Getting Organized for Tax Season

by Dean Paley on January 15, 2013

The annual income tax filing deadline for most individuals is April 30, 2013 and for those with self-employment income the deadline is not until June 15th.

If you have a balance owing, you must have the balance paid by April 30th, 2013, regardless of when you have to file.

Also, if your balance owing for the 2012 tax year is more than $3,000, you may have to make installment payments during 2013. The first installment payment is due March 15th!

Interestingly enough T4’s and T5’s are not due until the end of February and some T3’s may not be due until March 30th.5-Dollar-Bill-200x300

Putting it All Together

In reading the above, it becomes clear that it is important to know the important due dates to avoid costly interest and penalties.

For most taxpayers, I suggest calculating (or estimating) your taxes before March 15th, even though some tax slips may not be in to ensure there is enough time to make the first installment payment for 2013.

Handy Organizer

To help you get prepared for tax season, I have created this handy tax organizer that can be used to gather all of the information needed to complete your tax return.

There are a number of other helpful tax resources available on the download page of my website.

If you would arrange an appointment to have us begin your 2012 taxes, give us a call at (289) 288-1206 today or contact me by e-mail.

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