At Everest Accounting, we provide tax planning and preparation services for personal taxes to help you optimize your tax situation, minimize your tax liability, and ensure compliance with all relevant tax laws and regulations. Our comprehensive tax planning service is tailored to meet your specific tax objectives, and we offer expert advice on available tax credits and deductions to maximize your tax savings. Our tax preparation service covers all areas of personal income tax including employment income, self-employment income, investment income, rental income, capital gains, and other income sources. We also provide representation before tax authorities in case of an audit, dispute or other tax-related matter.
Our technology solutions allow us to generate financial reports in real-time, giving you immediate access to the data you need to make informed decisions. This can help you identify areas for improvement and make data-driven decisions that positively impact your bottom line.
We don't believe in a one-size-fits-all approach. Instead, we work closely with each client to understand their specific needs and develop a customized solution that meets those needs. We leverage the latest technologies, including cloud-based solutions and AI, to help you streamline your accounting and bookkeeping processes and increase efficiencies.
We pride ourselves on providing exceptional service to our clients. We are always available to answer your questions and provide support. Our team has extensive experience working in a wide range of industries, giving us the knowledge and insights needed to provide tailored solutions that address the specific needs of your industry.
To file your personal taxes, you will need to provide several tax documents, including your T4 slip from your employer, any T4A slips for pension or retirement income, receipts for medical expenses, charitable donations, and tuition fees, as well as any investment income statements, such as T5 or T3 slips. Additionally, if you are self-employed, you will need to provide your business income and expense statements. It’s important to keep track of all your tax documents throughout the year to ensure accurate filing and to maximize your eligible tax deductions and credits.
If you did not file your taxes last year, it is important to do so as soon as possible. Late filing may result in penalties and interest charges from the Canada Revenue Agency (CRA). Even if you did not owe any taxes, you could be missing out on tax credits and benefits that you may be eligible for. The best course of action is to file your previous year’s tax return as soon as possible to avoid any further penalties or missed opportunities for benefits.
The tax deadline for personal income tax in Canada is April 30th of each year. This means that you must file your tax return and pay any taxes owed by this date to avoid penalties or interest charges. If you are self-employed or have a spouse or common-law partner who is self-employed, the deadline is June 15th. However, any taxes owed are still due by April 30th. It is important to file your taxes on time to avoid penalties and to ensure that you receive any eligible tax credits and benefits.
Any individual who has earned income in Canada during the tax year is required to file a personal tax return
Please refer to the Corporate Tax Services. If you are self-employed, you will need to file a personal income tax return (T1) in addition to a business income tax return (T2125). You will need to report all your business income and expenses on your T2125 form. You may also be required to make quarterly instalment payments to the Canada Revenue Agency (CRA) throughout the year to avoid penalties and interest charges. It is important to keep accurate and up-to-date records of all your business income and expenses, as well as any receipts or supporting documentation
At Everest Accounting, we bring expertise in accounting, tax services, and consulting to provide comprehensive financial solutions to our clients. We leverage advanced technology and analyze financial data to provide tailored solutions that help our clients achieve their goals. Our personalized service ensures each client receives high-quality solutions specific to their needs. We are passionate about unlocking the potential for businesses to reach the next level of success and strive to build lasting relationships by providing trusted, efficient services
Everest Accounting Inc. | © 2023 All rights reserved
Site designed by:
Everest Graphic Design