Personal Tax Return – Sole Proprietorship Tax Preparation Services

by | Income Tax Return Preparation, Personal Tax Return, Sole Proprietorship Tax Preparation Services

Personal Tax Return in Alberta Canada

Personal Income Tax Return for Individual Taxpayers | Self-Employed Individuals | Sole Proprietorship Tax Preparation | Tax Preparation Service | Alberta, Canada

Each year on April 30th of the following year, individual taxpayers are expected to file their income tax return for the previous taxation year. If a taxpayer or his or her spouse is self-employed (operating as a sole proprietorship business), the deadline for submitting tax returns for them is extended to June 15th of the following year; nevertheless, they must pay any tax owed to the Canada Revenue Agency by April 30th. If tax returns are not filed by the deadline, the penalties and interest could be significant. Our tax professionals are up to date on the most recent tax regulations and developments, and they will be able to complete your tax return using error-free software on time and with accuracy for your benefit.

Personal Tax Credits

An individual’s personal tax credits are deductions that they may be eligible to claim when filling out and filing their income tax return. These are measured using the TD1 form. There are federal TD1 forms as well as provincial/territorial TD1 forms available.

Personal tax credits that are not refundable can be used to lower the amount of taxes owed to zero. With a few exceptions, the majority of these cannot be carried over to subsequent years. Some, such as the tax credit for tuition, can be transferred to another person or carried forward to a future year. Medical expenses may be eligible to be recovered the next year, depending on the time of the incident.

Returnable tax credits reduce the amount of tax you owe by the same amount, but they are also accessible even if you owe no tax at all.

We provide the following services:

  • T1 Income Tax and Benefit Return:
    • having income from:
      • Employment
      • Business
      • Profession
      • Commission
      • Pension
      • Rental
      • Investment (dividends, capital gains)
      • Foreign income
      • All Other Incomes
    • having deductions and credits for expenses and contributions:
      • Capital losses
      • Non-capital losses
      • Business investment losses
      • Employment expenses
      • Moving expenses
      • Child care expenses
      • Medical expenses
      • Interest paid on student loans
      • Carrying charges and interest
      • Tuition, education and textbook amounts
      • Teacher’s school supplies
      • Membership Dues
      • RRSP contributions
      • Charitable donations
      • All Other Expenses and Credits
  • Preparation of Business Income Statement
  • Tax Planning and Minimization
  • GST/HST Returns
  • Uber / Lyft Tax Return
  • Deceased Tax Return
  • Final Tax Return
  • T4s Summary
  • CRA Correspondence
  • Bookkeeping (Online, Offline, Remote)
  • GST/HST Reporting Method Election
  • Registering for CRA Program Accounts
  • Incorporating and Business Registration

Tax Return Filing Services for Individuals

The process of filing a personal income tax return is not always as straightforward as filling out a couple of forms. Personal tax returns in Canada include financial information that affects practically every area of our life, including work, family structure, property ownership, investments, education, and other factors. There are dozens of different tax credits available, each with its own set of rules and eligibility criteria. There are no two identical personal tax returns.

It is for this reason that comprehensive personal tax return filing services are essential. Individuals who use a professional tax return filing service can optimize their available tax credits and deductions while also lowering their overall tax liability for a given period of time.

We prepare tax returns for a variety of taxpayers, including, but not limited to, the following:

  • Employed individuals
  • Self-employed individuals
  • Students
  • Seniors
  • New immigrants
  • Teachers | Professors | Educators
  • Doctors | Dentists | Chiropractors | Optometrists | Other Health Professionals
  • Lawyers | Paralegals | Immigration Consultants | Other Legal Professionals
  • Real Estate / Mortgage / Insurance / Sales Agents | Other Sales Professionals
  • Caregivers | Home Daycare Centres | Early Childhood Educators
  • Barbers | Hairdressers | Beauticians | aesthetics
  • Taxi / Limousine / Uber / Truck Drivers
  • Tradespersons | Firefighters

The following are some of the advantages of our services:

  • Before submitting your tax return to the Canada Revenue Agency, you will have the opportunity to review it with us and ask any questions you may have.
  • Keep your mind free of worry about submitting your tax returns on time and avoiding late filing penalties and interest.
  • Using the internet to communicate during tax season saves you money and time.
  • Tax preparation services that are flexible and cost-effective can be had at a reasonable price.
  • Take advantage of our Professional Tax Return Filers in Alberta Canada to have complete peace of mind at all times.

Why Should You Choose Us?

  • Your enquiries will be promptly responded to throughout the year by specialists with years of experience and dedication on your behalf.
  • Calculate the highest possible refund or/and the lowest possible amount of taxes.
  • Prepare accurate tax returns and see to it that they are filed on a timely manner.
  • Should it be necessary, we will advise you on the most effective tax planning and minimization strategies to employ.
  • Make use of tax software that is reliable, error-free, and always up to date when it comes to filing your taxes.
  • Year-round services should be provided while preserving strict secrecy, high standards of quality, and a professional approach.

Personal and Self-Employed Business Tax Returns are no problem for our Tax Professionals, who have years of experience preparing and filing them. We employ tax preparation software that is error-free and up to date. We compute the largest tax refund or the smallest amount of tax owing. Our tax preparers in Alberta, Canada, have up-to-date understanding of the tax code as well as the software necessary to file tax returns.

The preparation of personal tax returns varies from one client to the next. For personal tax return filings in Canada, there are no “one-size-fits-all” solutions or checklists, and your return should be updated each year to reflect your changing financial circumstances. In most cases, tax return software that provides a “one size fits all” solution fails to satisfy the needs of the customer and results in the client missing out on tax credits and advantages that they should be receiving.

Working with expert personal tax return accountants for comprehensive tax preparation services enables you to be fully tax compliant while also taking advantage of the tax credits that are available to you to maximize your income tax refund. Reduce your chances of making a mistake or missing a deadline, and ensure that you receive the tax refund to which you are due.