PERSONAL TAX
Trust XPRT Accounting’s expert personal tax accountants in Canada to help you save more on your taxes. Our personalized tax planning, preparation, and filing services are designed to maximize your returns, minimize liabilities, and ensure full compliance with all regulations. Let us take the stress out of managing your individual taxes, so you can focus on what matters most.
Personal Tax Accounting in Canada
Filing taxes on your own can be overwhelming and confusing. Many individuals struggle to navigate complex filing procedures and miss out on valuable deductions or credits they’re entitled to claim.
At XPRT Accounting, our team of expert personal tax accountants is here to ensure you get every credit and deduction you deserve. With years of experience assisting individuals across Toronto, we specialize in preparing accurate, timely, and optimized personal tax returns.
Let us simplify the process and maximize your tax savings—efficiently and stress-free.
- Submission Of Personal Tax Return
- Tax Planning
- Identifying Qualifying Deductions
- Claiming all available tax credits
Why Choose XPRT Accounting to File Your Personal Income Tax Return?
Maximize Your Refund
Avoid costly missed deductions—our expertise ensures you claim every credit and deduction you’re entitled to, often making our services pay for themselves.
Save Time and Stress
Focus on what matters, like spending time with your family, while we handle the complexities of tax regulations.
Avoid Penalties
We ensure your taxes are filed accurately and on time, helping you steer clear of fines and interest charges.
Peace of Mind
Rest easy knowing your tax return is in the hands of experienced professionals who prioritize accuracy and compliance.
What’s Included in Our Tax Return Services?
At XPRT Accounting, we go beyond just filing personal tax returns. If you have a business, we offer a comprehensive range of services, including bookkeeping, accounting, payroll, corporate tax preparation, financial statement preparation, and business advisory.
When you work with us, you’ll be assigned a dedicated, professionally qualified personal tax accountant. Your accountant will guide you through every step of tax planning and filing, ensuring accuracy, compliance, and maximized savings. With XPRT Accounting, you get personalized service tailored to your needs.
Our Service
Get in Touch
- +1-514-317-2896
- info@xprtaccounting.com
- 5653 Rue Paré, suite 203, Mont-Royal, QC H4P 1S1
Personal tax services are professional financial services provided to individuals to help them manage their income tax obligations and optimize their tax situations.
Take your time to research and choose an accountant in Canada who aligns with your needs and goals. Start by determining what specific accounting services you require, ensure that the accountant you consider is a certified professional, also ensure that you are comfortable with the pricing.
Choose XPRT Accounting as your tax service provider as we are dedicated to being your trusted partner in navigating the complex world of personal taxation.
The cost of hiring an accountant can vary widely based on several factors, including the services you require, the complexity of your financial situation, your location, and the experience and expertise of the accountant or accounting firm you choose.
Let’s discuss the pricing based on the specific accounting needs and services required.
- You can pay your income tax online through your bank’s website using the Canada Revenue Agency (CRA) as a payee.
- The CRA accepts payments through various third-party online payment service providers like Interac Online, PayPal, or a credit card.
- You can set up a pre-authorized debit agreement with the CRA, allowing them to automatically withdraw the amount you owe from your bank account on a specific date.
- You can pay your taxes in cash at Canada Post outlets that offer the Canada Post Cash and Debit service.
- You can send a cheque or money order payable to the Receiver General for Canada to the CRA.
The deadline for filing individual taxes is April 30th. Employers are required to provide employees with T4 slips by the last day of February. That then gives you March and April to get your return filed.
Whether you live in Canada or live and work in Canada, you have to file a Canadian tax return. This helps identify if you qualify to receive credits and benefit payments.
When you leave Canada temporarily or permanently:
If you are a resident of Canada and you leave temporarily for work, school, a medical procedure, or vacation, then you could be still required to file taxes in Canada depending on whether you are “deemed” a resident of Canada. This is based on how many days you spent in Canada as well as whether you maintain significant ties with Canada.
In case temporarily live in Canada:
If you live in Canada for less than 183 days in a year and do not have significant residential ties in Canada you might not need to file taxes in Canada.
Contact us to help determine your unique tax situation.
The CRA has your T1, but you can get an up-to-date version of it online. If you have a My Account with the Canadian Revenue Agency (CRA), then all versions are accessible to view by visiting the “tax returns” section on their website. This helps keep track and ensure that nothing was missed! You also have access to past years as well if necessary; simply call them at 1 800 959 8281 or send in a request via mail so they will be happy to oblige.
Yes, you can! However, it is quite possible to make errors or miss out on certain deductible expenses. You could end up paying the wrong amount of taxes (too little or too much). This opens you up to CRA penalties or fines.
The minimum income to file taxes in Canada is not a fixed amount; it depends on various factors, including your age, income sources, and specific tax credits or deductions you may be eligible for. Generally, if you are a Canadian resident, you are required to file a tax return.
You can download it from the Canada Revenue Agency (CRA) website or view and order forms at canada.ca/taxes-general-package or call the CRA at 1-855-330-3305 to order a copy.
A certified tax preparer can submit your tax return online on your behalf.
Our experts can do this by using authorized tax preparation software or by accessing the Canada Revenue Agency’s (CRA) Netfile service. We are here to help you. Book a Free Consultation with us today!
The income tax return is what you submit to the CRA to inform them of your income & taxes due. Notice of Assessment is what CRA sends you after reviewing your submitted tax return to either accept your submission as is or inform you of changes they have made to your calculation and the updated amount of taxes owed.
There are several documents that you need to keep safe during the year and provide to us at year-end for filing your taxes. We can provide you with a secure portal to save documents during the year.
Make use of our checklist to ensure you are keeping all the required document(drop us an email at info@xprtaccounting.com to get a copy of the checklist)
- – T3 Trust income and Designations
- – T4A Covid relief payments / pension / annuity
- – T4E Employment Insurance Benefits
- – T5 Investment income
- – T2202 or T2202A Tuition and Education Amounts
Yes, the T4 is just a summary of all your payslips. If you have all your payslips for the year you can add them up to get your totals. However, filing is easier with a T4.