Tax season can be a stressful time for many families, especially if you’re expecting your return to be particularly complicated this year. Filing taxes can take up precious time and effort all throughout the spring, leaving you frustrated and potentially confused. If you’re not sure how best to do your taxes or you’re tired of feeling frustrated, you may want to consider reaching out to tax preparation services for professional help. If you want to learn more about tax prep services and how they could help take the burden off your shoulders come tax time, keep reading.
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There is often some confusion around what you do and do not need to provide when someone is doing your taxes for you. To make it simpler for yourself and the tax preparer, I am going to give you some ideas as to what you don’t need and hopefully it will save you and your tax preparer some precious time.
Here is a list of the things you don’t need to provide to your accountant when they are preparing your personal tax return:
- GST Credit statement – If you receive a GST cheque or deposit from the government, this is not an item that is taxable, so you don’t need to provide it.
- Provincial Health Care deduction limit – Some provinces have a program whereby after a certain amount of medical expenses are reached, the province will cover the rest. This is not something used for preparing your tax return.