Tax Preparation Services in Burnaby

Accountants-BC Ltd. takes the hassle out of filing personal income tax and business tax returns. We’re Burnaby’s top source for all the tax assistance you require to file accurately and on time. Our tax advisors will answer your questions and identify all the credits and deductions you may be eligible to receive.

Contact us today at (604) 683-2341 and book an appointment to consult with one of our licensed tax specialists.

Schedule Tax Preparation Services

What Are Tax Preparation Services?

Tax preparation services encompass a range of professional assistance provided to individuals and businesses to facilitate the preparation and filing of their tax returns.

Here's an overview:

Gathering and Organizing Financial Information

Tax preparers help clients gather and organize all relevant financial documents required for tax filing.

Calculating Tax Liabilities

Tax accountants calculate tax liabilities and assess income from various sources, deductions, credits, and other factors to determine the amount of tax owed or refundable.

Filing Tax Returns

Tax agents complete and file tax returns on behalf of their clients with the Canada Revenue Agency (CRA). They ensure all relevant information is accurately entered into appropriate tax forms, including federal, provincial, and territorial schedules.

Maximizing Tax Deductions and Credits

Tax preparers help clients identify and claim all eligible deductions, credits, and tax-saving opportunities available under Canadian tax laws. This includes deductions for contributions to Registered Retirement Savings Plans (RRSPs), childcare expenses, tuition fees, and various tax credits like the Canada Child Benefit (CCB) and the Working Income Tax Benefit (WITB).

Providing Tax Planning Advice

Taxation accountants advise on tax planning strategies to minimize tax liabilities in the current and future tax years. They may recommend strategies like income splitting and tax deferral, using tax-efficient investment vehicles like Tax-Free Savings Accounts (TFSAs) and Registered Retirement Savings Plans (RRSPs), as well as optimizing deductions and credits.

GST/HST and Other Indirect Taxes

Tax prep agents assist businesses with Goods and Services Tax (GST) or Harmonized Sales Tax (HST) compliance, including registration, filing returns, and claiming input tax credits.

Accountants-BC Ltd.’s Tax Preparation Services

  • Individual tax preparation
  • Self-employed tax services
  • Business tax preparation
  • Unfiled tax assistance
  • Late tax filing guidance
  • Audit representation
  • Back tax filing

Which Documents and Information Do I Need to Provide When Filing My Taxes?

  • Personal information:
    • Social Insurance Number (SIN) or Individual Tax Number (ITN) for you and your spouse/common-law partner.
    • Full names, dates of birth, and relationship statuses for yourself, your spouse/common-law partner, and dependents.
  • Income documents:
    • T4 slips: Statement of Employment Income
    • T4A slips: Statement of Pension, Retirement, Annuity, and Other Income
    • T5 slips: Statement of Investment Income
    • T3 slips: Statement of Trust Income Allocations and Designations
    • T4RSP and T4RIF slips: Statement of RRSP and RRIF Income
  • Deduction and credit documents:
    • Receipts for deductible expenses (medical expenses, charitable donations, childcare expenses, tuition fees, and eligible employment expenses)
    • RRSP contribution receipts.
    • Student loan interest statements
    • Public transit passes
    • Receipts for eligible home renovation expenses
    • Receipts for eligible children's fitness or arts programs
  • Investment and financial documents:
    • Statements for investment accounts (brokerage accounts, mutual funds, and savings accounts)
    • Documentation for capital gains or losses
    • Notices of assessment from previous years
  • Other documents:
    • Records related to rental income and expenses
    • Records related to self-employment income and expenses
    • Records of moving expenses
    • Records of any eligible foreign tax credits or deductions
  • Receipts and records:
    • Keep receipts and records for all deductions and credits claimed on your tax return. The CRA may ask for supporting documentation in case of an audit or review.
  • Tax forms:
    • T1 General Income Tax and Benefit Return

Contact Our Team for Tax Assistance

Whether you’re planning to file your personal income tax or represent an organization looking for intuitive tax assistance, Accountants-BC Ltd. is here to help. We’re Burnaby’s preferred tax assistance specialists.

Call (604) 683-2341 now to learn more about the steps we take to ensure your return is accurate.