M Little Accounting Services

I have created an Excel-based checklist (and forms) of the most common items required for personal income taxes, drop me a note if you would like to use it in preparation for the 2020 tax season! Stay well!

Happy Friday! Many tax related documents are being released to their "owners" each week and if you have all you need, it is never too early to begin your tax filing process. Just note, many banks and other organizations only post in your documents section on-line, so you may have to download your files instead of waiting on the post. Same goes for employers where many of them issue T4, T4As or the like via e-mail or employee portals. Cheers!

Rules have changed for the Canada Emergency Business Account, allowing other small businesses who previously did not qualify to have the opportunity. Banks are working through updating their internal processes. Stay tuned; let me know if you could use my assistance.

Yes, It is now past the solstice, days are long and great weather here in Ontario! Just because the June 30 deadline has past, does not mean you should not file your personal income taxes if you have not yet done so. Let me know if you still need help in getting them done! If you owe monies, penalties and interest add up quickly. If you have a refund owing to you, why not get it in your pocket! Also, if you do not file, you may be missing out on various government and other related benefits. Have an amazing start to Summer!

If you are looking for a rain barrel to help repurpose water....consider this! It supports our local Thorndale Lion Community Centre fundraiser too!

It is the final weekend for 2019 Tax filings with no late filing penalties! Recall - any balances owing are not due until September 1, 2020 however you must file by June 1 to avoid penalties. Let me know if I can help, otherwise Summer is here!

Happy Hot Days! Still another 6 days (including today) to file returns for 2019 without penalties. And if you have prior years to file, recommend you do so to collect any potential benefits (Child Tax, Energy Rebates, etc). Let me know if I can help you complete them!. Stay cool...

Benefits payments for eligible Canadians to continue until Fall 2020 As announced by the Honourable Diane Lebouthillier, Minister of National Revenue, on May 15, 2020, the CRA has extended benefit payments until the end of September for those who are unable to file their 2019 tax return on time. For individuals who already receive the Canada child benefit, the GST/HST credit, or both, their estimated payments will be based on the information from their 2018 tax return. In add...ition, as noted in the Prime Minister’s News Release on May 12, 2020, this also applies to temporarily extending GIS and Allowance payments if seniors’ 2019 income information has not been assessed. This will ensure that the most vulnerable population continues to receive their benefits when they need them the most. If we are unable to file clients’ 2019 return in time for it to be assessed by early September 2020, the estimated benefits and/or credits will stop in October 2020. You will then be advised to repay the estimated amounts that were issued to them starting in July 2020. The CRA encourages Canadians to file their tax returns by June 1, 2020 or as soon as possible in order to receive the right amount of benefits based on their 2019 tax return, and in order to ensure continuity of benefits beyond September 2020. Contact me if you need help to file your personal income taxes. Hope everyone is safe and well.

Just a friendly reminder from your friendly neighbourhood Accountant. Please remember that our tax deadline has been moved to JUNE 1ST and that is only 23 days left! If you owe you don't need to pay until Sept 1st however there will be late fees and interest to those that don't produce their taxes on time.... Call us or email us to drop off or upload your taxes today! [email protected] or 519.359.7644.