Personal Tax Return Preparation

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Call 204-505-3113 to request a meeting 

Many people in Winnipeg find it difficult to prepare their tax returns. Taxes are ever changing and preparing tax returns in Winnipeg can be different each year. Mistakes can easily be made and incorrect returns may be filed.

Personal tax returns with errors face the risk of being audited and Canada Revenue Agency may assess large penalties and interest on any amount owing. It can take hours to go through records and paperwork to correct the mistakes made when trying to prepare or correct your own tax returns.

Fortunately, MMCGAPC personal tax return preparation services are affordable and assist taxpayers in filing properly prepared tax returns. Our staff are committed to providing expert knowledge in current tax rules and regulations. We are a team of highly skilled tax professionals that are dedicated to helping our clients. As your personal income tax accountant in Winnipeg MMCGAPC will assist you in identifying the tax slips needed to complete your personal tax return. The following are income tax information that are usually part of the revenue in a personal income tax return:

  • Employment income – T4, T4A
  • Pension and annuities – T4A, T4A(OAS), T4A(P), T4RIF, T4RSP
  • Investment income – T3, T5, T600, T5008, T5013 or T5013A
  • Foreign assets
  • Rental income
  • Registered Retirement Savings Plans
  • Schedule of Capital Gains
  • Income from Self-Employment
  • Debt forgiveness
  • Other income, including the following slips – T4E, T4PS, T5007, RC62, RC210

As your personal tax accountant in Winnipeg, MMCGAPC will also identify deductions to be included in your personal income tax return. The following is a list of deductions that may be identifiable in your personal tax return:

  • Employment expenses – Form 2200
  • Investment income – T101, T102, T5003, T5004, T1-CP
  • Expenses relating to a rental property
  • Registered Retirement Savings Plan Contributions
  • Membership fees, union and professional dues
  • Moving expenses
  • Child care expenses
  • Alimony and maintenance payments – T1157
  • Disability support expenses
  • Allowable business investment losses (ABIL)
  • Legal fees
  • Stock options
  • Income tax installments paid

The federal government also gives tax credits to individuals on their personal income tax returns based on certain criteria. As your personal tax accountant in Winnipeg we will ensure that all tax credits are applied correctly on your personal income tax return. The following is a list of tax credits that are commonly seen on a personal income tax return:

  • Spousal exemption
  • Dependents
  • Disability amounts – T2201
  • Adoption expenses
  • Tuition fees and education amounts – T2202 or T2202A
  • Interest paid on student loans
  • Medical expenses
  • Caregiver amounts
  • Charitable donations
  • Federal and Manitoba political contributions
  • Public transit pass amounts
  • Rent or property tax credit
  • Children’s fitness tax credit
  • Children’s art tax credit

Email success@mclenehan.com to book an appointment with a personal income tax accountant in winnipeg

Spring is usually the time when most individuals look for a personal tax accountant in Winnipeg for personal income tax preparation services. MMCGAPC assist in completing and filing personal income tax return (T1 returns) for hundreds of people in Winnipeg on an annual basis and has developed extensive experience in completing these returns.

MMCGAPC, your personal income tax accountant in Winnipeg, will ensure that your personal income tax return is filed on time.

The filing deadline for an employed Canadian is April 30th each year for the prior calendar year. If you owe any tax then you will need to pay the amount owing by April 30th or incur interest assessed by Canada Revenue Agency.

If you are a self-employed individual, the filing deadline to submit your personal income tax return is June 15 each year for the prior calendar year. However, if you owe any taxes then you will have to make payment by April 30 but will not be required to file your taxes until the June 15th deadline.

Interest at prescribed rates will start to accrue after the April 30th deadline if payments are not made on time. Penalties may also be assessed by Canada Revenue Agency if tax returns are not filed by the filing deadline.

We take the time to get to know each and every one of our individual clients so that we can offer custom-tailored advice on strategic tax reductions and innovative tax planning.

MMCGAPC will be your personal income tax accountant in Winnipeg and looks forward to working with you in the near future. Please contact us via email at mike@mclenehan.com or phone us at 204-505-3113 for all of your personal income tax needs.