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.