Individual tax return preparation
With the help of our income tax planning experts, tax time can become “relax time” for individuals and families who enjoy spending their weekends in spring doing something other than madly filing tax returns. In addition to providing services in all areas of income taxation and the preparation of tax returns, our tax planning professionals also review Canada Customs and Revenue Agency (CCRA) inquiries and assessments for your specific requirements.
Individual income tax planning
Tax planning is an integral part of your overall financial planning process. Financial planning is essential to ensure that you and your family continue to enjoy a comfortable lifestyle throughout your life. By planning ahead, anticipating milestones and managing your assets around them, you will be prepared to face any challenge from the best possible financial position. The experts at Dumont & Co will thoroughly review your income earnings, investments, retirement plans, estate plans and the tax situations of all family members and then will incorporate all relevant factors into a long-term strategy, including opportunities to reduce or defer tax. Dumont & Co will process your return accurately, provide advice and help you plan your financial future, to be free of economic fear in the case of disability, retirement or death, or to educate your children.
Estates and Trusts
It is important to prepare and update your will and plan for your estate. Estate planning is an essential component of your overall financial plan and provides the peace of mind that your beneficiaries receive the greatest benefit possible upon your death. Dumont & Co will help you minimize taxes, settle your affairs and provide long-term management of your estate. A trust can be an effective way of ensuring property and finances are managed the way you want them to be – while you are alive and upon your death. We can provide both professional advice and administration of a long-term strategy.
Personal Income Tax Checklist
Use this form to save time and ensure that your paperwork is as complete as possible.
- CRA Assessments
- Employment Income (T4, T4A, T4PS)
- Employment Expenses (T2200 plus a list of expenses)
- Pension Income (T4A, T4AOAS, T4AP, T4RIF, T4RSP)
- Investment Income (T3, T5, T5008, T5013)
- Capital gains (T5013, trading summaries from brokers)
- Annual statement from Mutual Funds
- Other Income (Universal Childcare RC62, rental income and expense information)
- Self employment income and expense information (CPP contributions/EI premiums)
- Union/Professional dues
- Labour sponsored funds (T5006/EVCC30)
- Monthly bus passes
- First Time Home Buyer Credit
- Investment advice and accounting fees paid
- Donations (must be official receipts)
- Deductions and credits (Universal child care RC62)
- Rental income and expense information
- Self-Employment income and expense information (CPP contributions / EI premiums)
- Interest on investment loans
- Safety deposit box fees
- Deductions and Credits (RRSP (must be official receipts, Child care receipts, Children’s fitness amount, Children’s arts amount, Adoption expenses)
- Support payment information (Disability support deduction, Caregiver/disability amount)
- Moving expenses
- Installment payment information
- Medical/Dental/Optical receipts (less any reimbursements from Insurance)
- Premiums paid to Private/Travel Medical Insurance plans
- Tuition fees (T2202/2202A)
- Student Loan Interest slips
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