Books ’N’ Billing offers full-service, cloud-based, bookkeeping services to sole proprietors, limited liability partnerships, and small corporations within Saskatchewan. Are you a small business owner? Save yourself the stress and let Shelby Prescesky the owner of Books 'N' Billing help you get your business's books in order. Books N Billing is a Trusted Saskatoon Bookkeeping & Tax Services Specialist. In this article, she shares an ultimate tax checklist.
Your Ultimate Tax Checklist
It is that time of year again… tax season! If you are like most people, doing taxes is something you view as a dreaded task or you procrastinate doing. Do not fear, we have a helpful Tax Season Checklist to make doing your taxes easier to organize. This list will outline all the things we could need from you in order to prepare your income tax return.
Tax Slips
- T4 slips (Employment income)
- T4e Employment Insurance benefits
- T4A (other pensions, annuities, and certain scholarships)
- T4AP (CPP benefits)
- T4 RSP (RRSP income)
- T4 RIF (RRIF income)
- T4 A-OAS (old age security)
- T3 (Mutual Funds, REITs, ETFs)
- T5 (investment income – interest, dividends, certain capital gains)
- RC62 (Universal Child Care benefits)
- T5007 (Social assistance payments/Worker’s compensation benefits)
- T2202A (Tuition/education receipts)
- T5031 (partnership income)
- T2200 (Condition of employment/allowable employment expenses)
- All other information slips
Receipts
- RRSP contribution slips
- Medical expenses
- Support for a child, spouse, or common-law partner
- Transit pass receipts
- Charitable donations
- Office-in-home expenses
- Moving expenses (including realtor’s commissions)
- Exams for professional certification
- Carrying charges and interest expenses
- Other interest expenses
- Political contributions
- Childcare expenses
- Adoption expenses
- Children’s arts and sports expenses
- Tool expenses (tradesperson)
- Interest paid on your student loans
- Professional or union dues
- Attendant Expenses for the disabled person
- Other Documentation
- Notice of Assessment/Reassessment
- CRA Correspondence
- Amounts you have paid in tax installments
- Rental income and expenses
- Sale or deemed sale of stocks, bonds, real estate, etc.
- Disability tax credit certificate
- Business, farm, or fishing income or expenses
- Northern resident’s deduction receipts
- Commission employee expenses
- Automobile/Travel logbook and expenses (self-employed and commissioned employees)
- Volunteer firefighter’s certification
- Graduate Retention Certificate
- Search and rescue volunteer certificate
- Legal expenses to collect alimony, pension, or retiring allowances
Other Documents
- Notice of Assessment/Reassessment
- CRA Correspondence
- Amounts you have paid in tax installments
- Rental income and expenses
- Sale or deemed sale of stocks, bonds, real estate, ect.
- Disability tax credit certificate
- Business, farm, or fishing income or expenses
- Northern resident's deduction receipts
- commission employee expenses
- Automobile/travel logbook and expenses (self-employed and commission employees)
- Volunteer firefighter's certificate
- Search and rescue volunteer certificate
- Legal expenses to collect alimony, pension, or retiring allowances
Shelby's mantra and the business tagline is one most small business owners can get behind...
Running your own business can be exciting… managing your own books can steal your joy.
If you need a second opinion, or you are at that stage in your business where you are ready to hand over the bookkeeping to a professional contact Shelby at Book N Billing today!
Books N Billing Bookkeeping Services Include:
