Planning the Best Approach
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Personal Tax Checklist β 2025
Expert Tax Services in Calgary
Avoid penalties and stay financially secure. SBQS Ltd. provides professional tax services for individuals, self-employed professionals, and businesses, ensuring accurate filing every time.
Maximize Your Tax Benefits
Your financial health matters. We ensures personal, self-employed, and corporate taxes are filed accurately and efficientlyβhelping you get the most from your returns.
Personal Income Tax Highlights
Personal income tax filing involves reporting your earnings, expenses, deductions, and credits to the government annually, ensuring compliance with tax laws.
Common sources of income tax slips include:
πΌ Employment: Salary, wages, T4/T4A slips
π¦ Pensions & Annuities: Retirement income (T4A, T4RSP, etc.)
π Investments: Dividends, interest, capital gains
π Rental Income: Earnings from property
π» Self-Employment: Business or freelance income
π° RRSP Withdrawals: Registered Retirement Savings Plan income
π Other Income: Benefits, scholarships, debt forgiveness
Common Deductions You Can Claim
π’ Membership & Professional Dues: Union or professional fees
π Moving Expenses: Costs of relocating for work
πΆ Child Care Expenses: Eligible daycare or care costs
βΏ Disability Support Expenses: Costs for disability-related support
π Rental Property Expenses: Deductions related to rental income
πΌ Employment Expenses (Form 2200): Work-related costs
π Allowable Business Investment Losses (ABIL): Investment losses you can claim
βοΈ Legal Fees: Eligible legal expenses
π Stock Options: Costs or gains related to stock options
π΅ Income Tax Installments Paid: Prepaid taxes
π§Ύ Pension Adjustments / Reversals (T10/T215): Past service pension adjustments
What are tax credits in Canada?
Canada offers various tax credits to individuals based on their personal circumstances. Here are some common tax credits often claimed on a T1 return:
π Medical Expenses
π Charitable Donations
β€οΈ Spousal Exemption
βΏ Disability Amounts (T2201)
πΆ Adoption Expenses
π Tuition & Education (T2202/T2202A)
π° Student Loan Interest
π§ββοΈ Caregiver Amounts
Why Choose Us for Your Personal Taxes?
π§βπΌ Expert Guidance β Personalized, accurate tax advice
π° Maximize Refunds β Claim all eligible credits and deductions
β Stress-Free Filing β We handle the complexity for you
π On-Time & Compliant β Avoid penalties, stay CRA-compliant
π€ Personalized Support β Individual attention for every client
π Secure & Confidential β Your information is safe with us
Bookkeeping & Payroll Help?
πΌ Payroll
π GST Returns
π Bookkeeping & Accounting
π Financial Statements
π§Ύ Year-End T-Slips β Prepare and submit to CRA
