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Getting Organized for Tax Season

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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Dean Paley

A graduate of Simon Fraser University, Dean started and operated an independent painting company while perusing a degree at SFU. After graduating from Simon Fraser, Dean entered the Certified General Accountants Program of Professional studies where he obtained the professional CGA designation. After a number of successful years as the head of finance for the Canadian operations in a global financial services firm, Dean moved into a marketing role and established and launched a tax, estate and financial planning support department and service to advisors and clients. During this time Dean successfully obtained the Certified Financial Planner (CFP) designation. Dean has been a member of the Canadian Forces Reserve spanning three decades serving in the Royal Westminster Regiment (B.C.), the Military Police and later as a commissioned officer in the Cadet Instructors Cadre in Hamilton Ontario. Dean Paley CGA CFP has been interviewed and quoted in major media such as the National Post, Financial Post, Toronto Star, Canadian Business, Money Sense and Investment Executive. Dean is married to his lovely wife Deborah and has four lovely children.