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 and Omicron.
Encrypted service available for exchange of sensitive personal and business information.
US tax payers: 2022 filing season starts Jan., 24th
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 2021 income tax returns. But it is a good idea to think
ahead about how to pay less TAX:
CRA lifted some of the restrictions on claiming home office expenses in 2020 and will continue to do so for 2021 tax year. Employees who worked from home more than 50% of the time over a period of a least four consecutive weeks in 2021 due to COVID-19 and Omicron will now be eligible to claim the home office expenses deduction for 2020 and 2021
- RRSP: You have until the end of Feb. 2022 to purchase any RRSP amounts that you want
to claim in your 2021 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
What is a TFSA and how does it work?
A TFSA is a registered investment or savings account that lets you set money aside, tax-free throughout your lifetime.
and is available to any resident of Canada, 18 years of age or older with a valid social insurance number.
TFSAs do not provide an immediate tax-deduction, as an RRSP does, and the money you contribute to your TFSA account is already taxed. However, when you choose to withdraw funds, for any reason, they will not be taxed.
The primary benefit of a TFSA is that your contributions will grow tax-free throughout your lifetime. Interest, dividends, and capital gains earned through your TFSA investments can be withdrawn tax-free. To know more, talk to your bank or finacial advisor
- 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.
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.