Sherwood Park and Edmonton Accountant Tax Checklist – BOMCAS

BOMCAS Sherwood Park and Edmonton Accountant Tax Checklist. At BOMCAS we specializes in Bookkeeping, Payroll for Corporate, Small and Medium size Business and Tax preparation and filing for Corporation, sole proprietorship and individual personal tax. We serve clients throughout Sherwood Park, Edmonton and surrounding areas. Local and virtual accounting services provided in order to help client that is unable to visit locally.

Our experience and qualify team have been providing Accounting and Tax service for many years. When you are looking for a one stop accounting and tax services, we are there to provide a complete solution package for you. Contact us Now

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Personal Tax Checklist

PERSONAL TAX INCOME:

Employment income and commission –T4
Employment insurance benefits – T4E
Workers’ compensation benefits/Social Assistance – T5007
Interest and dividends – T3/T5
Old age security pension – T4OAS
CPP benefits / Disability benefits – T4AP
Other pension or superannuation
Other pensions and annuities – T4A
Elected split-pension amount (T1032)
Taxable amount of dividends (eligible and other than eligible) from taxable Canadian Corporations
RRSP income or withdrawals T4RSP/T4RIF
Sales or deemed sale of stocks, bonds, or real estate
Spousal support received
Other income (Specify)
Business, Rental, Farm or Professional income /expenses (Only Self-employed)
Registered disability savings plan income- T4A
Taxable Capital Gains
- Purchase and sale of qualified small corporations’ shares
- Purchase and sale of publicly traded shares, mutual funds etc
- Purchase and sale of qualified farm and fishing property etc
- Purchase and sale of real estate, depreciable property, and other property (other than principal residence)
- Purchase and sale of bonds, debentures, promissory notes, and other similar properties etc
Statement on Partnership Income/Loss -T5013/T5013A
Universal child care benefits received – RC62

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Personal Tax Deductions:

RRSP contributions receipts
Union or professional receipts
Universal child care benefits repayment
Child care expenses ( receipts, name and address of daycare)
Disability supports payments
Moving expenses (Moved 40 km closer to work or school)
- Loan interest for investment
- Safety deposits box charges
- Accounting fee
- Management or Safe Custody fees
- Investment counsel fees
Spousal support paid
Exploration and development expenses (T1229)
Northern resident’s deductions (T2222)

Personal Tax Credits:

Public transit amount (you, your spouse, dependents children under 19)
Home renovation expenses (between $1000 and $10,000)
Children fitness amount (Max $500 for each child under 16 years of age or under 18 years of age if eligible for the disability amount)
Adoption expenses
Caregiver amount
Disability amount (for self) – T2201 required
Disability amount transferred from a dependent- T2201 required
Interest paid on student loans
Tuition, education, and textbook amounts– T2202/T2202A
Tuition, education, and textbook amounts from a child
Medical expenses for self, spouse or common-law partner and dependent children born in 1992 or later
Allowable amount medical expenses for other dependents
Charitable donations
Political contributions
Overseas employment tax credits (T626)
Federal foreign tax credits (T2209)

Others:

Last year T1 Notice of Assessment
Receipts are required in order to claim any income or deductions
Income taxes paid in installments

Contact us for any Assistance needed in completing your Tax