Tips & Checklists to Help You Prepare for the 2022 Tax Season
Tax season is quickly approaching, and our team of tax experts at Runolfson Kehoe & Haché (RKH) is prepared. This is a busy time of year and our office will be dealing with a high volume of files. In this post, we have included valuable information to help you gather and consolidate your annual receipts for submission to our office (please don’t forget to review the checklists included as well).
Deadline to submit Personal Tax Documents:
Please submit all your tax documents before April 8th to make sure the return is filed by the deadline (April 30th). By doing so, you also get a chance to win a 200$ RKH gift certificate!
Any client who sends in their tax documents and the completed checklist(s) before 5:00 PM on April 8th will be eligible for a draw for a $200 Runolfson Kehoe & Haché gift certificate (awarded in next year's personal tax return invoice). Congratulations to this year's winner Clair Mills.
Checklists To Complete:
For your convenience, please use the following checklists to help organize your tax return.
You may click the link to access each checklist.
How To Submit Your Documents To Our Office:
To expedite our process, we encourage you to submit your documents as a pdf file. If you have pictures of your document and would like to convert them to pdfs, please refer to this file: How to convert pictures to PDF.
Document delivery:
By email - feel free to email your documents to noah@rkhcpa.ca
Online - If you prefer to submit your tax documents securely through our client portal, please email noah@rkhcpa.ca and he will add you to the portal. If you already have access to the portal, please click the link below to log in and upload your documents.
Signing and receiving your completed tax documents:
This year we are excited to announce that we will be sending completed tax returns, invoices, and forms to sign securely through the Client Track Portal. We believe that this will result in greater efficiency. When we complete your tax return and send you and your family documents to sign and your completed tax return(s) you will receive two emails:
One from us, listing documents we are sending you through the secure Portal and giving you the password to access the secure documents.
One from Client Track Portal, inviting you to easily and quickly electronically sign your tax forms and download your tax return(s) and our invoice.
Note that this update means that the documents you receive will no longer be password protected, as we will be password protecting the Secure Email instead.
If you have any questions or feedback on this new system don’t hesitate to contact Noah at noah@rkhcpa.ca, and he will be happy to answer all your questions.
Throughout the months of the Tax Season, our staff will be available by phone at (613) 224-2121 to go over any general questions you may have about your tax return. If you require a more in-depth meeting (virtual) to go over your personal taxes, we encourage you to contact us ahead of time to schedule a meeting.
Remember, missing slips and disorganized files can cause unnecessary delays and add costs for you. During the month of April, if documents or information requested by us are not received by the requested date, it could result in not having your return completed and filed by the April 30th deadline.
Should you receive any additional information or tax slips after we have already filed your return, please contact us to process a T1 Adjustment Request, which will be done and billed separately later in May.
Key Money-Saving Tips:
1. Investments
Request a detailed year-end summary from your financial advisor (including management fees paid and gain/loss report)
Provide adjusted cost base (ACB) of shares sold in the year
Foreign property & investments require a separate summary to complete the T1135 form (ask your financial advisor – please refer to the Foreign Property & Investments Checklist)
2. Medical Receipts
Neatly organized medical expenses can save both of us a lot of time, and improves accuracy.
Please have your medical receipts sorted by date and type of service for each family member. How can you help with this?
Request a prescription summary for the year, from your pharmacy (or pharmacies), for each family member.
Generate and print your own claim history summary for processed claims for the year (service date: January 1st – December 31st), for each family member. Most major insurance providers now offer a convenient and fast summary printout. Please contact your insurance provider for details.
Include insurance premiums paid by you and not reimbursed by your employer.
If summaries are not provided, we will have to enter each individual item, which may lead to significant increases in billable time associated with your file.
We Look Forward To Working With You!
Please note that when we send out your documents for signature, we will be asking you to take a few minutes to verify your personal information. It is imperative we have the correct information when filing your tax return.
For any questions or concerns please do not hesitate to contact us by phone or email.
