Frequently Asked Questions

At a minimum, you'll need your T4 slips (employment income), T5 slips (investment income), RRSP contribution receipts, and any receipts for deductions such as medical expenses, charitable donations, or childcare. If you have rental income, bring your rental statements and expense receipts. We provide a detailed checklist when you book your appointment.

For most Canadians, the T1 filing deadline is April 30. If you or your spouse are self-employed, you have until June 15 to file, but any balance owing is still due by April 30 to avoid interest charges.

Yes. We work with sole proprietors, freelancers, and incorporated small businesses. Our services include T2125 preparation, GST/HST registration and filing, financial statement preparation, and year-end tax planning to help minimize your tax burden.

Incorporation can offer tax advantages such as the small business deduction and income splitting opportunities, but it also comes with additional compliance requirements and costs. We assess your specific situation and advise whether incorporation makes financial sense at your current stage.

We work primarily with QuickBooks Online, Xero, and Wave. If you're using a different platform or still working from spreadsheets, we can help you transition to a system that fits your business needs and budget.

We process payroll on your chosen schedule (weekly, bi-weekly, semi-monthly, or monthly), calculate source deductions for CPP, EI, and income tax, remit those deductions to CRA, and prepare T4 and T4A slips at year-end. We also handle ROE preparation when employees leave.

Absolutely. Whether it's a request for additional documentation, a notice of reassessment, or an audit letter, we can review the correspondence, prepare the necessary response, and communicate with CRA on your behalf as your authorized representative.

Yes. While we're based in the Kitchener-Waterloo area, we serve clients across all Canadian provinces through secure virtual meetings and digital document exchange. Geography is not a barrier to working with us.

The Scientific Research and Experimental Development (SR&ED) program is a federal tax incentive that provides investment tax credits to Canadian businesses that conduct eligible R&D activities. This includes work to achieve technological advancement through systematic investigation or experimentation. Eligible expenditures can include salaries, materials, and certain subcontractor costs.

Your business may qualify if it conducted work to resolve a technological uncertainty that couldn't be solved using standard practice. This applies across industries, from software development to manufacturing process improvements. We offer a no-obligation initial assessment to review your projects and determine eligibility.

The value of an SR&ED claim depends on the type and amount of eligible expenditures. Canadian-controlled private corporations (CCPCs) may receive a refundable investment tax credit of up to 35% on the first $3 million of qualifying expenditures. The rate and refundability vary based on your corporation's taxable income and capital. We calculate the expected credit as part of our assessment.

We are currently building a secure client portal that will allow you to upload documents, view your filings, and communicate with our team directly. This feature is planned for launch in Phase 2 of our website. In the meantime, we use encrypted email and secure file-sharing tools to protect your information.

Our fees depend on the complexity of your situation. Personal tax returns start at a flat rate, and business services are quoted based on scope after an initial consultation. We provide a clear estimate before any work begins, and there are no hidden charges. Book a free consultation to discuss your needs.

Book a free initial consultation through our website or call us at 519.635.4622. We'll discuss your situation, recommend the right services, and provide a clear quote. Once you're ready, we'll send you a checklist of everything we need to get started.

Yes. We regularly help clients who have unfiled returns from previous years. Filing late returns is important to avoid penalties and to access benefits like the GST/HST credit and Canada Child Benefit. We can also advise on the Voluntary Disclosures Program if applicable to your situation.

A Notice to Reader (NTR) is a compilation of financial statements based on information provided by management, with no assurance from the accountant. A Review Engagement includes limited assurance — the accountant performs analytical procedures and inquiries to assess whether the statements are plausible. Lenders and investors often require a Review Engagement for financing applications.

Both options have trade-offs. Salary creates RRSP contribution room and CPP pensionable earnings, and is a deductible expense for the corporation. Dividends are taxed at a lower personal rate through the dividend tax credit but do not generate RRSP room. Most owner-managers benefit from a combination of both, optimized based on their personal and corporate tax situation.

A T2 corporate return is due six months after the corporation's fiscal year-end. However, any balance owing must be paid within two or three months of year-end, depending on the corporation's size and taxable income. Late filing penalties and interest apply if either deadline is missed.