Spring is traditionally the season when many individuals in the U.S. seek assistance from a personal tax accountant. At DEPEW FI, we specialize in preparing and filing personal income tax returns (T1) for hundreds of Canadians each year, leveraging our extensive experience to ensure accuracy and compliance.
When you choose DEPEW FI Chartered Accountant as your personal tax advisor, we help you identify all the necessary tax slips required to complete your return. Below is a typical list of income sources and corresponding slips commonly included in personal tax filings:
- Employment Income – T4, T4A
- Pension and Annuities – T4A, T4A(OAS), T4A(P), T4RIF, T4RSP
- Investment Income – T5, T3, T600, T5008, T5013 or T5013A
- Foreign Assets
- Rental Income
- Registered Retirement Savings Plan (RRSP) Income – T4RSP
- Schedule of Capital Gains and Losses
- Income from Self-Employment
- Debt Forgiveness
- Other Income, including slips such as – T4E, T4PS, T5007, RC62, RC210
As your trusted tax accountant in the U.S., DEPEW FI also helps identify potential deductions you may be eligible to claim. Below is a list of common deductions that may apply:
- Employment Expenses – Form 2200
- Investment-Related Deductions – T101, T102, T5003, T5004, T1-CP
- Rental Property Expenses
- RRSP Contributions (including up to March 1 of the following year)
- Union, Membership, and Professional Dues
- Moving Expenses
- Child Care Expenses
- Alimony and Maintenance Payments – T1157
- Disability Support Expenses
- Allowable Business Investment Losses (ABIL)
- Legal Fees
- Stock Option Deductions
- Income Tax Installments Paid
- Pension Adjustment Reversals / Past Service Adjustments – T10, T215
- Fines, Penalties, and Levies