Personal income tax

Each year, filing income tax raises as many questions as concerns for employees, the self-employed and Inc companies and people with low incomes. If you are an individual and want to learn more about your tax return, this article is for you!

Thanks to Calcul Concept, a company offering an accounting service in Mirabel, Saint-Jérôme and Montreal, find out everything you need to know about personal income tax.

Many documents required

Since tax filing is a complex tax task, it requires multiple documents from both the federal and provincial governments. The two most well-known slips are the T4 and RL-1 provided by the employer. However, depending on your situation, other documents may be requested such as T4A, T4AOS, T5007 etc.. 

If you are a tenant of a house, condo or apartment, you must also obtain the RL-31 slip from your landlord (NB. The RL-31 must be registered with the Quebec government and be returned to the tenant no later than February 28 of the current year. Solidarity).

In addition, any document showing deductions such as the RRSP, applicable capital losses from previous years, childcare expenses, the $ 500 raise for the children’s sports activity.

Special features for each case

Everyone being unique, some declarations are more complicated to manage than others. Depending on the specifics of each situation, it may be necessary to make specific complaints.

There are differences according to family situations and individual activities. At Calcul Concept, we are used to dealing with single people, married couples without children, households with children, single-parent families, retirees, employees, people with disabilities, de facto immigrants or even building owners. income and self-employed workers, commission etc. We also know perfectly well the particularities of long-haul truck drivers, who must deduct from their income tax return their meal expenses without invoices and sometimes accommodation.

The advantages of hiring an accountant

As you’ve probably understood by this point in the article, filing personal income taxes is a complex task. This requires a real knowledge of federal and provincial tax laws, but also a solid organization not to forget important documents. Hiring an accountant to file your income tax return is above all a guarantee of entrusting this task to an expert in the field, who works with high-performance software.

Hiring an accounting and tax specialist is also a great way to save time. This saves you spending hours researching online and in your documents. The accountant takes care of everything from A to Z, with the calculations required to send the tax return to Revenu Québec and to the Government of Canada.

Finally, only an accountant has the essential know-how to optimize tax returns. Thanks to his knowledge, he can make sure that each of his clients receives all the necessary tax credits, as well as the refunds to which he is entitled. Asking the services of an accountant for your tax return is therefore a real investment.

Are you looking for a reliable and knowledgeable accountant for your tax return? If you are in the Laval, Saint-Jérôme or Mirabel area, choose Calcul Concept to take advantage of excellent accounting and tax services at an unbeatable price!

To learn more, call us today at (450) 712-2300 or send us an email, by filling out the form on our contact page.