Tax Essentials

Fairtax Business Services is a Canadian and US income tax e-filer

Do not leave home. We can collect and file your taxes remotely, safe and secure, help you stay safe from Covid19.

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Canadian Tax payers:

Prepare yourself and make the tax tape less sticky. I would like to thank you
for the opportunity of preparing your previous year(s) tax
return(s). Most of us have yet to receive some critical documents needed
to complete our 2020 income tax returns. But it is a good idea to think
ahead about how to pay less TAX:

CRA has lifted some of the restrictions on claiming home office expenses. Employees who worked from home more than 50% of the time over a period of a least four consecutive weeks in 2020 due to COVID-19 will now be eligible to claim the home office expenses deduction for 2020

  • RRSP: You have until the end of Feb. 2021 to purchase any RRSP amounts that you want
    to claim in your 2020 return. If you are not certain of the optimum
    amount please give me a call. For advice on how to purchase or
    invest your RRSP please contact your financial institution/financial
  • Employees: T4, babysitting receipts (with sitters SIN#
    or institutions name on it), property taxes or rent receipts, kids
    camp, sports  & other expenses, medical and drug receipts,
    charitable donations. Most of these items may also apply to other
  •  Investors: T3s, T5s, Capital gain/losses-stock
    transactions, interest on investment related loans, brokerage &
    safety deposit box fees.
  • Rental income: all expenses (gas, hydro, repairs, etc…), mortgage expenses, insurance and rental income.
  • Truckers: TL2, logbook, meals, and other expenses.
  • Businesses,
    self-employed and commissioned persons: all expenses and
    income (If you have any questions please call me for more details).
  • Qualified Employees: T2200 (declaration of conditions of employment).
  • Work out of home: all gas/hydro bills and invoices for any home office-related expenses.