Personal Income Taxes

With years of tax return preparation experience, we welcome the opportunity to assist you in preparing your Personal (T1) returns.

At A4 Tax & Accounting Professional Corporation, we are committed to providing personal tax services that provide our clients with the most beneficial tax treatment to ensure no unnecessary tax is paid. Our team is completely versed in all applicable tax rules and legislation. It works to understand individual and family situations’ financial and tax implications to reduce tax burdens and maximize benefits.

We prefer to take a proactive vs. reactive approach to tax services. By keeping current on new tax laws and legislation, we are in a position to identify key tax planning opportunities that minimize both your current and future tax liabilities. We provide our clients with the taxation expertise and knowledge to count on throughout the year. Tax services offered include:

Tax Preparation

Our significant investment in computerized tax preparation and research software enables us to prepare returns accurately and efficiently for individuals, sole proprietorships, partnerships, trusts and estates.

• Accurate returns through the use of CRA approved software
• Tax planning

T1 Returns

• Residents of Canada for part or all of the year
• Individuals receiving income from employment, investments and private or government pensions
• Children who earn money through babysitting, paper routes, etc
• Terminal returns for individuals deceased during the year
• Optional returns for deceased individuals (based on the facts in each situation)

During Tax Season

• Gathering of slips and documentation
• Analysis of your tax situation to ensure that no claim has been overlooked
• Preparation of entire family’s returns (including spouse and children)
• Preparation of your HST return if you are self-employed
• Optimizing family income splitting
• Timely filing of elections
• Electronic filing of returns
• Preparation of Foreign Income Verification Statement if applicable

After-Tax Season

• Verification of accuracy of Notice of Assessments
• Preparation of adjustments to previous years’ filings as required
• Handling of correspondence with CRA in the event of an e-file audit or pre-assessment review
• Communicating with CRA on a variety of issues requiring immediate attention
• Paying installments for clients who are out of the country
• Ongoing discussions regarding tax planning strategies that may present themselves throughout the year

Tax Planning

Strategic tax planning is the key to meeting your personal goals. We can help you minimize and or defer taxes by developing a tax plan customized to your individual needs. Our team understands the importance of setting your retirement goals to best match your current earnings with tax-deferred savings. We also understand the importance of saving for your children’s education. We can help you use RRSPs, RESPs, and Tax-Free Savings Accounts to their best advantage.

Contact us today by email or call us at 416-243-2096 for more information about how we can help with your tax planning and preparation.