Your law practice is a business just like any other. You have revenue, expenses, taxes, and much more. Managing your small law firm’s finances can seem like a huge task in the fast-paced, demanding world of law. It's best to work with a Professional Accounting Firm in Toronto that has deep experience in trust accounts and experience working with PC Law software.
Whatever your size or area of practice, Filing Taxes constantly strives to provide solutions suited to help your firm thrive and succeed using PC Law Accounting Services. Hiring our PC Law accounting services in Toronto you’ll streamlining your firm’s financial management, freeing up your time to focus on what truly matters- practicing law. Your journey toward optimal financial management starts here.
Our Range Of Personal Tax Return Services
No matter how simple or complex your tax situation is, we are ready to handle it! We know that many business and personal taxes are intertwined, and our personal tax services in Toronto and Mississauga offer the integration of both services to help further drive efficiencies. Our comprehensive range of services includes:
Who Must File A Personal Income Tax Return(T1) In Canada?
Your tax filing requirements usually depend on three things: your filing status; your gross income; your age.
Even if you have no income, you should still file your taxes before you turn 19. You may be able to access tax credits and benefits, like sales tax credits or childcare support.
The deadline to file personal income taxes is April 30 and even though self-employed Canadians don’t need to file until June 15, if you owe the Canadian Revenue Agency (CRA, formerly known as Revenue Canada) any money, it must be paid no later than April 30 to avoid any penalties.
We Help You Get All Your Eligible Tax Deductions
A tax deduction, sometimes called a tax write-off, is any legitimate expense that can be subtracted from your taxable income.
Tax deductions are a way to reduce your taxable income and, consequently, your tax bill. You must meet the eligibility criteria to claim a tax deduction.
Lowering your taxable income reduces the amount of tax you have to pay. Generally, multiple deductions can lower your income and put you in a lower tax bracket. In Canada, both federal and provincial deductions can help reduce your tax liability.
As your personal tax accountant in Toronto, Filing Taxes will also identify deductions to be included in your personal tax return to minimize your tax liability.
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