You would think that doing income tax returns is just a ‘’punching numbers’’ job?!  Well… definitely not at You First!  We want to make sure you get the most deductions as possible. Everybody in the office will have a look at your file.  Here is the process:

1. Victoria, our receptionist, will take your documents if you come to the office or get them in the mail.  If you are an investment client, she will look at your portfolio and make sure you included all receipts and check for any capital gains/losses by going to the Fund Companies Websites and reviewing all your accounts.

2. Janet or Mona will organize all your papers and will do the first data entry.  Janet is our ‘’medical expenses’’ queen!

3. After I get your file!  I will go through everything the staff did and I will check if there is anything different from last year; the business worksheet expenses (for those of you who are self-employed), rental income, etc. and I will send you an email if I have any questions so far.

4. Once I got everything from you, I will pass your file to Terry, our income tax expert!  He will check everything we did so far and will do all the ‘’advanced entries’’ to make sure you get the most deductions as possible.  He might ask you a few questions too about the things that I missed!

5. And then, Terry will give your file to Odette.  She has the big picture!  If you are an investment client, she knows a lot about your situation and might pick up on things all of us never thought about!  She will make sure that the strategy she had for you is in place to be tax efficient.

6. Terry will get your file again to finalize and print your returns.

All that in a two week turnover!  Please note that if we have to wait for answers to our questions, it takes more time than the scheduled two weeks.

We will guarantee your tax return to be completed by April 30th if we get your documents before April 15th. So make sure we have everything, especially if you think you are going to owe money to CRA this year.  If you owe and you don’t file before April 30th, you will get a 5% penalty on the amount owing. And the interest will start kicking in!  If you are getting a refund, there is no rush at all!