Although most students do not pay any taxes (due to deductions and tax credits), this should not be a reason not to file an Income Tax Return. It’s in the student’s best interest to file a return, as there may be credits available for when he or she finishes studying.
Looking to start your own business? I’ve been there, and did my homework! Let me help. I can assist you with registering your business name, opening up GST/HST and payroll deductions accounts with CRA, setting up an accounting system and much more!
Before approving a new corporate name, most provincial and territorial governments require a Nuans report. The Nuans report is a list of existing corporate and business names, as well as trademarks, that are similar to the one being proposed. A Nuans report helps avoid choosing a name that is already in use.
I need to have a document witnessed by a Commissionner of Oaths? We are empowered under provincial law to administer and witness the swearing of oaths or solemn affirmations or declarations in the taking of an affidavit or solemn affirmation or declaration for any potential legal matter. Our fee is $20 per document.
Prices are subject to change without notice and includes GST/HST ** Some limitations apply: Assistance is for reviews performed by the Canada Revenue Agency only; assistance requiring more than the time included in your package will be charged at our hourly rates. Terms are subject to change without notice. ⁺ Per return. Price is subject to change without notice and does not include GST/HST.
We have prepared this list to help executor in dealing with the tax affairs of the deceased individual and make sure nothing gets missed. Note: This is not an extensive list and Outside the Box Accounting Inc. cannot be held liable for any missing or outdated information. In addition, we are not lawyers, and the […]
Common types of income for families Employment income (T4) RRSP withdrawals (T4RSP) Self-employed commissions (T4A) Fees for services (T4A) Investment income (T5, T3) Securities transactions (T5008) Self-employment income / business income Common deductions and credits for families RRSP Contributions (slip issued by financial institution) Child care expenses (receipt issued by provider) Moving expenses (keep all […]
As mentioned, self-employed individuals are required to file an Income Statement with their Income Tax Return. Form T2125 is the most common one used, although agriculture and fishing ventures have their own version of this form. Keeping Track of Income and Expenses Throughout the tax year (January 1st to December 31st), you need to maintain […]
Advantages in filing a return As mentioned, it’s in the student’s best interest to file an Income Tax Return every year – even if there is no tax payable or any income to be taxed. The reason is pretty simple. Well, actually, there are two reasons! GST/HST credit In order to receive the GST/HST credit […]
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“We were very impressed by the quick, straight forward and professional service. Fair pricing for our personal income taxes to be filed will keep us working with Outside the Box Accounting in the future. Thank you, Philippe!”