What to Prepare for Tax Time - Personal Tax Returns
Updated: Jan 10, 2021
Although tax season just finished for most of us, the next one is just around the corner.
This year in Canada, you will be able to claim a bit more on your personal return if you had to work from home due to COVID. To be prepared, you can put together your tax paperwork in advance.
At a minimum:
Expenses related to your COVID allowed expenses
Student loan repayment paperwork (specifically in regards to the interest you paid on the loan)
Rental income and expenses
If you plan to complete your return yourself - two great DIY programs out there are:
Both programs are simple to use
Prices include e-filing with the CRA
Both programs can pull your data from the CRA to make sure that you haven't forgotten any T-slips
If you would rather have help from a firm like ours, give us a shout via email at email@example.com or give us a call at +1.587.997.6636 and we would be happy to help you out.