After spending 2.5 hours on a home and business tax client that did not have anything in order or organized in any fashion for her 2016 tax year. I hope all my future clients can look at this blog post first!
Give your accountant the following documents
- your SIN., name as it appears on your SIN and your DOB.
- If you are married/common law the same for your spouse-and the total net income for applicable year. As well as date of marital change
- Canadian status
- Any names and DOB for dependants
- All T slips including T4, T4A, T2202A, T5007
- child care, disability tax credit, transit, medical and charitable donation
- mortgage statement and property tax statement or amount paid in rent
- Any Foreign property
- Any rental income, investment income or income of another origin
- student loan information if you have 10)If you are self employed
- info for primary vehicle for business purposes including, fuel, maintenance, insurance, registration, payments and parking. How much of the use is for business? Make of vehicle
- All business expenses such as professional fees, insurance, advertising, meals and entertainment, shipping, business travel, telephone and utilities, office expenses, rent
- benefits and bad debts
- professional fees for services such as legal and accounting
- bank fees and interest paid on loans such as credit cards
- if you work from home how much of the home you use for work
- business number, HST number and any other business identification including name of business and business address