FAQ

To file your personal tax return in Ontario, you’ll need documents like T4 slips, receipts, and your SIN. You can file online using certified software or work with a personal tax accountant for help with your income tax preparation.

To file business taxes, you’ll need financial statements, payroll records, HST returns, and your business number. Whether you file as a sole proprietor or corporation, it's smart to use business tax preparation services.

If you’re self-employed, your personal and business income are filed on the same return. For corporations, business and personal tax returns are separate. Always consult a CPA to avoid mixing obligations.

The CRA typically opens e-filing in late February. You can prepare early, but filing officially begins once tax season starts. Ask your accountant for the exact 2025 date.

A tax accountant or CPA can help you file taxes accurately and on time. Many offer tax preparation services for individuals, businesses, and corporations, including consultations and free filing estimates.

You’ll need T4s, T5s, expense receipts, RRSP slips, and previous tax returns. Corporate filers need payroll summaries, income statements, and balance sheets. A tax filing checklist helps avoid mistakes.

In 2025, most individuals must file taxes if they earn more than $15,000. But even lower incomes should file to receive tax credits or refunds. Your CPA can help determine your filing requirement.

Corporate tax returns (T2) are filed separately from personal tax returns and include balance sheets, income statements, and expense tracking. A corporate tax accountant can prepare and submit it for you.

If your return is simple, you can use tax software. But for self-employed, corporate, or multi-income situations, working with a tax accountant helps maximize deductions and avoid errors.

A tax return reports your income and tax obligations to the CRA. Filing ensures you pay what you owe or claim refunds and benefits you’re entitled to — including GST/HST credits and child benefits.

Costs vary: personal returns range from $60–$200, while corporate filings can range from $300 to over $1,000. Complex returns, payroll tax services, and consultations may affect pricing.

Yes! Many firms offer virtual tax return filing help with secure document upload, video calls, and electronic signatures. ARSC CPA offers remote services for individuals and businesses across Ontario.

Tax preparation is gathering and organizing your tax documents. Filing is the act of submitting your return. Most tax accountants offer both as part of their services.

You’ll need to create a CRA My Account, gather your T4s and receipts, and use certified software or a tax professional. Filing for the first time can feel complex — help is available!

For most individuals, the tax deadline is April 30, 2025. If you're self-employed, you have until June 15, but any balance owing is still due by April 30.

Payroll tax services include calculating employee deductions, preparing ROEs, and filing T4 summaries. They ensure your company stays compliant with tax law while managing staff payments.

Bring income slips (T4s, T5s), expense receipts, RRSP contributions, property tax bills, and prior returns. For business clients, include payroll summaries and bank statements.

Yes — even low-income earners may qualify for GST/HST credits or refundable tax benefits. Filing ensures you don’t miss out.

Claim eligible deductions like RRSP contributions, medical expenses, tuition credits, and home office costs. A tax accountant can help you uncover what applies.

Bookkeeping tracks your income and expenses — essential for clean tax filing. Good bookkeeping helps you avoid missed deductions and CRA penalties.

The best way is with a professional. Corporate filings require specific forms and calculations. CPAs also help with corporate tax planning, payroll, and CRA compliance.

If you earned income, paid taxes, or want to claim credits/refunds, you likely need to file. CRA also requires returns to access benefits like the CCB.

These services typically include tax preparation, tax filing, bookkeeping, payroll processing, CRA representation, and financial consultation — all in one place.

You must report all T4s and income. Failing to include each source can result in penalties. A tax accountant can help you consolidate all income properly.

You may be charged interest and penalties. Filing late can also delay your refund and benefits. File on time or ask your accountant about CRA payment arrangements.

Yes — even if your income is low or you owe nothing, filing helps you qualify for government benefits and keep your tax history clean.

If you're a sole proprietor, yes. If you run a corporation, no — they are separate filings. Knowing the difference avoids CRA issues.

Corporate tax accountants help you stay compliant, reduce tax liability, and access strategic benefits like small business deductions and corporate tax breaks.

You can access past returns through your CRA My Account. If filed with a tax professional, request a copy directly from your accountant.

Yes — many accounting firms, including ARSC CPA, offer bundled bookkeeping and payroll services for small businesses and corporations.

A holding company in Canada owns shares in other businesses. It may offer tax advantages, like income splitting and capital gains deferral. Ask about real estate holding companies.

Any time your taxes get complex — multiple incomes, business ownership, real estate, or audits — it’s wise to bring in an expert.

Log into your CRA My Account or use the CRA’s “Where’s My Refund?” tool. Your accountant can also check the filing status.

Deductions include vehicle expenses, office supplies, software subscriptions, advertising, and professional services. A CPA helps track and file them accurately.

Gather income slips, expense summaries, previous returns, and business financials (if applicable). Write down any tax questions you have.

Yes — employers must deduct income tax, CPP, and EI from employee pay and remit them to the CRA. A payroll tax accountant helps with this process.

Yes — through a T1 Adjustment (for individuals) or amended T2 return (for corporations). Speak to your accountant before submitting corrections.

We provide personal and corporate tax return preparation, payroll services, bookkeeping, CRA audit support, and business consulting in Ontario and beyond.

Look for credentials (CPA), client reviews, specialization (personal, corporate, payroll), and whether they offer free consultations.

Ask about deductions, filing deadlines, business structuring, audit protection, and how to get the most out of your tax return.