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Toronto Tax Return Filing

The objective of any small business owner is to achieve success in both the marketplace as well at a financial level. However easy it may sound, it isn’t a task each one of you may be competent to accomplish. In situations, like these professional assistance is an ideal resort.

If you are caught up with the complexities of financing and are looking for some professional help, then Budget Accounting Ltd. is here to help you out. At Budget Accounting Ltd., we get the everyday book-keeping responsibilities out of your hands to allocate you more time to concentrate on building the infrastructure of your business rather than being caught up with all paper works.

Do you have to file a tax return?

You must file a return for 2021 if any of the following situations apply:

  • You have to pay tax for 2021.
  • Canada Revenue Agency has sent you a request to file a return.
  • You and your spouse or common-law partner elected to split pension income for 2021.
  • You received Working Income Tax Benefit (WITB) advance payments in 2021.
  • You disposed of capital property in 2021 (for example, if you sold real estate or shares) or you realized a taxable capital gain (for example, if a mutual fund or trust attributed amounts to you, or you are reporting a capital gains reserve you claimed on your 2021 return).
  • You have to repay any of your Old Age Security or Employment Insurance benefits.
  • You have not repaid all amounts withdrawn from your registered retirement savings plan (RRSP) under the Home Buyers' Plan or the Lifelong Learning Plan.
  • You have to contribute to the Canada Pension Plan (CPP). This can apply if, for 2021, the total of your net self-employment income and pensionable employment income is more than $3,500.
  • You are paying Employment Insurance premiums on self-employment and other eligible earnings.
tax return filing

Individual Income Tax preparation

Are you looking for help with your taxes? Budget Accounting is able to provide a safe, comforting and professional experience for individuals seeking professional income tax preparation. Let our tax professionals assistance you in meeting your income tax preparation needs. So whether you’re new or old at the tax game we have what you’re looking for when it comes to preparing and filing your income tax returns.
Tax Return Filing Deadline for Personal (Individual) Income Tax:
your tax return for the year 2021 has to be filled on or before May 2, 2022.

Small Business Tax Preparation

We understand what it is like to run, operate, and maintain a small business. Let Budget Accounting’s experienced Tax Professionals prepare your income tax return. Our Tax Professionals have the knowledge and knowhow to complete, and file your income tax return. We repeatedly prepare income tax returns.

  • Sole proprietorships
  • Small Business Owners
  • Rental Property Owners
  • Partnerships
  • Self-employed Individuals
  • Commission-only Salespersons

Corporation Income Tax Preparation

We give you the corporation income tax preparation experience you deserve. Let our up to date tax professionals fill you in on all the newest law's and changes concerning corporate income taxes. With our extensive knowledge and understanding we are able to tailor solutions that will satisfy your corporate income tax needs.