Personal Tax Preparation Services in Calgary
Bohorquez Professional Corporation provides expert personal tax preparation services in Calgary to spare you from the complexities of legal processes and calculations. We navigate the complexities of changing laws and regulations after you provide us with all the details and documents needed to file tax returns.
Our clients rely on us every year to file their tax returns conveniently, accurately, and effectively. We are excited to introduce you to personalized tax preparation services delivered by passionate people driven to guard your finances. Contact us today to hire us or learn more about personal tax preparation services in Calgary. Additionally, we can provide you with business tax planning and preparation services at your convenience.
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Contact us to hire our tax preparation services or to learn more about our commercial services.
About Our Tax Service
At Bohorquez Professional Corporation, we aim to provide excellent service to our customers. We work hard to ensure their tax and accounting needs are met with the high standards a Chartered professional accountant can provide. We share our customer’s goal of minimizing their tax liability and maximizing tax returns, and our main focus is offering a complete package of accurate tax and accounting services.
We have well-experienced and qualified staff providing quality services to handle simple or complex tax situations. Our tax preparation services include the following:
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Personal income tax preparation
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Online filing of tax returns
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Support and advice on CRA pre-assessment and reassessment of personal tax returns
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Personal tax return adjustment preparation and filing
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Prior year tax preparation from 1990 – 2012
Checklist of Personal Information and Documents Needed to File Personal Tax:
The checklist for filing personal tax includes the following:
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Personal information:
Before providing the documents we need for your tax preparation, we will need personal information as some life changes will impact your income taxes, specifically during the filing period. Please contact us at (Phone number, Customer Service email) to request an information form with all the details we will require.
The checklist of documents:
When filing your tax returns annually, you must keep a folder for your tax preparer to put all the slips and receipts. To help you avoid any stress at the last moment, it’s important to double-check all the documents you may need to prepare your tax return.
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The checklist below provides examples of relevant information:
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Sign up for your CRA My Account: to make changes like address, if any, and for Notices of Assessment (NOA), we might require.
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You must hand over employment and other Income slips (T4s, T4As, T5s, T3s, T5008, T4AOAS, T4P…)
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All the receipts about RRSP, medical, childcare, education, donations, rent…
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Health plan annual report of the claims to claim what wasn't paid back in case it's an allowable expense.
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If you have received specialist treatment abroad, you can claim the costs if you have all the documents showing the dates, distance, and receipts.
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Business or rental income and expense documents
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Property tax, mortgage, or disability certificates of self or dependent family members
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Student tuition, education loans, and interest documents
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Remember that before reaching out to a tax preparation service provider, ensure you have all the documents to hand over to the tax preparer to file your tax return.
Don’t forget to keep these documents for six years post-filing if the CRA chooses to review your return.
Benefits of Hiring a Professional Tax Preparer
A professional tax preparer knows the right questions to ask to get all the information needed to file your taxes accurately.
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The benefits of hiring a Chartered Professional Accountant include the following:
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Saving money
Professional accountants must have up-to-date knowledge of existing and proposed tax legislation. They can advise you regarding new or existing credits and deductions you might be eligible for, thus helping you minimize your tax burden.
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High accuracy
Tax compliance has grown increasingly challenging to manage amid changing laws and regulations. The cost of omitting an amount or typing the wrong number while filing a tax return can add up quickly with CRA penalties and interest. Our professionals work with high levels of accuracy that can help you avoid costly mistakes when filing your return.
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You Can Save a Lot of Time
When you have handed over the tax filings to a professional, you can have peace of mind and save precious time. As a business owner or working professional, the time saved by relying on a tax expert can be spent furthering your goals or relaxing with your family.
Bohorquez Professional Corporation provides professional advice to help you navigate complex tax laws and regulations and deliver accurate personal tax preparation services in Calgary.
DIY vs. Professional Tax Preparation Services
When it comes to tax preparation, you can do it yourself (DIY) or hire a professional. Each approach has its own set of advantages and disadvantages.
DIY Tax Preparation
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Cost-effective: Doing your taxes can save you money on professional fees.
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Control: You have complete control over the process and your personal information.
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Learning opportunity: It can be a learning experience that increases financial literacy.
Professional Tax Preparation Services
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Expertise: Professionals have extensive knowledge of tax laws and can find deductions and credits you might miss.
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Time-saving: It frees you to focus on other essential aspects of your life or business.
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Accuracy: Reduces the risk of errors that could lead to penalties or missed opportunities for tax savings.
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Peace of mind: Knowing that a professional handles taxes can reduce stress and uncertainty.
Common Tax Mistakes and How to Avoid Them
​Filing taxes can be complicated, and mistakes are common. Here are some frequent errors and tips to avoid them:
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Incorrect or missing information: Double-check all personal information, such as Social Security numbers and addresses, to ensure accuracy.
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Math errors: Use tax software or a professional service to avoid simple arithmetic mistakes.
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Overlooked income: Report all income, including freelance work and side gigs.
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Missed deductions or credits: To maximize your tax benefits, stay informed about all available deductions and credits or consult a tax professional.
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Late filing or payment: File your tax return and pay any taxes owed on time to avoid penalties.
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Not keeping records: Maintain records of all tax-related documents for at least six years in case of an audit.
By being diligent and seeking professional help, you can avoid these common mistakes and ensure a smooth tax filing experience.
FAQs
The following are some commonly asked questions about our tax preparation services in Calgary:
Where Do I Have To Pay Taxes as a Remote Worker?
Your tax arrangement as a remote worker in Canada will depend entirely on whether you're employed (you work for a company) or self-employed (you work for yourself). For the former, you must pay taxes following the province's regulations where your employer is situated. This taxation situation is complicated for those who are self-employed. You can reach out to our team to learn more.
Which Provincial Tax Rates Do I Have To Abide by if I Work Remotely?
As a remote worker, you must pay the provincial tax rates in your area of residence.
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I Live in Canada and Work Remotely for a U.S. Based Company. How Will I Be Taxed?
As a Canadian worker for a U.S.-based company, you will be taxed based on your worldwide income. You will have to convert your income into Canadian dollars when filing your T1 form.
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​​Our seasoned team can help you with all your queries about personal tax preparation in Calgary. We will assess your unique financial situation and provide bespoke services tailored to meet your needs. Please contact our team today.
Why Choose Our Tax Preparation Services?
We are a trusted accounting and tax preparation firm committed to providing individuals with professional tax preparation services in Calgary. Our knowledgeable staff diligently ensures your needs are fulfilled at the highest satisfaction level. They have committed to:
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Serving clients from start to finish until the task is completed successfully.
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Work honestly and devote time to finding the best solutions to optimize tax credits and minimize your taxes.
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Share our expert knowledge and information with clients to serve them better.
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Providing professional personal tax services in Spanish.
Contact Us
Whether you're an individual or a business, Bohorquez Professional Corporation's professional tax accountant can help you file accurate personal taxes and conduct business consultations for sound business advice.
We also provide business tax, payroll, and bookkeeping services in Calgary. ​
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Call us for an appointment or any queries.
