Personal Tax Returns

Income Credit Complaints Bereavement

Let KB Accounting Services Inc. see you through income tax season—and—the whole year. We believe that healthy finances aren’t made in one meeting at year-end. KB Accounting Services Inc. communicates the whole way! We know the ins and outs of the Income Tax Act, so you don’t have to use smart tax software options to keep your information secure. We are more than the tax preparer who only fills out forms come April; we are full-service tax preparation professionals who work with you year-round to ensure the best tax return possible. We know the Canada Revenue Agency (CRA) is intimidating, and as they become more insistent on audits, nobody wants to owe more than they need to—or be caught in a mistake that causes penalties or fines. Thankfully, at KB Accounting Services Inc. we are committed to strong audit trails so there is no need to worry if the CRA wants to review your taxes, when you let us prepare them. We make tax preparation painless!

You are responsible for filing personal income tax with the CRA even if you no longer live in Canada, or if you have no income. This is because you may be entitled to benefits like the GST/HST tax credit or the Canada child benefit—or—you may still owe tax on rental property income. The CRA is particularly interested in line audits related to moving, childcare and medical expenses. We can help you determine your personal tax burden and fill out all of the confusing paperwork with our personal tax preparation services.

Income

Income tax is officially due by April 30 of each year. Don’t wait—contact us early and we can have you ready before any forms are due. Paperwork you may need to share:

• T4s, given out by your employer usually before the end of February
• Foreign income reports
• Investment portfolios
• Commissions or bonuses
• Pension income

Income that does not need to be reported could include inheritances, lottery winnings, or higher education scholarships. Thanks to advances in software, we are even able to access old T-slips if you have not filed your person tax return in years.

Credit

You’ll also need supporting paperwork related to any deductions or credits you can claim on your personal taxes. The CRA has explanations of what is and isn’t deductible on their website here. Common credits include family or child credits, education and disability. We can comb through your finances to find you these credits. If you need help figuring out what paperwork you need and what you’re eligible or responsible for, let us know.

Complaints

If you think there are any errors in your previous income tax returns, contact us. We can help determine any penalties you may owe or refunds you may be entitled to, and file complaints and revisions as needed. Stop stressing over your personal taxes and leave them to our professional accountant.

Bereavement

Sadly, in cases of a family loss, income tax for the deceased individual still need to be filed. This will depend on the person’s business dealings. Losses or carry forwards need to be dealt with at this time, as well as any mistakes or corrections that might require updating from previous years. KB Accounting Services Inc. can assist clients in getting a letter of clearance from the CRA, which means that the estate owes CRA nothing. This means that CRA can’t come back later asking for payment from the estate when the estate has already been portioned out (leaving the executor on the hook for this and adding insult to injury during an already difficult time). Please let us relieve some of the burden of this stressful time by helping you deal with any lingering tax issues.