Did you know? If you’re incorporated you have six months to file following the end of your fiscal year.
Have questions? Give us a call at 905-571-2665.
While traditionally all tax owing must be paid by April 30th, if you’re self-employed you and your spouse (married or common-law) have until June 15th every year to file your tax returns. As long as your return is filed by this date, you will never be charged the late filing penalty of 5%.
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Whether you run your own business or only speak to Shaelene about your personal taxes, consider setting yourself up with Quickbooks Online and Receipt Bank. Quickbooks is simple, easy, online bookkeeping. Receipt Bank allows you to take pictures of all your receipts and invoices so you can upload them to the cloud where we can instantly see them in real time. While it does cost a monthly subscription fee, you can write it off as an accounting fee; these are reasonable accounting fees that you pay so that you can prepare and file your income tax. It helps your accountants tremendously when all of your data is organized in a simple web interface.