The Right Services Set Tight With the Tax Agent Watson

Tax is a very unique form of state funding, local government, and, in part, social security funds. Since it consists of the compulsory and, on the other hand, direct exchange-free, deduction of a fraction of the resources of a person or firm, there must be sufficient reason to accept the pay.

And the strong way, which has often been used in the past, is not enough to explain that such an institution has been able to continue through the centuries and that generations of taxpayers have more or less satisfied with their tax debt. Of course, there have been many revolts against the tax authorities in history, but these were aimed at a specific levy or a collector, more rarely a political power, without calling into question the principle of taxation. This can be seen as a product of long-standing addiction to the idea that taxation is necessary and that in the end everyone makes a profit despite the inconveniences it represents. You will find the best support from the Tax agent Watson now.

In this case, the tax would benefit from implied consent. It should be noted, however, that its legitimacy would remain fragile if it were not based on explicit consent enshrined in legal formalization.

• Thus two forms of fiscal consent must be distinguished: consent to tax and consent to tax. Consent to taxation, that is, acceptance of principle, is above all sociological in nature. It originates in the oldest folds of humanity. Fruit of a long process of maturing social relations, it comes from the most distant origins of taxation born of economic, political and religious determinisms, intervening most often against a backdrop of violence, but also of exchanges. It was by occupying a structuring function of social relations that taxation, whether by force or by force, was gradually able to be admitted and give concrete form to the consent of the tax. 

The latter assumes that the lifting of the levy is explicitly accepted by those on whom the charge falls or by their representatives. It is therefore primarily political in scope. It is he who bases the modern legitimacy of the tax and which is translated on the level of the legal principles by the principle of legality tax, in other words by the fact that the creation, the deletion or modification of a tax can be decided only in the context of a law, which can be a finance or an ordinary law. The right Tax agent Watson is there now.

This principle proceeds, in the light of Enlightenment thought, of a conception which considers the citizen as a rational being, concerned for the common good and aware that, through the consent of the tax expressed by his representatives, he is his own consent that expresses himself. 

The Best that You Can Have now with the Income tax Consultant Watson

To make it simpler, it is about turning interests on non-deductible debts into deductible interest. This conversion of personal debts into business debts, whose interest is deductible in full, can generate savings that will allow you to reduce your non-deductible debts such as your residential mortgage, for example.

First, it should be noted that only owners of rental properties, self-employed persons who have not incorporated , sole proprietors and partners in a partnership may use the tax strategy of the corporation. apart from the money.

• The technique can be used by owners of rental properties. They must open two accounts, one for rental income and the other to pay for all expenses associated with the building. This account can only be linked to a personal line of credit that will be used to pay the expenses. Interest on the line of credit may be deducted on your next tax return.

• Self-employed people have every interest in planning their finances well and thinking about taxes all year long. The technique of setting aside money is one of the strategies you could put in place to reduce your taxes.

A self-employed person can not deduct from his taxes the interest of a personal debt. But, apart from putting the money aside, he could convert the interest on his residential mortgage into deductible interest, and thus reduce his total tax bill significantly. A Income tax Consultant Watson really gets the perfect option here.

What are the prerequisites?

You are a self-employed person or a building owner and you are thinking about using the MAPA technique. Here's what you need too:

• A bank account for your business income

• A bank account for your business expenses

• Debt or non-deductible personal loan

• A line of credit exclusively dedicated to operating your business 

Two accounts are better than one

If the savings made by setting aside the money are significant, they require clear and precise planning beforehand. Thus, rather than keeping everything in an account, it is preferable to open two separate ones: one for receipts and the other for expenses.

Too good to be true?

Have no fear. Putting money aside for the self-employed and the owners of rental properties is a completely legal strategy. Tax and financial authorities, including the Canada Revenue Agency (CRA), have recognized the validity of this technique since 2002.

Be vigilant anyway

Make sure, however, to understand the workings and steps to avoid any surprises.

Also pay the mortgage on your home if you separate from your spouse: costs related to the sharing of the house could be expected. If your buildings are commercial, the GST and QST payments could complicate the implementation. That's why it's best to consult a financial advisor before you activate this strategy. For the smart Income tax Consultant Watson service this is essential.

You also have to be patient because your personal net debt will not be transformed overnight. Generally, bankers recommend three- to five-year cycles. Just reorganize the way you spend and discipline yourself.

Best Tax Preperation Options for You

To help you find your way around the tax labyrinth, we have screened the books of leading accounting firms and consulting tax specialists.

Tired of being caught in traffic for two hours a day? Consider working at your home. This choice is all the more attractive as you can deduct certain expenses such as electricity, heating, maintenance, property taxes, insurance and mortgage interest. The breakdown of expenses must be based on the number of square feet used for work purposes. "If you live in a five-room house with three bedrooms and one of them serves as your office, you can deduct 20% of the eligible expenses.

Deduct your canvassing expenses

Expenses incurred to recruit or retain your clients, such as food and beverage expenses, as well as entertainment expenses such as tickets for a sporting event, may be deducted. At the federal level and, 50% of expenses can be deducted; however, Watson adds a second limit of between 1.25% and 2% of your turnover. For that you need to use the Taxation Return Preparation Watson services.

Do not report the allowance for your car

If your employer pays you an allowance for the use of your car, it is not taxable provided it is "reasonable" and calculated based only on the number of kilometers traveled for the job. By "reasonable", tax authorities generally mean an allowance not exceeding $ 0.53 per kilometer for the first 5,000 kilometers and $ 0.47 for the other kilometers. It is essential to keep a record of actual trips.

Get your GST and QST refunded

If, as an employee, you deduct expenses from your employment income, you can claim the rebate of the GST and QST you paid on these expenses. These include taxes on mandatory contributions to professional orders such as the Barreau du Québec, maintenance of the vehicle used for work, gasoline and depreciation (which represents a portion of the purchase price of the vehicle ).

Selling Your Business: Reduce Your Capital Gain

Did you realize a capital gain on the sale of shares in a small business, farm property or fishing property? Claim the deduction, which can reach $ 750,000 (lifetime limit), or $ 375,000 of taxable capital gain. In the end, it will make $ 90,000 more in your pockets. The Taxation Return Preparation Watson services are essential there.

What The Tax Agent Watson Actually Offers You

You have just received your tax notice and you notice an error or an oversight. From mid-August until the end of December, you will be able to correct your statement. If you have submitted your return of income within the legal deadlines, your income tax notice is or will be available in your private area on the impots.gouv.fr website between July 24 and August 7, 2019. From the Tax agent Watson this is important.

The Use for the Online Return

If during your online return, you chose to no longer receive a paper tax notice, you have been or will be notified by e-mail of the posting of your opinion in your particular area.

For taxpayers who have not opted for the dematerialization of the income tax notice, these notices will be delivered to the Post Office between July 23, 2019 and September 2, 2019.

What if, on reading the tax notice, you notice an error or an oversight?

From mid-August to mid-December, you can directly correct your return from your private space on impots.gouv.fr. Attention, the correction of the online tax return is only possible from a computer, it is not possible on smartphone or tablet. From the Tax agent Watson you can have the finest deals now.

You have reported your income online

• If you have declared your income online, you can proceed directly to your corrections under "Manage my withholding tax" on the website.

• You can correct errors relating to your income, your expenses, your dependents. You can even rectify your property tax mistakes if you are subject to them.

• After your corrections, you will receive a corrective tax notice by mail within a few weeks.

On the other hand, if you made a mistake in your online declaration about a change of family situation, you will not be able to take your step online. You will need to file a paper return with your public finance center.

The Essential Options for the Tax Submission

Just after the last click or when you just dropped the envelope in the mailbox, you realize you made a mistake in your tax return. Do not panic, the changes are still possible (and very easy to achieve if you have declared your tax online).

You just reported your income and you forgot to check a box or need to change a number? This is the way to go.

The right Choices for the Paper Returns

If you filed your paper return before May 16, you will need to write a letter to your tax office or file a new "rectifying" income tax return with this term in the header.

And if you declare online, you can correct your return as many times as you want until the closure of the service on July 16, provided you have respected the initial deadline for filing (May 21 for the departments of 1 at 19, 28 May from 20 to 49 and 4 June beyond 50). From the Income tax Consultant Watson this is the best that you do.

Still possible after receipt of tax notice

All you need to do is return to the Internet in your personal reporting area. As the only constraint, you will have to review all the pages and annexes of your return to make the changes in the pages concerned. For the Income tax Consultant Watson this is one essential deal now.

• You will have to perform the electronic signature again. The last signed declaration will appear in the list with the time and date of its validation.

In practice, it will still be possible to correct your return online, even after receipt of the new tax notice at the end of July.

Greater Choices for the Taxation Return Preperation

Organize to simplify the steps for preparing your tax return. You will receive a refund sooner and you will reduce the risk of frowning the tax officials.

1. MAKE THE POINT

Start by taking a look at your contribution notice last year. Think. Has there been anything new in your life (family status, name change, address, employer)? Try to see if the changes will affect the calculation of your taxes. Do you have a reporting obligation? For example, if you sold your principal residence, you must report it even if you will not have to pay any tax. For the Taxation Return Preparation Watson this is important now.

2. CHECK IF YOU LACK SOMETHING

Did you forget, last year, deductions or credits to apply in the declaration of the following year? Medical expenses, disability tax credit, caregiver credit, union dues, license to practice, tuition credit, moving expenses: all examples of deductions or credits that taxpayers sometimes omit. It is therefore important to keep (and possibly hand over to the preparer) all relevant receipts to avail yourself of them.

3. ORGANIZE YOUR PAPERASSES

There is nothing worse for a CPA than receiving a bunch of receipts and envelopes to file before starting to work, according to Swartz. If you're not sure what to give your accountant, have a brief conversation with him first, to get an idea.

4. CLASSIFY YOUR RECEIPTS

If you work as a self-employed person or run a business, sort your receipts and other papers by logical categories: expenses to be deducted, cost of sales calculations, GST / HST or QST summaries. Remember to enter these numbers in an Excel spreadsheet or, if the idea does not please you, to present them in a chart on paper, advises Mr. Swartz. You will also need to do this if you own and receive rental income, or if you deduct a fee as an employee.

5. UNDERSTANDING MECHANICS

For Stan Swartz, it is in your interest to inform yourself about the workings of the tax system, whether you are preparing your return yourself or calling in a professional. Familiarize yourself with the calculation of your income, the deductions and credits to which you are entitled, and the result of the process, which will result in a refund or a balance to be paid. If you use a professional, ask for explanations and comments to learn, once he has given you your return. With the Taxation Return Preparation Watson service this is essential now.

No Loose Ends for the Tax Submission

The advance tax is a tax levied at the source by the Confederation on various returns of capital movable as well as certain insurance benefits. It is above all a means of tax technique to fight against tax evasion, by encouraging the taxpayer to report to direct taxes his income taxed in advance tax and the wealth from which these revenues come.

Refundable under certain conditions (by deduction from cantonal and communal taxes, or in cash), the advance tax does not therefore constitute a definitive burden for taxpayers domiciled in Switzerland who meet their tax obligations. With the Tax agent Watson the options come perfectly now.

The advance tax mechanism can be represented graphically as follows:
The advance tax mechanism

Real tax, the withholding tax is levied without taking into account the financial capacity of the beneficiary of the taxable benefit.

The tax rate is

• 35% for investment returns and gains in lotteries.

• 15% on life annuities and pensions; and

• 8% for other insurance benefits.

The Watson debtors of the taxable benefits are liable to tax (= taxpayers). They must pay the tax on the taxable benefit and transfer it to the recipient of the taxable benefit by deducting it from the amount they must pay.

A moratory interest is due, without summation, on the amounts of taxes still unpaid at maturity.

As a result of this, the advance tax will be refunded , under certain conditions, to taxpayers domiciled in Switzerland who receive the benefits imposed, who correctly fulfill their tax obligations. This is where it comes with the Tax agent Watson.

The reimbursement is in particular granted:

Natural persons domiciled in Switzerland , provided, however, that they regularly declare, for cantonal and communal taxes, the revenues and yields subject to the withholding tax and the capital that produced them (reimbursement made by the cantons in principle by imputation on cantonal taxes);

Smart Solutions for the Tax Submissions

Being self-employed comes with a lot of learning, taxes being one of many. Join our webinar to learn how to properly report your income, and claim the business deductions you qualify for.

Be organized

In addition to the usual documents, such as child care receipts, tuition and other statements, self-employed individuals also need information about their business. To make tax preparation easier, start by putting together everything you need before you start. With the Income tax Consultant Watson this is essential

Your personal information, that of your spouse and dependents

You will need the Social Insurance Number, date of birth, and other information, such as net income, to claim certain credits for your family.

Leaflets and receipts that are not related to the business. If you have a regular job, find your T4 slip. If you pay childcare fees to work outside or to work for your business, add up your total receipts for the year. Medical expenses and other expenses that we tend to forget. Contact your dentist, pharmacist or other health professional and ask them for an annual statement of last year's fees for all members of your family. For the Income tax Consultant Watson now it perfectly comes up.

Last year's statement

• There is nothing better than basing ourselves on last year's statement to prepare this year's statement.

• Company related information. Calculate all your income. Count your expenses by categories.

• If you paid installments, consider these amounts as well.

• If you are registered for the GST and HST, you will need your Business Number and a copy of your GST / HST return.

Tip: Prepare your GST / HST return before your tax return. You will need the amounts from the GST / HST return to prepare your tax return.

Find out what you can deduce

This advice is particularly important for new registrants. Essentially, any reasonable expenses incurred for business purposes can be deducted when you file your taxes.

And do not forget about out-of-pocket expenses like office supplies and bank charges. These costs add up! It is important to add these amounts for two reasons. Accounting for any expense gives you a better picture of your company's financial health. . After adding all your operating costs and revenues, you'll know how profitable your business was last year.

Great Choices with the Taxation Return Preperation

If you have forgotten to include a refund or tax credit in a tax return in later years, a professional tax accountant will explain that you have 10 years to claim an adjustment.

 
Documents and receipts: prescription period

You must keep all your documents and receipts for at least six (6) years after the filing year of a tax return, even if your tax accountant has transmitted your information electronically. With the Taxation Return Preparation Watson you can have the smartest options.

Lost bills = money lost

We can not remember everything! Taking the means to avoid misplacing your bills will avoid forgetting on your tax return deductions to which you would be entitled.

Your tax accounting professional will have the expertise to tell you what bills to keep and suggest methods of filing.

Move to work (not the other way around)

your new work location is 40 km or more from your place of residence ? You have to move to get closer? Your tax accountant will claim for you the deductions to which you are entitled such as real estate commissions.

Do not forget that you have moved!

Your tax accounting expert will ask you first of all if you have moved during the year. If so, he can make the address changes for you.

The brother-in-law or an expert?

Remember that you will disclose your social insurance number and other sensitive personal information to the person who will complete your tax return.

It is also not recommended to trust blindly to a person who does not have professional liability insurance in case of error and omission, or an official company located on the street, which is not supervised. by a professional order. The perfect choices now come with the Taxation Return Preparation Watson.

They have a great experience in tax returns. Regardless of where you work, they will know the specific expenses that will entitle you to a deduction. Having them file your personal or business tax return is the best way to reduce your taxes by following the rules.

Perfection from the Best Tax Agent Right Here

If you have forgotten to include a refund or tax credit in a tax return in later years, a professional tax accountant will explain that you have 10 years to claim an adjustment.

Documents and receipts: 

prescription period

You must keep all your documents and receipts for at least six (6) years after the filing year of a tax return, even if your tax accountant has transmitted your information electronically. From the Tax agent Watson you can have the smartest deals now.

Lost bills = money lost

We can not remember everything! Taking the means to avoid misplacing your bills will avoid forgetting on your tax return deductions to which you would be entitled.

Your tax accounting professional will have the expertise to tell you what bills to keep and suggest methods of filing.

Move to work

your new work location is 40 km or more from your place of residence ? You have to move to get closer? Your tax accountant will claim for you the deductions to which you are entitled such as real estate commissions.

Do not forget that you have moved!

According to the Revenue Agency (RA), reporting the wrong address is the most common mistake made when filing a tax return. Remember to notify the Canada Revenue Agency and Revenu Québec if you have moved during the year.

Your tax accounting expert will ask you first of all if you have moved during the year. If so, he can make the address changes for you. Great relief you will have now with the Tax agent Watson.

The brother-in-law or an expert?

Remember that you will disclose your social insurance number and other sensitive personal information to the person who will complete your tax return.

It is also not recommended to trust blindly to a person who does not have professional liability insurance in case of error and omission, or an official company located on the street, which is not supervised. by a professional order.

Tax Options You Really Need to Consult

Tired of being caught in traffic for two hours a day? Consider working at your home. This choice is all the more attractive as you can deduct certain expenses such as electricity, heating, maintenance, property taxes, insurance and mortgage interest. The breakdown of expenses must be based on the number of square feet used for work purposes.

Deduct your canvassing expenses

Expenses incurred to recruit or retain your clients, such as food and beverage expenses, as well as entertainment expenses such as tickets for a sporting event, may be deducted. At the federal level and, 50% of expenses can be deducted; however, the city adds a second limit of between 1.25% and 2% of your turnover. From the Income tax Consultant Watson you will have the smartest deal.

Do not report the allowance for your car

If your employer pays you an allowance for the use of your car, it is not taxable provided it is "reasonable" and calculated based only on the number of kilometers traveled for the job. By "reasonable", tax authorities generally mean an allowance not exceeding $ 0.53 per kilometer for the first 5,000 kilometers and $ 0.47 for the other kilometers. It is essential to keep a record of actual trips.

Get your GST and QST refunded

If, as an employee, you deduct expenses from your employment income, you can claim the rebate of the GST and QST you paid on these expenses. These include taxes on mandatory contributions to professional orders, maintenance of the vehicle used for work, gasoline and depreciation (which represents a portion of the purchase price of the vehicle). Regarding the tax options you can have the use of Income tax Consultant Watson now.

Selling Your Business: Reduce Your Capital Gain

Did you realize a capital gain on the sale of shares in a small business, farm property or fishing property? Claim the deduction, which can reach $ 750,000 (lifetime limit), or $ 375,000 of taxable capital gain. In the end, it will make $ 90,000 more in your pockets.

What The Options are for the Perfect Taxation Returns

Do you work on your own account or do you own a rental property? The technique of setting aside money could allow you to deduct from your income the interest on your personal loans. Discover how.

To make it simpler, it is about turning interests on non-deductible debts into deductible interest. This conversion of personal debts into business debts, whose interest is deductible in full, can generate savings that will allow you to reduce your non-deductible debts such as your residential mortgage, for example. From the Taxation Return Preparation Watson this is the best deal.

Who can use this strategy?

First, it should be noted that only owners of rental properties, self-employed persons who have not incorporated , sole proprietors and partners in a partnership may use the tax strategy of the corporation. apart from the money.

They must open two accounts, one for rental income and the other to pay for all expenses associated with the building. This account can only be linked to a personal line of credit that will be used to pay the expenses. Interest on the line of credit may be deducted on your next tax return.

Self-employed people have every interest in planning their finances well and thinking about taxes all year long. The technique of setting aside money is one of the strategies you could put in place to reduce your taxes. You can use the Taxation Return Preparation Watson here.

A self-employed person can not deduct from his taxes the interest of a personal debt. But, apart from putting the money aside, he could convert the interest on his residential mortgage into deductible interest, and thus reduce his total tax bill significantly.

What are the prerequisites?

You are a self-employed person or a building owner and you are thinking about using the MAPA technique. Here's what you need too:

•     A bank account for your business income

•     A bank account for your business expenses

•     Debt or non-deductible personal loan

•     A line of credit exclusively dedicated to operating your business.

Best Tax Submission Options You Need to Have Now

When it comes to taxation, most people need to stay tuned. Taxes are embedded in everything, even in food! Therefore, one of the concerns of those who live abroad or of those who need to send money into their account abroad is the taxation on the revenues received from abroad. And in this text we will clarify some doubts, as for example, if you receive money from foreign paid tax .
Receiving money from overseas paid tax?

No. If you pay taxes in the country of origin of your money, you will not have to pay again in the country where you are residing. If you receive cash from abroad and the amounts have not yet been taxed in the country of origin, you must pay taxes in the country where you reside. Double taxation is not a legal practice. The Tax agent Watson happens to be the best person for these sorts of works.

Do you need to open a bank account in Europe?

You can open your free bank account in 5 minutes and safely in the N26, a digital bank that works across Europe.

In case you live abroad, it is important that you declare the decision to the IRS and the responsible body where you live so that you do not pay new taxes in the country.

Here are some questions you might have if you need to know if you are paying foreign money.

Money laundry

All the money you receive needs to be declared to governments. According to the law, the values ​​can not be derived from dubious, illicit origin or are the result of illegal activities, such as drug and arms trafficking, for example.

It is worth noting that money laundering (or money laundering) is a crime and is legally combated.
Tax Attraction

Some countries, such as Portugal, offer incentives such as obtaining visas , for example, for retirees , for those who have the money to invest in the country, for those who are entrepreneurs , for those who own a property of a high value, and so on.

The Perfect Tax Option You Always Look For

Good organization of accounting routines is essential to accelerate internal processes and increase office productivity. With proper planning, it is possible to save a lot of time and use it for strategic areas such as customer service and advice and development of specific projects, such as prospecting for new companies.

As you know, accounting offices often have a hectic routine . There are many different clients, processes and tasks performed in a single day. So the tables are full of reminders, sketches with notes and checklists. A tremendous effort not to forget anything and end up getting lost in so much work. The Income tax Consultant Watson is the best person for this task.

Despite the immense amount of information, data and documents, some accounting firms are still hostage to paper. And so they waste a lot of time.

Where is a given document, was that email answered, what time was that meeting, when that client is going to send the requested information, how long does it take to close the month?

This attachment to paper and the lack of clear definition of accounting routines can hurt your business not only because of the time wasted, but also because of compromising errors that can result in the loss of a customer .

• So here are a few tips to help you better organize your accounting routine so you can save time to focus on what matters: health and growth of your business.

How to organize accounting routines

• Here's the step-by-step guide to organizing your office routines.

Make a departmentalization

Is your staff accustomed to an intense pace, which you consider natural for accounting offices, and is there not a clear division as to the activity of each employee? This is a very important clue that your office needs to organize the accounting routines.

In a medium-sized accounting firm, this process is natural, however for small offices, this departmentalization will make each employee responsible for one area, and the chances of confusion regarding the tasks will be less.

Best Tax Preperation Options for You

Errors in filing the Income Tax return may lead the taxpayer to fall into the fine mesh. Those who remain in this situation will have their tax refund retained until the situation is regularized.

Generally, the Internal Revenue Service retains the declaration because of divergences of information, errors in the filling or inconsistencies in the declared values.

Taxpayers who have already submitted the statement and have noticed that they have omitted any data or have posted incorrect information can do the rectification at any time, up to 5 years after the submission. For the best Taxation Return Preparation Watson you can have the best details available now.

Main care to avoid fine mesh

Include all taxable income received from all sources of pay, even if such income has not been taxed at source (wages, pensions, amounts received from private pension plans and rents), as well as income received by dependents of age) and that are within the annual exemption limit of R $ 28,559.70;

• Report only deductions from expenses supported by appropriate documents that prove the expense;

• Inform bank account balances correctly (balances above R $ 140) and do not allow third-party transactions in your account;

• State the true value of acquisitions and disposals (sales) of assets, mainly real estate;

• Always check that the change in equity for the year is compatible with the income received in the statement.

Common Errors and What Should Be Checked

See if the CPF and CNPJ number in the Annual Income Report is correct. If there is an error, notify the paying source to arrange for correction of DIRF's report and rectification;
Check that there are no differences between the amounts reported in the declaration and the values ​​of the Annual Income Report provided by the paying source. If there is a difference, please correct the declaration;
If the declared value is correct, contact the paying source to verify if there is a new Rectifier Annual Income Receipt, otherwise, wait for the Receita Federal subpoena;

See if your income statement tells you all the income received by you and all dependents listed in the statement, in both the full and simplified form.

Perfect Options for the Perfect Tax Submission

Do not hesitate for a moment! We must act without delay. To correct an error in your tax return, turn to knowledgeable and experienced professional chartered accountants. In addition, these tax accountants will provide you with sound advice and the best tax strategies for your tax accounting.

Get advice or services from our chartered accountants

Hire accountants for your tax return Ah! These mistakes of the past!

If you have forgotten to include a refund or tax credit in a tax return in later years, a professional tax accountant will explain that you have 10 years to claim an adjustment. Trust a Tax agent Watson for the job.

Documents and receipts: prescription period

You must keep all your documents and receipts for at least six (6) years after the filing year of a tax return, even if your tax accountant has transmitted your information electronically.

Lost bills = money lost

We can not remember everything! Taking the means to avoid misplacing your bills will avoid forgetting on your tax return deductions to which you would be entitled.

Your tax accounting professional will have the expertise to tell you what bills to keep and suggest methods of filing.

Move to work (not the other way around)

your new work location is 40 km or more from your place of residence ? You have to move to get closer? Your tax accountant will claim for you the deductions to which you are entitled such as real estate commissions ...

Do not forget that you have moved!

According to the Canada Revenue Agency (CRA), reporting the wrong address is the most common mistake made when filing a tax return. Remember to notify the Canada Revenue Agency and Revenu Québec if you have moved during the year.

Your tax accounting expert will ask you first of all if you have moved during the year. If so, he can make the address changes for you.

The brother-in-law or an expert?

Remember that you will disclose your social insurance number and other sensitive personal information to the person who will complete your tax return.

It is also not recommended to trust blindly to a person who does not have professional liability insurance in case of error and omission, or an official company located on the street, which is not supervised. by a professional order ...

The tax accountants of the GGLB chartered professional accounting firm meet the criteria established by the Quebec Order of Chartered Professional Accountants and the Canadian Institute of Chartered Professional Accountants.

The Tax Options You Need to Follow Perfectly

After registering the PI in the tax office, you get not only the right to conduct business, i.e. do business, but also duties, the first of which is to submit reports and pay insurance premiums for themselves. In addition to these key responsibilities of each IPeshnik, there are a number of nuances that you should be aware of so as not to run into fines in the very first month of your official activities. Especially for this article, we selected seven important issues that need to be resolved by the IT freelancer immediately after the state registration.

1. Choose the right taxation system

If, during your registration as an IP, you did not submit notifications about the transition to the simplified taxation system, then you need to determine the taxation system during the ICS period after the registration date. With the Income tax Consultant Watson now you will be having the perfect options now.

The taxation system is the procedure for calculating and paying tax. Each system has its own rate and tax base, but the main thing is that the amounts of tax payable differ significantly.

Why this is important: special (they are also preferential) tax regimes allow you to reduce payments to the budget to a minimum. By default, you will have to work on a shared system (OS). It is undesirable to forget about the timing of the reporting of your system; for an undelivered declaration, the tax authorities very quickly block the PI account.

2. Take advantage of tax holidays

If you register as an individual entrepreneur for the first time after the adoption of a regional law on tax holidays, you can claim a zero tax rate on the simplified taxation system and the special tax regime. Do not pay tax can be a maximum of two years. The specific activities for which tax holidays are established determines the regional law.

3. Know and pay for insurance premiums

Insurance premiums are the payments that every entrepreneur is required to contribute to the pension fund (PFR) and the compulsory health insurance fund (MHIF). From the new year, the Federal Tax Service will be responsible for collecting fees, because in the opinion of the authorities, the funds themselves with the collection of payments in their favor cope poorly.

Tax Preperation Comes With the Perfect Options

When you get married, you not only combine houses, but also tax returns. Will marriage save you money on your taxes, or will you be penalized with a wedding tax bill? Follow the steps below to get the lowest possible tax as a married couple.

Can you file as a married couple?

If you have not been married on the last day of the tax year for which you are applying, you cannot declare yourself to be either a joint joint registration statement or a single subscription . You are most likely to declare yourself as single people. With the Taxation Return Preparation Watson services surely you will have all supports now.

Restrictions on viewing women's complaints separately

There are two restrictions on registration separately, which may automatically terminate the discussion of these parameters or you are thinking about which tax option to choose.

Prohibited Deductions and Credits

If you have applied for participation in quality , filed separately separately , you cannot claim the deduction of interest on the loan, tuition fees and fees, education loans and income loans. If you are eligible for more than one of these loans and deductions, you may be able to lose more than a thousand dollars in your refund by submitting an application separately.

In addition, if you register as a separate application for marriage , you need to choose either a standard deduction or a detailed deduction. This means that one of you has sufficient deductions for making a huge amount of deductions, such as business or medical expenses, and the other spouse has to do the same.

Discuss all possible tax benefits

One of the reasons why many couples submit separate information is that they are owed to the debt and can be deducted from their taxes. This includes overdue child support, overdue student loans, or the tax liability of a spouse before marriage.

However, sending for this reason may not be needed separately. This can help a spouse who does not have debt is not punished for half the profit. In addition, deductions and loans that are not available for these applications separately may still be declared.

When You Need the Right Tax Agent

A tax return is an income form that must be filed with the tax office. The document reflects information about the profit received by an individual or for a calendar year, namely: income and expenses, tax benefits, as well as information about the taxpayer.

What are the deadlines for filing a tax return?

• Where to get forms for filing a tax return?

• How to fill out a tax return online?

• Who and in what cases need to fill out a tax return?

• What threatens the one who did not file a tax return?

You can pay or pay personal income tax until July 15 of the same year.

For citizens who provide a tax return solely for the purpose of obtaining tax deductions for personal income tax, restrictions on the timing of the declaration are not applicable. This means that such declarations can be submitted at any time during the year. A Tax agent Watson is the best person here.

It should be remembered: if you include the income to be declared in the declaration and rely on a tax deduction, then the deadline for submitting the declaration is no later than April 30th.

Violation of the deadline for filing a declaration threatens with the imposition of a fine in the amount of 5% of the unpaid tax amount for each month of delay, but not more than 30% of the specified amount and not less than 1000 rubles.

If the tax is not paid to the budget, the tax authorities will be entitled to recover from you not only the tax amount itself, but also a fine of 20% of the unpaid amount, and if it is proved that the tax was not paid intentionally, the penalty may increase to 40 % of the unpaid tax amount.
What should I do to file a tax return?

You can file a tax return in several ways:

    submit to the tax office personally (or through a representative)
    send by mail
    send over the Internet using special software

To do this, you will need information about all the income you received during the year. The exception is income received by you through tax agents (employers with whom you have a labor contract or organizations for which you performed civil-law work, for example, under a contract agreement).

All Solutions for the Income Tax Submissions

In 2014, the tax authority imposed a penalty for late filing a tax return for 2012. the fine was not paid. Three and a half years later, the tax authorities applied to the court for a court order to recover this fine from me. Is it legal? how long the tax may apply to the court for the collection of a fine previously imposed?

• Hello, Penalty collection occurs within 2 years. However, you are not charged a fine, but already a penalty for late payment of a tax debt.

• Good morning, what documents do I need when filing a declaration to receive a tax deduction when buying a home?

• Hello. You must hire a certificate of 2 PIT for the year when you bought a house, a contract of sale, a receipt for payment for an apartment, fill out a certificate of 3 PIT

• Good afternoon, dear visitor! Sale agreement, certificate form 2-NDFL, payment document All the best, I wish you good luck.

To confirm the right to property tax deduction, the taxpayer submits to the tax authority: an agreement on the purchase of a dwelling house or a share  in it, documents confirming the taxpayer's ownership of a dwelling house or a share  in it - when building or purchasing a residential house or shares (s) in it. From the Income tax Consultant Watson this is the best deal that you will be having now.

an agreement on the purchase of an apartment, room or share  in them and documents confirming the taxpayer's ownership of an apartment, room or share  in them when purchasing an apartment, room or share  in them into ownership; an agreement on participation in shared construction and a deed of transfer or another document on the transfer of an object of shared construction to the developer and its acceptance by the participant of shared construction, signed by the parties, when acquiring rights to an object of shared construction (an apartment or room in a house under construction).

Documents confirming the taxpayer's ownership of a land plot or a share  in it, and documents confirming ownership of a residential house or a share  in it when acquiring land plots or a share  in them provided for an individual housing construction and land plots on which residential houses or shares  in them are located.

When You Face No Issues in Tax Preperation

How much and who is entitled to a refund after filing a tax return depends on many circumstances. You can find information on important changes in the tax system that entered into force this year.

Perfection for Taxation Submission

People often address issues arising from the declaration of taxes to the bank, but the bank does not make recommendations in the field of taxes and is not responsible for when they transfer the overpaid income tax. This year, the Tax and Customs Board plans to start a refund from February 27. If the declaration passes an additional check, then the deadline is July 1. Sometimes it follows from the declaration that income tax must be paid extra. This must be done depending on the type of income no later than July 1.

• Tax returns are filed via the e-maksuamet / e-toll electronic environment. You can log in to the e-maksuamet / e-toll system and confirm your tax return there with an ID card, mobile ID or an internet bank that has valid certificates. You can transfer some data required for the declaration of income to the Tax and Customs Board via the Internet Bank. The Taxation Return Preparation Watson service is the best one in this.

Housing Loan Interest

• For example, from taxable income, you can deduct interest on a loan or lease paid to a bank last year, which was issued for the purchase of a dwelling or a land plot purchased for housing construction. More information about declaring interest on housing loans can be found on the NTD home page .

The certificate of interest on housing loans or leasing is available in the Internet Bank from February 6. To add interest data directly to a pre-filled tax return form, click on the button “Data to the Tax and Customs Board” in the Internet Bank (Credit / Insurance -> Data to the Tax and Customs Board).

Taxation of the third pension pillar
In addition, contributions to pension funds of the third pillar and pension insurance in the amount of up to 15 percent of the annual gross income, but not more than 6,000 euros, can be deducted from the non-taxable income.