ebertCPAChartered Professional Accountant

Tax Compliance & Payroll

Personal Tax Returns in Edmonton

Personal income tax returns for business owners and individuals, including dividend income and self-employment income, prepared alongside your business accounting.

Request a consultation What’s included

Personal returnsDividend incomeSelf-employment

Two people talking over coffee at a table by a window

Overview

Your personal return and your company’s books should tell the same story.

For business owners, personal tax and business accounting are connected: how you pay yourself, through salary or dividends, shows up on both. We prepare your personal return from the same records we use for your business, so the two stay consistent.

Owners: Salary and dividends reported on your personal return.
Consistent: Prepared from the same records as your business.
Reviewed: Gone through with you before anything is filed.
Agreed: Scope and fees are set before work begins.

What’s included

Who it’s for

Who We Prepare Returns For

Personal returns for business owners, sole proprietors and individuals, prepared alongside your business accounting where there is one.

Incorporated Owners

Paid by salary, dividends or a mix of both, with your return prepared alongside the company’s accounts.

Sole Proprietors

Business income and expenses reported on your personal return, with the records that support them.

Individuals

Employment and investment income, with the deductions and credits that apply to you.

What’s included

Personal Tax Services

We discuss the returns and support you need before confirming the scope of your engagement.

Personal Income Tax Returns

Annual returns for business owners and individuals, prepared from your slips, receipts and records and reviewed with you before filing.

Dividend Income

Dividends paid from your corporation reported on your personal return, matched to the T5 slips your company issues.

Self-Employment Income

Business income and expenses for sole proprietors reported on your return, with the records that support them.

Owner Pay Reviewed

Your salary and dividends reviewed alongside your business accounting, so your personal and company filings stay consistent.

Owner pay

Salary or Dividends?

How you pay yourself from your corporation changes both your personal return and your company’s. We review the mix with you alongside your business accounting.

1
Salary
Paid through payroll and deductible for the company. Reported on a T4, it creates RRSP contribution room and requires CPP contributions from you and the company, with source deductions remitted to the CRA.
2
Dividends
Paid from the company’s after-tax profit, so not deductible for the company. Reported on a T5, with no CPP or payroll remittances; on your return they are grossed up and receive a dividend tax credit.

How it runs

The Tax Season

The dates that shape a personal return each year, and where our work fits.

Feb
Slips Issued
T4 and T5 slips for the previous year are due to you by the last day of February.
CRA date
Mar
RRSP Deadline
Contributions made in the first 60 days of the year can be deducted on last year’s return.
CRA date
Mar–Apr
Prepared and Reviewed
We prepare your return from your slips, receipts and business records, then go through it with you.
Our work
Apr 30
Filed and Paid
The filing deadline for most individuals, and the payment deadline for any balance owing.
Deadline
Jun 15
Self-Employed Filing
The filing deadline if you or your spouse or common-law partner ran a business. Any balance is still due April 30.
Deadline

Checklist

What We’ll Need From You

A starting list. We confirm what applies to you, and how to send it, when your engagement is set up.

Income Slips

T4 employment income
T5 investment and dividend income
T3 trust income
T4A pension and other income

Deductions and Credits

RRSP contribution receipts
Charitable donation receipts
Medical and childcare expenses
Tuition slips (T2202)

Business and Prior Year

Business income and expense records, if self-employed
Instalment payments made during the year
Last year’s notice of assessment

Working together

Frequently Asked Questions

Common questions about personal tax.

ServicesWhen are personal tax returns due?

Most individuals must file by April 30. Self-employed individuals and their spouses or common-law partners have until June 15 to file, but any balance owing is still due April 30.

ServicesShould I pay myself salary or dividends?

It depends on your company’s income, your personal needs and your plans. Salary creates RRSP room and CPP contributions and is deductible for the company; dividends are paid from after-tax profit and need no payroll. We review the mix with you alongside your business accounting.

ServicesDo you report dividend income from my company?

Yes. We report dividend income on your personal return and review it alongside your business accounting.

ServicesWhat is a shareholder loan account?

It records money moving between you and your company outside salary and dividends, such as personal costs paid from the business account. We keep it reconciled and review the balance at year-end: money you owe the company generally has to be repaid within one year after the end of the company’s tax year in which you took it, or it is added to your income.

ServicesCan you prepare my personal tax return as well as my business accounting?

Yes. We prepare personal income tax returns, including dividend income reporting, alongside your business accounting.

FeesHow are your fees determined?

Fees are quoted for each engagement and sized to your business. They depend on the services you need, the volume of transactions and the condition of your records: clean monthly statements take less work than a year of receipts in a box. We agree fees before work begins and discuss any additional work with you first.

Specialties