TAX SEASON 2013 - Due Date is Wednesday April 30, 2014

TAX SEASON has arrived!

'People fear death and taxes'. With my assistance, you don't have to fear taxes.

I have created a check list of things you need to gather before you present the information to me for processing.

First of all - have you changed residences in 2013 or has your marital status changed or additions to your family? A list of all your dependents with full names and birth dates are required along with any income they may have made and their SIN.

Now we are ready to gather the forms and information required.


INCOME
q Employment – T4
q Old Age Security – T4A(OAS)
q Canada Pension Plan benefits – T4A(P)
q Retirement Income – T4A for pensions, T4RSP, T4RIF
(attach details of spouse’s income to determine if pension splitting is beneficial)
q Employment Insurance – T4E
q Universal Child Care Benefits – RC62
q Interest, Dividends and other Investment Income – T5/T600
q Mutual Funds and other Trust Income – T3
q Limited Partnership – T5013
q Business or Professional – Financial Statements or T5013
q Rental Property (attach details of income, expenses, purchases and sales)
____________________________________________________________________
q If assets have been purchased for use in the business, or loans incurred for business purposes, provide appropriate documents
____________________________________________________________________
q Capital Gains/Losses
____________________________________________________________________
q Did you dispose of any capital properties this year? (attach copies of sales detail and original purchase documentation.)
____________________________________________________________________
q Alimony (provide copy of post-April 30, 1997, agreement or election, if changed or not previously provided)
____________________________________________________________________
q Other Income (e.g., stock options, annuities, scholarships, bursaries, research grants, RRSPs – attach T4RSP, Workers’ Compensation benefits).
____________________________________________________________________
DEDUCTIONS
q Registered Retirement Savings Plan contributions (attach receipts)
(attach T10 – Personal Adjustment Reversal, if you received one.)
____________________________________________________________________
q Annual union, professional dues (attach receipts)
____________________________________________________________________
q Child care expense (attach receipts):
q for individual providers, include S.I.N. and address 
__________________________________________________________________________________________________________________________________
q for summer camps, indicate number of weeks in-residence
_________________________________________________________________
q Attendant care expenses (attach receipts)
____________________________________________________________________
q Allowable business investment losses (refer to Capital Gains/Losses above)
q Moving expenses (attach receipts). Indicate distance moved to new employment    ­­
____________________________________________________________________
q Alimony or separation allowances paid (include name(s) and address(es) of recipients; attach copy of agreement or court order for spousal support which was signed on or after May 1, 1997 or election, if changed or not previously provided)
____________________________________________________________________
q Commission and employment expenses (include details and T2200 or TL2)
q Carrying charges (interest on money borrowed to earn investment income, investment counsel fees, interest for limited partnerships)
____________________________________________________________________
q Other deductions and expenses (attach receipts)
____________________________________________________________________
q Federal and provincial political contributions (attach receipts)
____________________________________________________________________
q Charitable donations (attach receipts) (provide details of gifts in kind, e.g., securities)
____________________________________________________________________
q Medical expenses (attach receipts) and details of private health insurance premiums, including amounts paid while travelling
q Disability deduction for you or dependant (if first-time claim, attach T2201 signed by physician)
____________________________________________________________________
q Receipts for children’s fitness tax credit (for dependants who were under age 17 at the end of the year; age 19 if eligible for disability credit)
____________________________________________________________________
q Receipt for children’s arts tax credit (for dependants who were under age 17 at the end of the year; age 19 if eligible for the disability credit)
____________________________________________________________________
q Adoption expenses
____________________________________________________________________
q Tuition fees (attach T2202/T2202A including amounts that can be transferred from dependants)
____________________________________________________________________
q Details of public transit passes (include passes for your spouse and children under 19 at the end of the year)
____________________________________________________________________
q Labour-sponsored funds – T5006
q Interest paid on student loans (attach reporting slip)
____________________________________________________________________

There are a few other necessary other items that may not apply to all taxpayers - so please review.
q Attach all details of your tax-free savings account (TFSA)
____________________________________________________________________
q 2013 Installments (attach February 2013 notice). Total remitted:
$ __________________________________________________________________
q Attach copy of 2012 assessment notices and other correspondence from the Canada Revenue Agency
____________________________________________________________________
q Amount of any contributions to or distributions from, or loans to or from foreign trusts in 2013
____________________________________________________________________
q Details of foreign property, other than personal-use property, if aggregate cost is in excess of $100,000, as well as any investment in “foreign affiliates”
____________________________________________________________________
q Indicate whether you wish to split pension income with spouse to reduce combined income tax:
YES:                                
NO:

q Indicate whether you are a U.S. citizen:
YES:                                
NO:


q If you are a single taxpayer, indicate whether you wish to include the Universal Child Care Benefit (UCCB) in your income or whether you wish to include the UCCB in the income of one of the children for whom the UCCB has been paid. 
I wish to include the U­­­­­­CCB in the income of one of the children:
YES:
NO:

Remember taxes don't have to be feared!   




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