Tax Services

Tax Services

Providing your business with solid tax advice and reliable corporate and personal tax services.

Dealing with taxation can be one of the most complicated parts of being an entrepreneur. At White Rose Accounting, we understand that tax issues do not exist in a vacuum outside your other business concerns. Taxes can have a huge impact on both your daily operations and long-term growth strategies. When we provide you with tax services, we do so through the broader context of business advisory—to show how taxes fit into the bigger picture for your company.

Income Tax preparation services:

• Personal Income Tax preparation and filing
• Corporate Income Tax preparation and filing

Income Tax Preparation in Vancouver Area

Why choose our services for your income tax return ?

1. White Rose Accounting can connect with CRA (Canada Revenue Agency) for Personal & Corporate Income Tax Preparation and EFILE On-Line Program
2. You are dealing with a registered company and professional individual
3. My intention is to save your money & your time, and give you the best experience for this dreadful task of filing taxes
4. Free advice
5. If you are behind with filing you taxes, we can file them now and take advantage of all available programs. If you've noticed an error on previously filed taxes, we can help you to amend them. We can request a change to your tax return for a tax year ending in any of the 10 (ten) previous calendar years.
6. Your information is securely stored and protected

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Income Tax Information Checklist

Copy of previous year T1 tax return (if available) - for continuity purpose

Any correspondence you have received from CRA, or from the provincial tax authorities, like Notice of Assessment from previous year

Any of the following varieties of income slips, like: T3, T4, T4A, T5, T5008, T5018, OAS

Supporting documentation, specifically: sale of stocks, bonds, real estate or any other assets

Supporting documentation for deductions:

• Adoption costs
• Automobile expenses ( with Logbooks)
• Carrying charges and interest expenses
• Charitable donations
• Child care expenses
• Children's fitness programs
• Children's art program
• Interest paid on student loans
• Medical expenses (no over the counter medication receipts)
• Moving expenses (if applicable)
• In-home office expenses (qualify only if more than 50% of work performed from home office)
• Professional fees (legal, accounting etc)
• Political contributions
• RRSP contributions
• Union dues
• Support for a child, spouse or common-law partner
• Tool expenses - tradesperson (keep receipts)
• Tuition / Education amounts for qualifying students - Form T2202
• Monthly transit passes (keep receipts)
• Travel expenses

Other supporting documentation

• Capital gains / losses records
• Rental income & expenses records
• Business income & expenses records
• Disability Tax Credit Certificate - form T2201
• Universal Child Care Benefit confirmation

Important facts

1. Plan ahead – Register for My Account and sign up for direct deposit, so you'll be ready when you file your income tax and benefit return. You can use My Account to view your tax slip information, your registered retirement savings plan (RRSP) deduction limit, your tax-free savings account (TFSA) contributions, pay with pre-authorized debit, track your return and refund once it's filed, and more.

2. TFSA – Using a TFSA is a great way to save money. Generally, interest, dividends, and capital gains earned on investments in a TFSA are not taxable either while held in the account or when withdrawn.

3. Registered retirement savings plan (RRSP) – You can save on your taxes and save for your retirement at the same time. Contributions to your RRSP are tax-deductible, and any income that you earn in your RRSP accumulates tax-free as long as the funds stay in the plan.

4. Charitable donations – Donations of cash, goods, land, or listed securities made to a registered charity or other qualified donee may be eligible for a charitable tax credit. Also, take advantage of the first-time donor's super credit on donations of money to a maximum of $1,000 made after March 20, 2013, if you are considered a first-time donor.

5. Families – There are many ways families can save at tax time. The activities you signed your kids up for may save you money on your taxes---save those receipts! If you care for dependants with a physical or mental impairment, you may be able to claim an additional amount when calculating certain non-refundable tax credits related to the family caregiver amount.

6. Students – Were you a student during last tax year? You may be able to claim tuition, textbook, and education amounts, public transit passes, as well as the interest you paid on your student loan.

7. Seniors – If you receive a pension, you may be able to elect to allocate up to 50% of your eligible pension income with your spouse or common-law partner to reduce the taxes that you pay. You may also be eligible to claim the age amount, medical expenses, and the disability tax credit. If you are a dependent and being cared for by a caregiver, they may be able to claim the family caregiver amount.

8. Home buyers – You may be able to claim an amount of $5,000 for the purchase of a qualifying home if you are a first-time home buyer.

9. Representatives – If you manage a friend or family member's tax affairs or if you wish to have someone manage your tax affairs on your behalf, Represent a Client is a secure service that allows the representative to check the status of tax returns and refunds, make changes to tax returns, request remittance vouchers, view RRSP and TFSA information, and more.