2018 Personal Tax Reminder
Greetings from Kelvin at Clearly Financials (merged with Bud and Company Professional Corporation). I look forward to meeting with you again this tax season to discuss your tax situation and tailor our services to suit your needs.
Reminder, the general deadline for filing and paying personal taxes is April 30th.
Personal Tax Checklist and Guide
Please complete the “CFAC Personal Tax Checklist” and include it with your records.
This form serves as a guide in helping you gather your documents, and it will also highlight items for us to focus our discussions on during our meeting time. Feel free to call us if you have any questions, we can also assist you with completing this form in person during our meeting.
A Detailed Personal Tax Guide is also available on our website.
Business and Professional Activities
If you have a self-employment income from business or professional activities (also called a sole-proprietorship) please complete the CFAC Business Summary.
An excel template is available to assist with basic, small-business bookkeeping.
Real Estate Rentals
If you have income from a rental property, please complete the CFAC Rental Summary.
An excel template is available to assist with rental bookkeeping.
Please call me at 780-988-9812 if you have any questions about these forms.
We take pride in our work preparing your personal tax returns. We perform a thorough review process on all tax returns to ensure accuracy. We are passionate about getting to know your situation so that we can maximize tax deductions and tax credits that you may be eligible for.
Call me today at 780-988-9812 or email me at firstname.lastname@example.org to book your appointment or if you have any questions.
Thank you again for choosing Clearly Financials. I appreciate the opportunity to serve you again and look forward to seeing you.
Kelvin Leung, CPA, CMA
Personal Tax Updates and Reminders
The Canada Revenue Agency (CRA) is phasing out refund cheques and Direct Deposit will be mandatory. If you have not already signed up for direct deposit, please bring a void cheque to enroll in Direct Deposit with the CRA.
The child fitness, child arts, and public transit tax credits are no longer available. The Federal Education and Textbook credits have also been eliminated. Existing credits may still be used or carried forward.
Disposition of Principal Residence
Starting with 2016 tax returns, the CRA requires taxpayers to report the sale of their principal residence. This applies even if there was no gain on the property. Ensure to let our office know if you disposed of any real estate.
CRA Online Mail
You can register to receive some correspondence from the CRA electronically. If you select this option, you will no longer receive printed copies mailed to you.
Beware of Tax Scams!
Tax Scams are on the rise. Beware of fraudulent emails and phone calls! Emails from the CRA will not contain attachments, links, or ask for personal/financial information.
CRA Agents will not ask you to pay your tax balances with credit cards, gift cards, or cryptocurrencies.
Call our office at 780-988-9812 to verify the authenticity of correspondence from the CRA.