Personal Taxes

U.S. Tax Preparation

Are you a Canadian citizen but generating income from the U.S.? Have you won any lottery in the U.S.? Want tax advice in Canada? Or are you an American citizen living in Canada? Then, you’re required to pay U.S. tax. Numeracy accounting solutions will help you out in either way. Our professional experts offer different tax services. These services are available to individuals, small businesses, and self-employed professionals.

In Canada, personal income tax requires a deep understanding of tax strategic planning. And also to overlook the current regulations by CRA tax return policies. Individuals are required to file income tax returns yearly. This includes the reporting of their earnings, deductions, and credits. With the help of these, they provide accurate taxation. Also, certain deductions and credits are available because of the differences between Canada’s taxes and the U.S. tax system. This will save you from double taxation.

Here, we can help you prepare both returns to ensure you will be asked to pay the most minor taxes.

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Give you customized tax plan to help you save

Answer your questions promptly throughout the year

Prepare and file your return accurately and on time

Personal Taxes Services

Our Expertise

The difficulties of the tax system can be frustrating. However, the experienced professionals at Numeracy Accounting Solutions are proficient. At Numeracy Accounting Solutions, our team completely understands how the system of personal income tax works in Canada. We aim to provide the best solution that can impact your financial standing.

Are you an individual looking for help with your tax return? Or a small business owner dealing with the difficulties of business taxes? Numeracy Accounting Solutions has the best expertise to guide you throughout the process. We are experts in providing GST/HST tax deductions in Canada as part of our tax service offerings.

From tax planning to preparing and filing income tax returns, we are committed to helping you in any possible way. Our experts promise accuracy and compliance with Canadian tax return laws. The services extend to self-employed individuals, small businesses, and those with rental income. We deal with personal and business-related tax matters.

We Specialize In Tax Returns For

  • Married Couples
  • Couples with children
  • Commission Income taxpayers
  • Students
  • Personal Tax Services
  • Employed Professionals
  • Investors with multiple sources of income
  • Seniors with Canadian or Foreign pensions
  • Clergies with Residence Deduction
  • Self Employed Taxes
  • Prior Year Taxes
  • Remote Tax Filing Services
  • Tax Audit Services
  • Tax Adjustments
  • Tax Planning Services
  • Disability Tax Credit Program
  • New Immigrant Tax Services
  • Voluntary Disclosure Program
Taxes Filing

Instant Tax Refund

Never wait for your tax refund.
Sit down with one of our tax experts to see if you qualify. The only fees you’ll pay are capped by the Federal Government of Canada. You will pay 15% on the first $300 of your refund and then 5% on the rest. Minimum refund amount may apply. So why wait for your refund? Get your Instant Refund on the spot.

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Our Services

Tax Preparation in Canada and Filing Service:

Revenue agencies in personal tax services play a crucial role in overseeing and managing the collection of individual taxes and ensuring compliance with tax regulations. At Numeracy Accounting Solutions, we specialize in tax preparation services. To each individual, we help provide accuracy and efficiency in their income tax return filing. The firm ensures flawless and secure filing of taxes in Canada with experience.

Personal Taxes Planning:

Planning a tax strategy is crucial for maximizing your financial outcomes. Numeracy Accounting Solutions works closely with clients and develops personalized tax plans accordingly. We also help identify opportunities for tax credits and deductions to cut liabilities due to tax.

Small Business Tax Services:

Small businesses play an important role in the Canadian economy. And Numeracy Accounting Solutions diversifies its expertise. The firm provides custom-made tax help for small businesses in Canada. They ensure proper tax regulations and maximize tax efficiency.

Financial Planning and Advice:

Apart from providing tax services, Numeracy Accounting Solutions offers financial planning and advice. Are we planning for retirement? Or investment? Or other financial goals? Our skilled experts always stand out in providing the best valuable solutions. We also help by providing our services for RRSP tax deductions in Canada. We aim to help each client in making decisions after being well-informed.

Specialized Tax Services:

Our firm covers various tax needs. This includes self-employees, rental income tax Canada reporting, and capital gains tax Canada considerations. Numeracy Accounting Solutions is a team of experts in specialized tax scenarios.

Numeracy Accounting Solutions is dedicated to helping its trusted clients. Our goal is to maximize tax refunds. Through a complete review and analysis, our team identifies opportunities. These opportunities help to optimize deductions and credits. We ensure that our clients receive as much of the refund as possible.

We recognize the importance of tax filing. Numeracy Accounting Solutions offers its free tax filing Canada service to eligible individuals. We aim to make tax compliance more accessible. Our commitment is to provide affordable and cheap tax preparation services in Canada. The team helps identify the different financial situations of clients. Numeracy Accounting Solutions offers cost-effective solutions without compromising on quality.
Numeracy Accounting Solutions stands out for its prompt and efficient individual tax return Canada service. The world is living in advanced technology. Our goal is to ensure the submission of returns on time, reducing stress for clients during the whole tax season in Canada.

Personal Taxes Software Canada:

Numeracy Accounting Solutions holds the latest advanced personal tax software in Canada. This helps in streamlining the tax preparation process efficiently. This cutting-edge software provides accuracy and ensures clients can easily handle their tax returns.

Our skilled team of experts is competent in arranging Canadian tax forms. We ensure clients complete their returns precisely and comply with the latest regulations. Numeracy Accounting Solutions stays updated if there are any changes in tax forms. We always focus on guaranteeing thorough and accurate submissions of the document.

Our Tax Services to Locals:

Numeracy Accounting Solutions extends its tax services to local businesses situated in Mississauga. Our firm is well prepared for Mississauga tax return regulations. Our experts are well aware of the Mississauga tax preparation policies. We provide tailored solutions to meet the needs of each business person.

Are you looking for tax preparation? Or advice? or general assistance? We provide you with all personal tax services. Numeracy Accounting Solutions offers the Mississauga tax help with reliable and dedicated tax services. Because of Our firm’s local presence, we ensure accessibility and convenience for each client in the area.

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Contact us now, or search for the best tax accountant near me in Canada, Mississauga, for personal tax services; they suggest the best firm, Numeracy Accounting Solution. Get your checklist and get started. You’re only one step away from receiving the best tax service in Canada offered by our firm, Numeracy Accounting Solutions.

 

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T1 Checklist

  • Please note any change in address
  • Please provide a list of dependents/children with their birth dates and income
  • Please notify us of a change in your marital status in 2018 and on what date the status changed
  • Please note whether you owned foreign property at any time in 2018 with a cost in excess of $100,000
  • Please note if you are a US citizen since it is likely you have US filing requirements
  • Documents related to the sale of any property, including your principle residence
  • T4 slip which reports employment income
  • T4A slip which reports other employment income and self-employed commissions
  • T4PS slip which reports benefits received from an Employee Profit Sharing Plan
  • A T2200 form signed by your employer if you are claiming employment expenses
  • A summary of employment expenses, including a vehicle log book
  • If you are an apprentice, a summary of tools purchased
  • Any stock option income not reported on a tax information slip
  • Professional/union dues receipts
  • T3 and T5 slips which report investment income
  • A summary of investment purchases and sales during the year
  • Details of the cost of investments sold during the year if it is not included in the investment sale summary
  • Details of interest paid to earn investment, property or business income
  • Details of investment management, accounting and safety deposit box fees
  • Details of investment income that was not reported on a T3 or T5 slip
  • Details of any investment properties such as real estate sold during the year
  • T4RSP and T4RIF slips which report withdrawals from RRSP’s and RRIF’s
  • T4A(P) slip which reports CPP income
  • T4A(OAS) slip which reports Old Age Security income
  • T4A slips reporting pension income
  • Details of other foreign pensions received (US Social Security, other overseas pension etc.)
  • Summary of rental revenue and expenses for the year
  • Details of capital purchases during the year (for example a building addition)
  • Summary of business revenue and expenses for the year
  • Details of capital equipment and property purchases during the year
  • Details of vehicle purchases during the year
  • Details of equipment, vehicle and real estate sales during the year
  • Summary of business use of vehicle (business km compared to total km), including a vehicle log book
  • Summary of business use of office in home
  • Summary of farm revenue and expenses for the year
  • Details of farm subsidies received
  • Details of capital equipment and property purchases during the year
  • Details of vehicle purchases during the year
  • Details of equipment, vehicle and real estate sales during the year
  • T4E slips which report benefits such as maternity, unemployment etc.
  • T4A slips which report scholarships etc.
  • RRSP contribution receipts
  • Details of any RRSP Home Buyers’ Plan or Lifelong Learning Plan withdrawals and repayments
  • T2202 slips from post-secondary education to report tuition fees paid for yourself or any of your dependents
  • T5013 slip that reports income earned from a partnership
  • Details of child care expenses
  • Details of spousal and child support received or paid during the year
  • Medical expense receipts
  • Details of any expenses paid in the process of adopting a child
  • Charitable donation receipts
  • Political donation receipts
  • Summary of moving expenses
  • If you were a first time home buyer please provide the address of the home
  • Interest paid on student loans that are registered under the Canada Student Loans Act
  • A completed T2201 form if you, your spouse or one of your dependents became disabled during the year

“Welcome to Canada”
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STARTER PACKAGE

“Welcome to Canada”
New Immigrant Package

Are you a new immigrant? You may be eligible for quarter GST/HST credit payments and monthly Ontario Trillium Benefit payments.

If you have dependent children, you will also need to apply for the Canada Child Benefit.

In addition, Canadian taxation is based on Worldwide Income which means each Canadian resident must pay taxes on income earned anywhere in the world after they become residents of Canada.

FAQ's

Individual income tax is also referred to as personal income tax. This type of income tax is levied on an individual’s wages, salaries, and other types of income.

Every resident of Canada is required to file a Canadian income tax return annually. Before filing your tax return, you must determine whether you are a resident, a “deemed” resident or a non-resident of Canada for tax purposes.

Failing to pay your taxes is not a crime, but failing to file your tax returns is because it’s considered tax evasion. And the penalties for tax evasion are harsh. According to Section 238 of the Income Tax Act, failing to file your tax return can result in a fine of $1,000 – $25,000 and up to one year in prison

The minimum personal amounts ($12,719 for 2022, $12,421 for 2021) are indexed. The maximum personal amounts are stated in the Income Tax Act, but will be indexed after 2023