OK Tax & Accounting

You may have heard of the CRA Strike and questioning how this will affect you.
If your tax preparer E-Files as I do, there shouldn't be much interruption.
If you are Net-Filing or Paper Filing, will be some delays.
However, If you owe, it is still in your best interest to start a payment program to avoid interest-penalty charges.

You can go here for the T185 Electronic Filing of a Pre-authorized Debit Agreement if your E-Filing Tax Preparer failed to include this with your return; https://www.canada.ca/en/revenue-agency/services/about-canada-revenue-agency-cra/pay-authorized-debit.html OR you can set it up as a bill-payment through your online banking using your SIN.

If you have any other tax related questions do not hesitate to call Maria directly 778.559.2485; I am hear to help.

T185 Electronic Filing of a Pre-authorized Debit Agreement - Canada.ca

A good name is far better than a BIG name!

Last Day t Complete Your Taxes is 28 Days From Today!

Since April 30, 2023, falls on a Sunday, your return will be considered filed on time if the Canada Revenue Agency (CRA) receives it, or it is postmarked, on or before May 1, 2023. If you or your spouse or common-law partner are self-employed, you have until June 15, 2023, to file on time.

I have gotten very busy - I only have a few spaces left.
Call Maria Now 778.559.2485 ☺️

🚨 ALERT!🚨 We're getting reports of phishing text messages claiming to be from the CRA which include a real CRA phone number to make it look legitimate. If you get a text asking you to click on a link, it's a scam! For more: https://antifraudcentre-centreantifraude.ca/scams-fraudes/phishing-hameconnage-eng.htm

What is a tax form?

If you need to repay benefits and credits to the CRA from previous years, please note this is not done through your bank. It is done here:

My Payment - Canada.ca My Payment lets you make one or more payments in one simple online transaction. You can use this service if you have access to online banking at a participating financial institution.

🍀

I will file your income tax so you can just sip-back and relax ☺️🍷

$49.99 Single
$74.99 Couple
$89.99 Family
$109.99 Proprietor (with minor accounting)
+GST.
Disabled seniors on assisted income always free.
Call Maria Now 778.559.2485 or email [email protected]

"IMPORTANT NOTICE"
You may receive a call from a CRA clerk asking you to verify the name of the person who did your taxes.
The CRA is doing this to crack down on tax preparers who are Not Authorized by the CRA because they Do Not have their E-File ID.
Should you get a call from a clerk, please be courteous as many of them are being verbally abused.
In the event that someone did your taxes who was not authorized by the CRA - and they used Netfile to do your taxes (not E-File) please report them to the National Leads Centre 1.866.809.6841
Thank you,
Maria

https://www.msn.com/en-ca/money/technology/tax-season-has-begun-in-canada-here-are-the-8-biggest-scams-to-avoid/ar-AA17ROaU?ocid=msedgntp&cvid=5562b03408cb4557f7795bafeae16e10&ei=31

📣 Tax-filing season opens today!

Kickoff the launch with essential information to help you get the benefits and credits you’re entitled to ➡️ http://ow.ly/AoaM50MX8mH

[Image description: A smiling person works on a tablet. The white outline of a diamond frames their head.]

https://www.msn.com/en-ca/money/other/tax-season-2023-changes-for-homeowners-medical-expenses-and-more/ar-AA17DU2j?ocid=msedgntp&cvid=e2426f1845f14ad5865fabb6a937b5f1

Get the rest you deserve & leave your taxes to me ☺️
2023 Rates for processing tax returns are:
Single $50
Couple $75
Family $90
Sole Proprietor $109 (minor accounting)
+GST.
As always, no Charge for disabled seniors..
Full E-Services provided.
Call Maria @ 778.559.2485

https://www.msn.com/en-ca/money/other/the-canada-revenue-agency-announced-major-changes-that-could-affect-your-2022-taxes/ar-AA177cAD?ocid=msedgntp&cvid=ca01680c0b4e42bfb5b22caef680c515

The Canada Revenue Agency Announced Major Changes That Could Affect Your 2022 Taxes COVID-19 benefits, new tax brackets and more!

https://www.msn.com/en-ca/money/other/you-can-claim-up-to-500-on-canada-taxes-for-working-from-home-here-s-how/ar-AA172GkU?ocid=msedgntp&cvid=d9d747ebf72848f38de934c57b0c7e18

You Can Claim Up To $500 On Canada Taxes For Working From Home — Here's How Your pets, and also your wallet, thank you for your service.

Avoiding taxes is "for the birds" all the rest of us humans have to pay!
At OK Tax, we will process your tax return speedily and we will never charge more than the competition!
Full E-Services available ☺️
Call Maria today 778.559.2485

For those who file their taxes on paper, here is the CRA link to the most requested tax forms.

Forms and publications - Canada.ca

Although the earliest date that the Canada Revenue Agency will start accepting e-file tax returns is February 21, we are able to start the process so you are first in line for getting your refund! ☺️

Our rates are way better than our competitors and we offer full e-services, Call Maria today 778.559.2485 - your E-File Specialist!

Documentation Checklist for filing your taxes:

-Social Insurance Numbers for you, your spouse, and any dependents (if applicable)
-Dates of birth for family members
-Net income amounts for your spouse and any dependents for whom you’re claiming credits such as the Canada Caregiver Amount, which is one of many you may be entitled to.
-The total amount of installment payments made to CRA
-Notice of Assessments from last year’s return
-Your NETFILE access code

Other forms include:

-T4 Statement of Remuneration Paid
-Self-employment
-T4002 Self-employed Business, Professional, Commission, Farming, and Fishing Income

-T5013 Statement of Partnership Income
-Savings and Investments
-T5 Statement of Investment Income
-T3 Statement of Trust Income Allocations and Designations
-T5008 Statement of Securities Transactions
Retirement
-T4A Statement of Pension, Retirement, Annuity, and Other Income
-T4A(P) Statement of Canada Pension Plan Benefits
-T4A(OAS) Statement of Old Age Security
-T4RSP Statement of RRSP Income
-T4RIF Statement of income from a Registered Retirement Income Fund
-Social Benefits and Employment Insurance
-T4E Statement of Employment Insurance and Other Benefits
-T5007 Statement of Benefits – Workers Compensation or Social Assistance benefits
-T4A COVID-19 Benefits received (CERB, CRB, CRCB, etc.)

The CRA offers a variety of tax credits and deductions to those eligible. These credits increase your tax refund. Be sure to include all medical receipts. If you paid into a work insurance medical plan, the deduction should be in box 85 on your T4. If box 85 on your T4 is blank, take the total from your last pay stub and your tax preparer will apply that to the medical expense worksheet so you get your tax credit.

Throughout the year, make sure you keep all relevant receipts, bank records, and any other supporting documents as proof of your expenses.

Maria Morton
OK Tax & Accounting
778.559.2485

The 2023 Tax Season is upon us. If you haven't signed up for CRA My Account, it's in your best interest to.
Having a CRA My Account will allow you to check the status of your tax refund, any outstanding balance, your RRSP & TFSA contribution room, as well as keeping the CRA up to date on any changes to your personal info. It only takes a few clicks to set up an account!

Registration process to access the CRA sign-in services - Canada.ca Registration process to access the CRA sign-in services

https://www.msn.com/en-ca/money/other/7-canadian-tax-changes-that-might-affect-you-in-2023/ar-AA15K9tZ?ocid=msedgntp&cvid=50e8bdd35a0b483fb4066bae74239eaf

The changes include an increased tax bracket - meaning you can earn more without being taxed, basic amount increase, OAS threshold increase, CPP earning and contribution increase, as well as RRSP limit increase & CV-19 benefit repayment chances.

Maria Morton
OK Tax & Accounting
Your Local Tax Specialist

7 Canadian Tax Changes That Might Affect You in 2023 New federal tax brackets, a higher Basic Personal Amount and COVID benefit repayment are among this year's important tax changes. Hannah Logan writes for NerdWallet. Email: [email protected] The post 7 Canadian Tax Changes That Might Affect You in 2023 appeared first on NerdWallet Canada.

The CRA is accepting Applications Starting Monday December 12 for the Canada Housing Benefit for low income individuals.

https://oktaxandaccounting.blogspot.com/2022/07/11-ways-to-promote-financial-growth.html

https://oktaxandaccounting.blogspot.com/2022/05/highlights-from-2022-federal-budget.html

Highlights from the 2022 Federal Budget Highlights from the 2022 Federal Budget: Home buyers amount and home accessibility New tax-free first home savings account (FHSA) New multi...

This article is important to Ian & myself (Maria).
We were burned pretty bad by an H&R Block Associate who promised us better (cheaper) service & better returns from his own business.

Little did we know all he did was impersonate us and use Turbo Tax's FREE service. This is identity theft!
We thought it best to get to know the and industry so we could serve people ethically.

As a tax , I take my CRA credibility and professionalism seriously. Moreover, I pay a great deal each year for CRA Registered and Licensed software.

If you are a tax payer whether, in or not, this article is a must-read!

Red Flags Your Tax Professional Is A Fraud: https://oktaxandaccounting.blogspot.com/2022/08/red-flags-your-tax-professional-is-fraud.html

Red Flags Your Tax Professional Is A Fraud Ian & I were prompted to take the tax accounting course after we had an encounter with a sketchy tax preparer. I withhold his name, but h...

Last-chance for filing your taxes tomorrow. I have 1 spot left. Call Maria now 778.559.2485; Full e-service available!