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In preparing to visit the tax accountant, Mississauga business owners may find themselves wondering what they are forgetting, and scrambling to pull it all together. Be sure to schedule your appointment well in advance of your deadline, so you can get an appointment time that best suits you, and so you have ample time to get any additional documentation needed to your accountant. You should ask your accountant when you make the appointment for a complete list of what to bring for your specific type of filing.

Some Things To Bring Your Tax Accountant

• Company Documentation – Include copies of your company’s by-laws, incorporation documents, a list of the company’s owners or primary shareholders, and your CRA Business Numbers (BN).

• Tax Documentation – Bring your year-end T-4 and T-5 summary and supplements, GST remittance and returns, and any provincial/territorial tax documents that may also be required. Bring a copy of last year’s completed filing.

• Financials – The simplest way to get your tax accountant the financial records s/he needs is to create a temporary login for your internal accounting system. If that access is not feasible, ask in advance what specific financial documents are required for your filing, and whether the accountant can accept digital versions on portable media. In general, you need to provide your year-end income and expenses, balance sheet, and checking and saving account summaries. You may also need to provide information on investment account balances and dividends, and stock information, if these apply.

• Good Organization – The better organized your records are, the faster your tax return will be prepared. If your records are completely disorganized, you will likely end up paying for someone at your accountant’s firm to organize them before the accountant can work on them.

Get Help Preparing This Year’s Taxes And Planning Ahead

Numbers Plus provides accounting services, tax preparation, and business advisory services like tax planning for individuals, small businesses, and large corporations. Our Chartered Professional Accountants help clients plan ahead to reduce their future tax liability, and use their continually updated knowledge of the tax code to ensure that each client gets the full benefit of any available tax savings. Call us at 289-290-3322 or fill out our contact form today to learn how Numbers Plus can help with your tax situation.

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