INCOME TAX TIME

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INCOME TAX TIME

NEED A BOOKKEEPER/ACCOUNTANT  http://www.jswerrybooks.com/

CALL JENNIFER WERRY – BOOKKEEPER AND LEGAL ASSISTANT

2011 Tax Information Checklist

Please check all that apply and keep receipts and information with checklist.

  • Personal information about yourself, your spouse and dependents
    • Name
    • Address
    • Birth dates
    • Social insurance #
    • Email address
  • T-slips
    • T4 – wages
    • T5 – Interest & Dividends
    • T5013 – Statement of partnership income
    • T600 – Canada Savings Bonds, etc…
    • T3 – Trust & mutual fund income
    • T4OAS – Old age security
    • T4E – Employment insurance
    • T4RIF, T4A, T4RSP – Pension and annuity income
    • T2202A – Tuition receipts (if transferring, signature and name of designation required)
  • Union/ Association Dues
  • Notice of Assessment for 2010
  • Details of foreign property owned (shares of foreign companies, rental properties, etc…)
  • Investments on which interest has been earned, but not received
  • Capital dispositions (sale/redemption of mutual funds, sale of shares, real estate)
  • Details of rental income earned and expenses
  • Details of business income earned and expenses
    • Bookkeeping services available
  • Child care expenses
    • Name, address and social insurance number of daycare provider required
  • Children’s fitness receipts and sports club registrations
  • Alimony/ child support paid/received during the year
    • Name, address and social insurance number of person receiving payments required, and a copy of the separation/ support agreement if not previously submitted
  • 2010 income tax instalment receipt – including your December 15th payment
  • Property tax OR rent paid on your residence (receipts are imperative for claim)
  • Interest on student loan payments
  • Health and dental plan costs (self-employed)
  • Ontario Senior Homeowners’ Property Tax Grant Notice

OTHER Information Slips

  • RRSP Contributions
  • UCCB (Universal Child Care Benefit – RC62)
  • Charitable Donations (Registered Charities)
  • Medical Expenses (certification required for prescriptions, travel over 40 kms, meals, etc…)

Business Use of Home Office

Compile these expenses for a yearly total to be prorated for the use of space in your house to earn business revenue

  • Heat
  • Hydro
  • Mortgage interest
  • Property tax
  • House insurance
  • Telephone and internet
  • Repairs and maintenance

Business Use of Vehicle

Compile these expenses for a yearly total to be prorated for the use of your vehicle to earn business revenue

  • Car insurance
  • Parking
  • Gas and oil
  • Car/ lease payments with amount of interest if included
  • Repairs and maintenance
  • KM’S driven for the year total and KM’s driven for the year for business

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About Pauline

Pauline Hoffman, CPO® founded Just In Time Solutions in November of 2001. Her clients feel comfortable and at ease as they make important, and sometimes daunting decisions about their space and belongings. Clients often comment how much easier their lives have become, which allows them to maintain a more independent lifestyle, regardless of age and/or ability.

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