Tax Return Preparation Toronto
GENERAL ITEMS
o Copy of last year’s tax return
o Copy of spouse’s tax return
o Your current contact info
o Copy of any foreign tax return filed (U.S. citizens must file U.S. returns)
o 2021 Notice of Assessment
o Other years’ reassessments received in the current year
o Your personal status such as dates of marriage, separation, divorce or widowed, births & deaths
o Name & SIN of spouse & dependents
o Note consenting to provide your income tax information to Elections Canada
o Installment payments made, if any
o Details of foreign property holding (if any) (T1135)
o Contact details & consent to discuss your investments with any advisors o Details of lawsuit settled in 2022 o Support & settlement details resulting from matrimonial changes, if any
o TFSA Statements
o Direct deposit information, if desired or bank changed INCOME DETAILS o Employment Income (T4)
o Pension income (T4A, T4A(P), T4RIF, T4RSP) o U.S. social security & any other foreign pensions
o Old age security (T4OAS) o Investment income (T5)
o Income from trusts such as mutual funds investments (T3)
o Income from employment insurance (T4E)
o Income from partnerships (T5013)
o Workers compensation/social assistance payments (T5007)
o Details of the sale of securities such as stocks & bonds (eg. realized gain/loss report from your broker), possible T5008 slips o Details of real estate sales & purchases
o Income from foreign investments o Spousal support payments received
o T4A for any miscellaneous income received during the year
o T4PS (profit sharing) DEDUCTIONS – EMPLOYEES o Trades people & apprentice tool purchases, if eligible
o Declaration of conditions of employment (T2200)
o TL2 meals & lodging for transportation employees
o Expenses not reimbursed by your employer
o Office rent if required as a condition of employment
o Home office expenses
o If you are a commissioned salesperson, details supporting advertising expenses, promotion, meals & entertainment DEDUCTIONS – MOTOR VEHICLES, IF ELIGIBLE
o Total kilometers driven & kilometers driven just for work
o Details of total expenses
o New vehicle, purchase invoice/agreement
DEDUCTIONS – GENERAL
o RRSP contributions
o Medical, dental, prescription drugs, nursing home expenses
o Payments to a private health insurance plan
o Charitable donations
o Tuition fees/education amount (T2202A for Canadian & TL11 for foreign universities) for yourself or transferred from a dependent, signed by student
o Interest paid on student loans
o Professional dues & insurance, union dues
o Interest on loans assumed to purchase investments
o Professional consultant fees
o Legal fees paid to establish child spousal support or to enforce a pre-existing agreement
o Legal fees paid to recover wages from your employer
o Details of people you support & their medical status
o Child care receipts (if for camp, list dates attended)
o Non-reimbursed moving expenses if you moved 40 km or closer to a new work space location
o Property taxes or residential rent paid & to whom
o Ontario health home renovation costs incurred by those 65 & older
o Political contributions receipts
o Disability tax credit claim form completed by authorized health practitioner (T2201)
o Spousal support payment paid
o Adoption expense
UNINCORPORATED BUSINESSES
o Software backup of bookkeeping records, if computerized (include password)
o Manual book keeping records
o Total sales revenue or receipts for the year, if books not kept
o Total expenses listed by category for the year or receipts, if books not kept
o Capital assets acquired (eg. computers & peripherals, furniture & equipment)
o Home office expenses
o Partners’ names, addresses, SINs & per cent interest
RENTAL PROPERTIES
o Address & number of units
o Rental income by unit
o Rental expenses by unit & by category of expense
o Partners’ names, addresses, SINs & per cent interest
o Details of any capital additions over $500, including furnishings & appliances