Personal Services
Personal Tax Filing
Even if you’ve completed your taxes without assistance in the past, there are situations in life that can make filing more complex. Did you sell a property or take on contract work? Honest Accounting ensures you are properly reimbursed for your expenses. Knowing what can be claimed can be confusing. We’ll make sure you apply for all the tax credits and deductions applicable to you.
Overdue Tax Filing
Each day you’re overdue on filing your taxes increases the severity of the financial penalty. Honest Accounting can negotiate manageable payment options and provide advice to get you back on track. Let Honest Accounting be your advocate! We can request that your interest penalties be waived. If you don’t owe money, we can help you claim any old refunds owing from years past.
Benefits Filing
Canada’s tax system offers all kinds of non-refundable tax credits and deductions for people in lower tax brackets. But that doesn’t mean you have to wait until tax season to take advantage of the government’s various financial assistance programs. Honest Accounting can help you and your family apply for different benefits, including GST/HST Credits, Climate Action Incentives, the Canada Child Benefit, and more.
Tax Planning
Saving money and making the most of your earnings can be a challenge. Honest Accounting offers tax-optimized solutions if you require strategies for income splitting, RRSP contributions, or your pension plan. Understanding your options and the most advisable planning techniques is the first step toward securing a more stable financial future.
FAQ's
Who needs to file personal taxes?
You need to file an income tax return if:
- You owe tax to the CRA
- You would like to claim a tax refund
- You are self-employed
- You are a student with eligible tuition fees
- CRA has requested you file an income tax return
- You may still be required to file if these don’t apply to you
What is the “Welcome Canada” benefit?
The “Welcome Canada” term is used to describe benefits and credit payments to Canadian residents; this term is common with new Canadian immigrants.
I owe the CRA money; how do I pay?
You can pay the CRA online, in person, or by mail. Additional details can be found at:
https://www.canada.ca/en/revenue-agency/services/payments-cra.html
Will I be fined for not paying my taxes?
Yes, the CRA will charge interest immediately after the tax-filing deadline has passed.
The interest charges can be significant.
I have unfiled taxes from previous years. Is it too late to file?
It is never too late to file your previous tax returns! If you are owed tax refunds, you can still receive them!
What is the deadline to file taxes?
The deadline to file your Personal Taxes is April 30th.
Are you taking on new clients?
Honest Accounting is always taking on new clients! Get in touch today!