What Your Tax Accountant Needs From You To Do Your Taxes

Doing your own taxes can be quite a handful, especially since you have so many things you have to do on a daily basis, even though you may be a small business. Not only do you have to do all the business transactions yourself, but you’ll have to ensure that you accurately file your taxes as well. Getting a tax accountant to do your job for you can make it much easier for you to conduct your business and then accurately file them. We’re going to show you some of the things that you need to give to your tax accountant so that they can do their job for your business.

·         Your tax accountant needs your financial statements. This includes a number of different financial documents which include a balance sheet, an income statement, a cash flow statement and documents like your assets and liabilities.

·         Your tax accountant needs your list of capital asset activity. The accountant needs to know of the details of any capital assets which were bought, sold or disposed of, because these need to be accounted for in your tax return.

·         Your tax accountant needs your vehicle log. Often times, you may be using your own vehicle to do certain things for business and you will be allowed to claim a portion of the car’s operating expenses as a tax deduction.

·         Your tax accountant needs your home-office expenses summary. If you usually meet your customers and do business in your home office or if it’s your sole place of business, then you can claim home-office expenses for it.

·         Your tax accountant needs your Form 1098 for mortgage interest and property taxes. You’ll need to give this to your accountant if you ask for this form in order to claim the mortgage-interest deduction that you are entitled to. The accountant may also need them as a part of your home-office deduction.

If you are looking for a professional accountant to do your taxes in Canada, then you have come to the right place as we are tax experts in Kingston Ontario and we can help process your income tax return quickly while maximizing the tax return you will receive. Our decades of income tax filing experience can help you with your personal and business taxes in Kingston. Remove the headache from taxes and let our skilled tax consultants handle your accounting and bookkeeping to process smooth tax returns for you. Precise, Accurate Instant Tax Refunds Since 2002.