Resources

Tax laws are continually evolving. In preparing and filing a tax return whether it is in the USA or Canada, we are governed by the rules and regulations of the Income Tax Act, United States Code and Chartered Professional Accountants Association. One of those rules follow the conducting of due diligence. To facilitate due diligence there are minimum ethical requirements and that is achieved through making reasonable inquires. We therefore require clients to complete our checklist and questionnaires below which may highlight those items that may need specific attention. In certain cases, we are required to complete and file with your return a Due Diligence Checklist.

JKC Tax Checklist

Canadian Tax Forms

JKC Personal Tax Organizer

JKC Personal Tax Organizer (Returning Clients)

JKC Rental Income and expense checklist

JKC Self Employment expense checklist

USA Tax Forms

JKC USA 1040 short questionnaire

JKC USA 1040 individual taxpayer organizer

References

Have you signed up for CRA My Account?

If your answer to this question is no, then this is the first thing you need to do. It will allow you to check on the status of refunds, your outstanding balances, RRSP & TFSA contribution room, and as well keeping the CRA sign-in services up to date on any changes to your personal info. It only takes a few clicks to set up an account!

What documents do I need to file my taxes? When you file your taxes you will need certain forms and supporting documents to complete your return.

You will need to have the following on hand to prepare a tax return:

Social Insurance Numbers for you, your spouse, and any dependents (if applicable)
Dates of birth for family members
Net income amounts for your spouse and any dependents for whom you’re claiming credits such as the Caregiver Credits, and Canada child benefit you may be entitled to.
The total amount of Tax instalments for individuals made to CRA
Notice of assessments from last year’s return
Your Netfile Services access code

Personal Tax References

CRA My Account for Individuals

Income Slips

Depending on the type of income you’re bringing in, below is a list of the different forms you may be required to complete.

Employment

T4 slip: Statement of Remuneration Paid

Self-Employment

T2125, T4002 Self-employed Business, Professional, Commission, Farming, and Fishing Income

T5013 Statement of Partnership Income

Savings and Investments

T5 Statement of Investment Income

T3 Statement of Trust Income Allocations and Designations

T5008 Statement of Securities Transactions

Retirement

T4A Statement of Pension, Retirement, Annuity, and Other Income

T4A(P) Statement of Canada Pension Plan Benefits

T4A(OAS), Statement of Old Age Security

T4RSP Statement of RRSP income

T4RIF Statement of income from a Registered Retirement Income Fund

Social Benefits and Employment Insurance

T4E slip: Statement of Employment Insurance and Other Benefits

Statement of Benefits T5007

Expense Receipts for Credits and Deductions

The CRA offers a variety of credits and deductions to those eligible, which help you reduce your tax owed. Throughout the year, make sure you keep all relevant receipts, bank records, and any other supporting documents as proof of your expenses.

Here are some of the common receipts you should have handy when you start filing your 2023 tax return:

Work-related Expenses

T2200 Employment expenses (signed by your employer)

In-home office expenses

Deduction for Tools

Annual union, professional, or like dues (not included on your T4 slip)

For Families

Childcare expenses

Adoption expenses

Support payments made

For Homeowners and Landlords

Claiming capital cost allowance (CCA)