The April 30 deadline for filing one’s personal income tax is fast approaching.
Notably, that is also the deadline for those who are self-employed to pay any tax owing from 2018 if they want to avoid penalties. Otherwise, self-employed individuals have until June 17 to file their income tax forms.
At Canwest Accounting, March and April are extremely busy for preparing income tax returns. They urge clients to get their paperwork into them by April 16 so they can prepare their income tax forms and file these before the deadline. Sometimes filing can be slowed down by a missing form.
“It’s never something someone expects will happen when collecting and dropping off their slips and receipts to us, but it does happen and it can create a worrisome delay until either it is found or a new one can be generated,” said Sharlane Bailey, Owner of Canwest Accounting with offices in Victoria and Langford. “That’s why we recommend ensuring you have your receipts, forms and statements in order before the end of March.”
By mid-March, most people can expect to have already received their:
- T4 slips
- Registered Retirement Savings Plan (RRSP) receipts
- Tuition receipts (often available online)
- Investment statements
- Registered Education Savings Plan (RESP) receipts
Bailey is particularly proud of the quality service the team of accounting and bookkeeping experts at Canwest Accounting offer their clients. They take time to discuss revenues, tax receipts and expenses with each individual filer and business owner to ensure they are utilizing all the deductions allowable by the Canada Revenue Agency (CRA).
“We make you and your business our business,” Bailey says. “We remember clients from year to year and that consistency makes things easier for them because we have all their information in our files, including carry-overs from previous filings and ongoing records of credits, like depreciation of assets. Our experienced team can work through complicated situations with people, provide advice and help them to create a plan to minimize taxation.”
To have the exceptional team at Canwest Accounting prepare your tax return, call to make an appointment or drop in at either the Victoria or Langford location. When dropping off your tax information – preferably by April 16 – please fill out our Personal Tax Checklist.
The suggestions and advice provided by Canwest Accounting should not be relied upon in place of professional advice. You are responsible for checking the accuracy of relevant facts and opinions provided.