Tax preparation services

Preparing your own tax return is not as easy as it sounds. The Canadian tax can be so complicated that even filing a relatively simple return can produce questions you can answer unless you're a tax accountant. You can easily overlook credits and deductions that you’re entitled to, costing you money. While a tax software system can help, it will never replace the insight of a real tax professional.

At ABAP, we deliver accurate, efficient preparation of all types of tax returns including tax filings , and individual income tax returns for your partners and clients. Call Anil Bhatia, CPA now at (437) 996-9600 to learn more about our tax preparation services or request a free consultation through our website.

Our income tax preparation services include:

Business Tax Preparation for Corporation

We prepare business tax returns for your Corporation. Whether your firm operates in Ontario or has locations in other Province, we can prepare and file your Provincial and Federal taxes.

Tax Returns for Individual & Family Members

When you turn to us for tax preparation you’ll have peace of mind knowing that your income tax return reflects all the savings you’re owed according to current regulations. We offer quick turnaround on individual tax returns so you can get your money back fast.

As a rule of thumb the following are the sources of income tax slips that are usually seen apart from the personal tax return:

  • Employment Income- T4, T4A
  • Pension and Annuities- T4A, T4A(OAS), T4A(P), T4RIF, T4RSP
  • Investment Income- T5, T3, T600, T5008, T5013 OR T5013A
  • Foreign Assets
  • Rental Income
  • Registered Retirement Savings Plan (RRSP) Income- T4RSP
  • Schedule of Capital Gains and Losses

  • Income from Self Employment

  • Debt Forgiveness

  • Other Income, including the following slips- T4E, T4PS, T5007, RC62, RC210

The following is a list of tax credits that are commonly seen used on a T1 return:

  • Spousal Exemption
  • Dependents (born earlier than 1993 in the 2013 tax year)
  • Disability Amounts- T2201
  • Adoption Expenses
  • Tuition, Fees and Education Amounts- T2202 or T2202A
  • Interest Paid on Student Loans
  • Medical Expenses
  • Caregiver Amounts
  • Charitable Donations- 2013 was the first year of implementation of the first time donors super credit
  • Federal or Ontario Political Contributions
  • Public Transit Pass Amounts (must be monthly passes or passes for four consecutive weeks)
  • Rent or Property Tax Credit (specific conditions apply)
  • Child Fitness Credit (max. $500 per child)
  • Children’s Arts Tax Credits (max. $500 per child)

Trust, Gift and Estate Tax Returns

Not all tax preparers possess the skills and training needed to prepare trust, gift and estate tax returns, but we’re fully qualified to process both Federal and Province. We meticulously prepare these types of returns and file them in a timely manner to avoid penalties.