Need help troubleshooting a tax issue? Scroll through our handy list of frequently asked questions about filing taxes, running a business or handling an estate.
- How do I apply for CPP?
- I’m planning on starting my own business. What should I be thinking about?
- I am an executor for an estate. What tax returns do I have to file?
- I received another slip after I filed my personal tax return. Should I keep for next year?
To apply for your CPP retirement pension, you must complete and submit your application to Service Canada. You may call Service Canada for an application form to be sent to you, or you can file online. The phone number for Service Canada is 1-800-277-9914 and the website is www.servicecanada.com.
Call Clark, Robinson to find out how recent changes in the rules for Canada Pension may affect your pension earnings.
The first thing to think about is how well you know the business you are about to embark upon. Do what you know best, if you need to know more, then find out more.
You need a financial business plan and a strategic business plan. Clark, Robinson can help you build these plans, and assist you in identifying areas where more thought is needed.
There are many administrative considerations for starting your own business, such are registering for Worksafe BC, Goods and Services Tax, Provincial Sales Tax, a CRA payroll remittance account, etc. You also need to set up a system to bill your customers, collect your accounts, and pay your bills. Clark, Robinson can help you with these administrative tasks.
For a deceased taxpayer, generally there is at least one final personal tax return. There may also be an optional personal tax return for certain types of income owing at the date of death. Often, there is a requirement for a trust return as well, to report income in the estate from date of death until the estate is distributed to the beneficiaries. Clark, Robinson has experience in accounting for estates and the related tax planning involved. Being an executor can be challenging, allow us to help you navigate through the income tax reports required so you have one less thing to worry about.
If we have prepared your personal tax return, then any slips received after it was filed should be brought in immediately for us to examine. An adjustment to the tax return may be required, and it is important to do so at the earliest possible opportunity, to avoid the excessively punitive penalties that CRA imposes on taxpayers who do not report tax slips correctly. Definitely do not wait until next year, by then CRA will have identified that there was a slip missed and they will reassess the return, with penalties.