Monday 30 October 2023

A Guide to Filing Your Tax Returns

As the time nears to start tax filing, businessowners often think — is it profitable to hire a tax consultant in Montreal? Or should I get it done by my internal team? Should I submit the return online or through writing an email? What kind of information should I have in hand before I start the procedure of return filing? And the list is long.

The answers to these trails of questions is different for each business and individual. However, some basic knowledge about tax returns can prepare you to make the right decision, get your taxes done, and make your business more profitable.

Today, we will tell you what should you include in your tax filing in Montreal. Whether you are filing taxes by yourself or you want to hire a tax consultant in Montreal, the knowledge of what to include in a tax return filing will help you check if everything is included or not.

1. Include all the slips such as T4 slips, employment insurance benefits, tuition and education receipts, interest, dividends, and mutual funds, other pensions and annuities, all other information slips.

2. Include all the receipts, such as RRSP contribution receipts, support for a child, spouse, or law partner, other employment expenses, medical expenses, charitable donations, and so on.

3. Other documentations include rental income and expense receipts, disability tax credit certificate, sale of principle residence, notice of assessment and so on.

Hire a tax consultant in Montreal and ensure that everything is sorted for your tax return filing.

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A Guide to Filing Your Tax Returns

As the time nears to start tax filing, businessowners often think — is it profitable to hire a tax consultant in Montreal ? Or should I get ...