Important Income tax dates in 2024
January 1, 2024
Tax-Free Savings Accounts (TFSA): New contribution room is available. The TFSA contribution limit for 2024 is $7,000.00 CAD, not including unused contribution room carried forward from previous years.
January 24, 2024
RRSP contribution receipts for contributions made in 2023
January 30, 2024
T4A / Relevé 1 produced for RESPs
February 8, 2024
T4RSP / T4RIF / Relevé 2 produced for RRSPs and RRIFs
T5 / Relevé 3 produced for non-registered GICs and savings accounts
February 17, 2024
T4A / Relevé 1 produced for RDSPs
February 23, 2024
T5008 / Relevé 18 produced for investment accounts
T4A / Relevé 1 produced for DPSPs
T5 / Relevé 3 produced for investment accounts (both group and third-party funds)
T5 / Relevé 3 produced for investment accounts
T3 / Relevé 16 produced for investment accounts (both group and individual)
March 1, 2024
RRSP contribution deadline: Final day to make contributions for the 2023 tax year
March 15, 2024
RRSP contribution receipts for contributions made in the first 60 days of 2024
April 30, 2024
Tax payment due date: Pay 2022 taxes owing to the Canada Revenue Agency by this date
Tax payment due date: Pay 2022 taxes owing to Revenu Québec by this date
Filing due date for 2022 individual income taxes if you are an employee
June 15, 2024
Filing due date for 2022 individual income taxes if you are self-employed
Personal Tax
CA specializes in tax filings for personal and self-employed professionals and small corporations. Whether you are an independent contractor, sales professional, or small business owner, your returns can get very complicated with what deductions to make, how to properly prepare your forms, etc. CA can help with all of it.
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Personal Tax Returns for Individuals, Self-employed, Commissioned salespersons and Business partnerships.
We serve a variety of individuals from self-employed, commissioned salespeople, professionals, real estate agents, and sole business proprietors. We also look after preparing your statement of rental income, calculate capital gains/losses on your investment portfolio, and prepare allowable business investment losses (ABILs) calculations.
We pride ourselves on our diverse customer base and have designed our personal tax services to ensure that the needs of each of our clients are met. We offer convenient, accurate, and affordable preparation of all types of tax returns. And we provide you with 12 months of tax support with every return we do you for.
At CA you can be assured that you will be given friendly, helpful assistance with all your tax needs. Our services are confidential, affordable, and in compliance with accounting industry standards.
Let Us Prepare Your Taxes For You!
Corporate Tax
CA specializes in tax filings for personal and self-employed professionals and small corporations. Whether you are an independent contractor, sales professional, or small business owner, your returns can get very complicated with what deductions to make, how to properly prepare your forms, etc. CA can help with all of it.
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Personal Tax Returns for Individuals, Self-employed, Commissioned salespersons and Business partnerships.
We serve a variety of individuals from self-employed, commissioned salespeople, professionals, real estate agents, and sole business proprietors. We also look after preparing your statement of rental income, calculate capital gains/losses on your investment portfolio, and prepare allowable business investment losses (ABILs) calculations.
We pride ourselves on our diverse customer base and have designed our personal tax services to ensure that the needs of each of our clients are met. We offer convenient, accurate, and affordable preparation of all types of tax returns. And we provide you with 12 months of tax support with every return we do you for.
At CA you can be assured that you will be given friendly, helpful assistance with all your tax needs. Our services are confidential, affordable, and in compliance with accounting industry standards.
Let Us Prepare Your Taxes For You!
Tax Planning
At CA, our focus is always on tax planning and consulting with the objective of developing tax reduction and deferral strategies. Our objective is finding solutions and not just identifying problems!
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Individual Tax Planning
Individual tax planning means more than preparing your annual personal income tax returns. We take a proactive approach to helping you minimize your income taxes now and in the future. For our owner-managed small business clients, we integrate corporate and individual tax planning strategies to maximize your profits.
Corporate Tax Planning
Innovative and effective corporate tax solutions are the key to your business’ success and growth. We investigate various aspects of your company to identify tax planning opportunities. We can also help you to prepare shareholder agreements so the impact of issues common to multi-shareholder businesses is minimized.
Non-Resident Planning
The non-resident arena may consist of pitfalls and traps for the unwary. We can assist in minimizing your tax exposure surrounding immigration/emigration. We also provide filing of U.S. returns for U.S. citizen/green card holders as well as filings for Canadians selling U.S. real estate/rental properties. For businesses related matters, we can assist in structuring cross-border transactions as well as business structures to maximize repatriation of profits to Canada.
Our tax planning goals include:
- minimizing your tax bill
- advice on CRA reviews or audits
- assistance with handling disputes with CRA
- filing a Notice of Objection
- transferring or selling shares in your corporation
- applications under the Voluntary Disclosure Program
- decisions about whether to incorporate your business
- advice on paying yourself salary vs. dividends
- setting up a Family Trust or Holding corporation
- advice on maximizing your shareholder loan
Payroll
If you have a big company, there are a lot of people to be paid. And it can get complicated! CA’s payroll service ensures that all of your employees receive the proper pay accorded to them with all necessary payment deductions made. In addition, CA prepares and provides government remittance (PD7As), records of employment forms (ROE), and year-end T4, T4A, and T4 summary forms.What can we say… CA can do it all!
Forms & Resources
Fast & easy filing: Get your taxes done quickly and efficiently.
Maximize your refund: Claim all deductions and credits you deserve.
Expert advice: Get help from tax professionals for peace of mind.
Avoid penalties: Stay compliant and avoid costly mistakes.
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Stress-free taxes: We handle the paperwork, so you can relax.
Accurate & secure: We protect your information and ensure your taxes are done right.
Get started today: File your taxes online or in person.
Affordable rates: Get the best value for your money.
Personalized service: We work with you to meet your specific needs.
Peace of mind: Know your taxes are done right, guaranteed.
Bonus:
CA Tax Prep Checklist Corp
Tax planning for next year: Let us help you save money for the future.
File your taxes from anywhere: Convenient online filing options.
Get your refund fast: Direct deposit available.
Free consultation: Get personalized tax advice before you file.
ABout Us
Payments, taxes, financial reports…it’s all so much to handle. If you are an entrepreneur, you want to keep ahead of your financial responsibilities while maintaining the professional quality of your business.
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But don’t worry… Common Accounting can help!
Common Accounting (CA) was designed with small business needs in mind. Our dedicated staff can assist you in whatever accounting matters you may have, from tax preparation, financial reporting, payroll advice, and small business consultation. Our systems are fully digitized and equipped with a high security double backup server which can keep your records on file for an infinite amount of time.
With a fully integrated modern accounting service and team, Common Accounting helps you with all of your accounting needs. We understand that you need someone to take away the burdens of today’s financial concerns in order to keep realizing the maximum success. This is where we can help you and we are only too happy to do so!
At Common Accounting it’s our job to make your life simple!
Let Us Prepare Your Taxes For You!
CONTACT US
Common Accounting is ready to take on any new clients who require assistance with their individual accounting or small business financial needs. Whether taxes are causing you trouble or if you just want to see what accounting options exist for you and your business, Common Accounting is ready to start working for you!
Common Accounting Head Office
Address: 6979 Yonge Street Unit 200A, Toronto, ON M2N 3X9
TEL: + 416.840.3799
FAX: + 416.273.0190
EMAIL: info at commonaccounting.ca
Website: https://commonaccounting.ca
Feel Free To Contact Us Through Form Below:
FAQ
1. I already have an accountant. Can CA still help me?
Sure. And we would love to. Don’t forget we can help you with many other services, such as tax consultation and forecasting your financial future.
2. How “confidential” is my personal info kept?
Under lock and key. CA knows how important it is to keep your personal information secure. Only your CA professional has access to your files and shares them directly with you and no one else.
3. What kind of prices can I expect from CA?
Please refer to our rates page. Our rates are very competitive and should you find better rates, CA would be happy to match them.
4. Can I cancel my service at any time?
You are under no obligation to CA and we will simply invoice you for your fee(s) up to that point.
5. Will you keep my bank statements up-to-date?
Absolutely. We provide regular statements and reconciliations for your business promptly.
6. Will I receive my government tax statements from you as well?
Again, absolutely. CA ensures that you get all relevant and necessary documentation for your records, both from us and the government.
7. Can I do my business with you online?
Yes. We know you are busy and that meeting face-to-face can often be hard to schedule. Thanks to the Internet, doing business remotely is no problem. You can also call us or schedule a teleconference for bigger projects.
At Common Accounting we are available to answer any of these questions or more for you directly. Please contact us with any concerns you might have.
Rates
At Common Accounting (CA), we understand your need for value. Your business depends on it. CA provides its clients with the best accounting service at the best rates available. It’s our job to provide both good service and great value to you.
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Our Packages
CA offers its clients both basic rate and flat rate service packages depending on what your needs are for our accounting services. After a period of continued service with CA, we can offer a flat monthly rate. This allows us to assess your accounting needs over an extended period while providing you with even more value for your company.
CA offers a comprehensive breakdown of its service rates to its clients. Our pros can sit down with you and show you what accounting services are needed for your business as well as what ways you can save on your rates with us. Our fees are compatible with your budget and we can offer special discounts to you.
For more information on our rates and services, please contact us directly to speak to one of our CA professionals. We can find the plan that works best for you. Always.