taxpayer should not show extreme negligent by failing to report income taxes. The penalty for this could cause the taxpayer to pay up 50 percent of your taxes owed. 
  7. Self employed Canadian citizens need to file income taxes by June 15 or risk paying a large penalty. 
  8. If a taxpayer does not have the money to pay to the government they still need to file on time. 
  9. If the taxpayer does not have all their information by the due date. The forms still need to be submitted with the best estimated amount. 
  10. Do not stop paying tax arrears when money is owed on current tax returns. Our professionals can help to deal directly with CRA on your tax debts. 

Tax 911 Now are the expert in tax preparation

Remember, never hand over any financial or personal information to CRA before consulting Tax 911 Now.  Organize all tax related information and call for a tax appointment today at 1-877-918-2991. Stop in to speak with one of our seasoned tax professionals about a return or tax problem. We are located at 129 Telson Road, Suite #100, Markham, Ontario, L3R 1E4, and welcome a visit. We are your key to solving all tax concerns.

Tax Preparation for Individuals and Businesses

Canadian tax rules and guidelines seem to change each year. It seems that tax system is forever complicated. Tax doesn’t have to be a hassle, in fact, with the right tax preparation team, tax season can be downright rewarding. If you live in Toronto or other cities in Canada and are concerned about your tax preparation, here are some tax preparation tips to help make filing your taxes easier. 

 

Toronto Tax Preparation for Individuals

According to the Canada Revenue Agency, some things that could help your tax preparation run a bit smoother are: set up direct deposit, save dependent care receipts, save charitable donation receipts, save retirement savings documents, save student tuition receipts, save first time home buyers documents, and more.

  • Direct Deposit
    Setting up direct deposit helps you be ready when you file your taxes. In some cases, it can even provide a quicker return. File on time to prevent late penalties and delays. 
  • Dependents
    The activities you sign your kids up for may provide additional tax savings, as well as, caring for dependents with physical or mental impairments, so be sure to save your receipts. 
  • Students
    You may be eligible to claim tuition, textbook, education amounts, and student loan interest, so be sure to save your school tuition statement. 
  • Charitable Donations
    Cash, goods, and land donations etc., made to a registered charity may be eligible for tax credits, so be sure to save all donation receipts. 
  • Retirement Savings Plans
    Contributions to your RRSP are tax deductible, so be sure to save all RRSP tax forms. 
  • First Time Homebuyers
    Homebuyers may be able to get tax credits for the purchase of their first home, so be sure to save all paperwork. 

 

Toronto Tax Preparation for Businesses

According to the CRA, business records, whether paper or electronic, must be reliable and complete, contain correct information you need for fulfilling your tax obligations and entitlements, and be sustained by supporting documents such as appointment books, log books, income tax, sales tax, GST/HST returns, tax/harmonized sales tax, scientific research and experimental vouchers and records, and certain accountants working papers. So, be sure to keep accurate accounts of these documents for tax preparation.

 

Tax Accountant Toronto

We are Tax 911 Now, we’re located in Greater Toronto Area, and we have a professional team of tax consultants. Our dedicated team of experienced tax professionals cover a wide range of individual and business tax services including tax return Toronto, late tax filing Toronto, CRA audit Toronto, Tax audit help Toronto, VDP Toronto, tax evasion Toronto, tax amnesty Toronto, tax lawyer, Toronto tax problems, Toronto cra tax appeal Toronto, tax objection Toronto, tax payment plan, Toronto CRA collection Toronto, CRA garnishments Toronto, CRA bank freeze Toronto, tax relief Toronto, taxpayer relief Toronto, and tax consultant Toronto, and more. At Tax 911 Now, we understand all about Toronto’s tax issues, rules, and regulations and are prepared to help you avoid the costly tax preparation mistakes that may trigger an audit. Tax 911 Now services the Toronto, York Region, Durham Region and other regions of Canada. Call us for tax help today for free consultation.

Tax 911 Now
129 Telson Road Suite #100
Markham, Ontario
L3R 1E4
1-877-918-2991