If you are looking for a personal tax accountant in Hamilton, look no further than NBG Chartered Professional Accountant. We can assist you in navigating the complex personal tax system and ensure that your tax return is filed correctly and on time while maximizing the deductions and credits you are entitled to. At NBG Chartered Professional Accountant, we specialize in personal tax preparation and planning.
For many individuals, it might be more difficult to handle their personal tax returns than it appears, especially if you're dealing with issues like incorrect reporting, retirement planning, or an audit. For many people, this may be a time-consuming exercise that takes up more time than it should. That's why we're here to help. We're a team of experienced and qualified tax accountants dedicated to providing our clients with the best possible service.
Whether you are an individual or a small business owner, our personal tax accountants have extensive experience to handle a variety of complex tax situations. Because we understand that everyone’s personal tax situation is different, we offer a personal and tailored approach to all our clients. Furthermore, we work with you to ensure that your personal tax affairs are in order and that you meet your obligations. We'll also provide you with advice and guidance on how to optimize your tax situation.
Our personal tax services include:
We have many years of experience in filing personal for many individuals. We prepare the following returns:
There are many factors to consider when it comes to individual tax planning. Your specific circumstances will determine which strategies are right for you. Working with a qualified tax professional can help you navigate the individual tax planning process and make sure you're taking advantage of all the opportunities available to you. We provide individual tax planning in the following areas:
Get in touch today to learn more
If you are selected for a CRA audit, we can help. We have a team of tax professionals who are experienced in dealing with CRA audits. We will work with you to understand your specific situation and needs and will develop a customized plan to resolve your dispute.
In addition to the above, our experienced tax accountants can provide expert guidance on a variety of other personal tax topics. If you have a question that is not listed above, contact us today so we can help.
Filing your taxes can be complex and confusing, but ensuring you get it right is important. That's where we come in. We pride ourselves in helping individuals file their annual personal income tax returns as efficiently as possible.
We have the knowledge and experience to help you maximize your tax return and minimize your tax liability. Most importantly, we understand that every individual has unique needs, which is why we take the time to learn about you and your financial objectives. We aid and tailor our services in order to best fit your needs.
Let us make the process of filing your taxes as easy and stress-free as possible for you – contact us to schedule a consultation!
There is no general answer to this question since everyone's personal tax situation is different. However, if you are self-employed or have rental income, for example, it may be beneficial to hire an accountant to ensure that your taxes are filed correctly. Working with an accountant not only provides assurance of accuracy, but it also saves time and aids in tax planning and optimization.
There are other types of income that may be taxable, depending on your circumstances. It is important to keep track of all your income sources so that you can be sure to declare them all on your tax return. If you are unsure of which types of income is taxable, it's always best to speak to a qualified tax accountant to ensure you meet your obligations.
There are a number of common deductions that can taken on your personal tax return. Tax deductions are amounts you can subtract directly from your income before calculating tax, thereby making your taxable income lower. There are not as many deductions for individuals earning employment income, in comparison to individuals who carry on a business.
However, some common deductions include:
While tax deductions and tax credits both help improve your tax outcome, they are actually different and not interchangeable. Tax credits work differently from deductions in that they are subtracted from the amount of tax you owe, as opposed to your income before taxes. In addition, most tax credits are non-refundable, which means they can only reduce the amount of tax you owe and not result in a refund.
The most common credits that everyone can claim is a federal basic personal tax credit, which allows you to subtract an amount set by the government every year. Other common tax credits include:
The above represents only the most common tax credits. The government of Canada offers Individuals a variety of federal tax credits on their personal tax returns, depending on their personal situations. In addition, different provincial credits could be available to individuals based on their province of residence. To ensure that you are getting all the tax credits that you are entitled to, it is important to consult with a qualified tax professional.
If you have any amounts owing in taxes for a tax year, they will have to be paid by April 30th of the following year. For example, if you have taxes owing for 2021, the amount owing needs to be paid by April 30, 2022.
For most individuals, the filing deadline is April 30th of the following year. If the individual or the individual’s spouse carried on a self-employment business, the filing deadline is extended to June 15 of the following year. However, any amounts owing must still be paid by April 30th.