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.