Personal Tax Returns
T1 personal tax return preparation for Calgary individuals and families, covering employment, self-employment, investment and rental income.
Most Alberta residents file a T1 return each year, either because tax is owing or to receive benefits and credits such as the GST/HST credit. The Alberta provincial tax is calculated on the same return, so one filing covers both. For many people the return is simple. For others it brings together several sources of income, each with its own slips, schedules and records, and that is where careful preparation makes a difference.
We prepare returns that include employment income from T4 slips, self-employment income reported on Form T2125, investment income from T5 and T3 slips and capital gains on Schedule 3, and rental income reported on Form T776. We review RRSP contributions against your deduction limit, check how TFSA and FHSA activity should be treated, and look for the credits and deductions that commonly apply, such as medical expenses, charitable donations, tuition and child care expenses. Family returns are prepared together so that credits can be claimed on the return where they are most useful.
Deadlines matter. For most individuals the return and any balance owing are due on April 30. If you or your spouse or common-law partner report self-employment income, the filing deadline moves to June 15, but any balance owing is still due on April 30, and interest runs from that date. We file electronically and keep you informed of anything the CRA asks for after the return is assessed.
What's Included
- T1 personal tax return preparation and electronic filing, including the Alberta calculation
- Employment, self-employment, investment and rental income reporting
- RRSP deduction review and TFSA and FHSA treatment
- Review of common credits and deductions for you and your family
- Follow-up on CRA notices of assessment and requests for information
FAQ
What should I bring for my personal tax return?
Bring your slips (T4, T5, T3, T4A and any others you receive), RRSP contribution receipts, receipts for medical expenses, donations, tuition and child care, and records of any rental or self-employment income and expenses. Your previous year's notice of assessment is also helpful.
I am self-employed. Is this the right service?
Self-employment income is reported on your personal return, so yes, but the business part of the return needs its own work. See Self-Employed Tax Returns for what is involved in preparing the T2125 business statement.
Can you file returns for previous years I missed?
Yes. Late returns can be prepared and filed for previous years. If a balance is owing, late-filing penalties and interest may apply, so it is usually better to file as soon as the records are available.
Need help with Personal Tax Returns?
Tell A4SB about your accounting needs and we can discuss the support that may be relevant to your situation.