What Do you Need to Give your Tax Preparer?

Unsure about what you need to provide your tax preparer? I’ve put together a list 🙂

Personal Information

• Full name
• Social insurance number
• Date of birth
• Mailing address
• Phone number and email address
• Marital status

Dependents

• Names of any children along with their dates of birth
• Child care amounts
• For single parents – the parenting arrangement or who claims the child(ren) as eligible dependent.

Income

• Information slips such as T4’s or T5’s

• If self employed – the following:
  • Business name
  • Brief description of the business
  • The business number (if applicable)
  • If you’d like your HST return filed along with your tax return (if applicable)
  • Income and expense statement. This is basically just a yearly total for each category of expense you have (ie. gas, cell phone, insurance, etc.) There’s a detailed breakdown of what constitutes business income and expenses here.
    
    Note: if you are doing your own income and expense statement, you don’t need to provide all your receipts but it’s recommended you keep them for your records.
    
• If there’s rental income – the following:
  • Rental address
  • Whether it’s a full house rented, or a percent of a home rented (like a basement apartment)
  • Rental income for the year
  • Mortgage interest
  • Property tax
  • House insurance
  • Any repairs and maintenance
  • Any heat, power, internet, snow clearing, etc. that was paid by you for the rental
  • Any advertisement or management fees

Credits and deductions

• Information about any deductions or credits you wish to claim such as:
  • Union dues
  • Tuition
  • Medical expenses
  • Disability tax credit. Read more about it here DTC – Canada.ca
  • Fitness amounts – for the whole family! Not just kids
  • Employment expenses or the work from home deduction
  • RRSP contributions
  • Interest on student loans

This isn’t an exhaustive list, just the most common ones.

Hope this helps you prepare for tax season!

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Dawn Evans is a writer, tax specialist, and advocate for financial and personal empowerment — always a little bit of everything.

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~Dawn