Category Archives: Uncategorized

Preparing to file your taxes?

I know tax talk is not everyone’s cup of tea, but in my experience, having a simple checklist can really help alleviate that overwhelming feeling of burdensome bureaucracy. So whether you are filing your own taxes or are having someone else do them for you here’s a list of what you need to put together:

a) personal details: name, address, sin, date of birth and marital status (name and sin of partner if common-law or married)
b) all income information including:
T4, Statement of Remuneration Paid
T4A, Statement of Pension, Retirement, Annuity, and Other Income
T4A(OAS), Statement of Old Age Security
T4A(P), Statement of Canada Pension Plan Benefits
T4E, Statement of Employment Insurance and Other Benefits
T4RSP, Statement of RRSP Income
T5007, Statement of Benefits
RC62, Universal Child Care Benefit statement
RC210, Working Income Tax Benefit Advance Payments Statement

c) information about dependents – ages, plus any eligible expenses including childcare, arts and sports expenses

d) any student loan payments (you should receive a statement which details how much interest and principal were paid off over the year.)

e) Your Notice of Assessment from your most recent tax return

f) Details about any RRSP contributions made

g) If you want to file your taxes online (by far the quickest, easiest and even the cheapest option), you need your NETFILE access code, which should be sent to you by mail.

NB. VERY IMPORTANT. To use NETFILE CRA must have your current address. If you have a different one than the one they have on file, you must first contact them to update your address. If you are not sure which one they have, call the NETFILE Help Desk: 1-800-714-7257.

Advertisements

Welcome to Bird’s Eye View

 

Welcome to Bird’s Eye View, the blog for Bird’s Eye Bookkeeping in Victoria, B.C.

I am a self-employed bookkeeper and freelance writer passionate about supporting the growth of local small businesses.

The other day, in celebration of BDC Small Business Week (October 16-22, 2012), I started making a list on Facebook of everyone I knew of who was self-employed. As I began typing names, I was astounded by how long the list grew. I started with the small business owners I work with or patronize, but as I looked over my friends list, I realized how many people work as independent subcontractors in the trades, or as artists, performers and musicians. Some people run a small business on the side of regular employment, others are successfully working full time at their business. Some are struggling financially, others have found their groove. All of them inspire me to continue along the challenging but rewarding path of self-employment.

As a small business owner myself, I learn daily from the successes and challenges met by my clients, friends and community members who run their own businesses. I hope to share some of this inspiration, as well as to provide some bookkeeping tips along the way.

I will also be profiling local business owners and inviting them to share some of the lessons they have learned on their roads to financial self-sufficiency.

Now I best get back to work.