TAX CHECKLIST
Most Important
- Bring a picture of yourself in the throes of preparing for your appointment. A prize for the most amusing photograph will be awarded.
- While preparing for your meeting at Artbooks, consume a good bottle of wine.
- Listen to some music.
Slips and Receipts - where applicable
- All T4's (if you had a 'job' job we can't do a thing without these)
- T4A's (all of 'em)
- T4E (unemployment)/T4RSP (RRSP cashed)
- T3/T5's (interest & dividends)
You need to actually submit receipts with your tax return if you are claiming a deduction for the following items:
- Union dues (just in case)
- Charitable & Political donations
- Tuition & Education deduction
Other things you will need
- Your assessment of last year's taxes from CCRA (the government)
- RRSP Deduction Limit form from CCRA (on the assessment)
- Cheque(s) ready to leave with us to pay your taxes
- A copy of last year's return if we did not prepare it
- Your rent or property taxes - address(es), landlord(s), amount(s)
Home Renovation Tax Credit
For 2009 taxes only: if you have Home Reno's that you will be claiming for a tax-credit, please records your receipts on the Home Reno Sheet BEFORE your tax meeting.
If you like, you can download Artbooks' Home Reno Sheet.
Medical Expenses
When claiming your 2003 medical expenses you may use any 365 time period that ends in 2003, i.e. January 2, 2002 to January 1, 2003. Therefore choose the 365 day period during which you spent the most on medical bills.
For each receipt please list:
- The date of the treatment or purchase
- Total amount spent
- The amount (if any) that was reimbursed by insurance
- Your share of the cost
- The name of the patient
- The name of the practitioner or supplier
- The treatment or service provided
At the head of the list write the time period covered and at the bottom write total. If you like, you can download Artbooks' Medical Expense Sheet.
Childcare Expenses
If you are claiming childcare expenses please list for each child:
- The name of the childcare provider
- The SIN Number of the childcare provider (for individual babysitters only)
- The address of the childcare provider
- The amount paid for childcare
- For camps, please include the number of days
If you like, you can download Artbooks' Childcare Expense Sheet.
For Both Medical & Childcare Expenses:
For years the oodles of receipts have been the bane of our dispatchers' existence. So if you have more than 3 receipts, please attach your originals and make photocopies yourself to keep at home.
Your Business
- A complete revenue listing.
- A complete breakdown of expenses using the SAME categories that you used last year.*
- Don't forget that meals are only 50% deductible so don't lump them in with anything like promotion or other types of travel expenses.
- Interest expenses - on your mortgage or on business loans. (Note: this is not the mortgage or loan payment which includes some portion of the principal)
- Any reimbursements for your expenses.
*You will find these categories on the left side of last year's red folder. It's called your income statement and has a blue corner. I can't tell you how many of you reinvent your categories every year & this costs both of us a ton of extra time. Please feel free, however, to add or retire categories. If you're new to Artbooks, you can download a P & L (Profit and Loss) form HERE.
Partners, offspring and sundry individuals
- 3 signed labels from your other supporting person.
- Your spouse's (other supporting person's) net and taxable income amounts.
- A knowledge of whether your spouse (other supporting person) has claimed the federal tax credit, the GST credit, the Ontario tax credit, the child tax credit, the dependents, the home office and anything else you may share.
- If you're new to Artbooks, we will need your partner's SIN and birthday.
- Bring the birth date of each child.
- Decide who's claiming the Equivalent to Married deduction (if any).
- Decide who's claiming the Tuition Expense.
Other things you may need?
- Your separation agreement, child support payments, alimony.
- Moving expense receipts
- Form T2200 if you are claiming employment expenses.
- Proof of installment payments.
- Receipts from any investment activities.
- Statement of Capital Gains & Losses - your broker can prepare this for you.
- Financial Statements from other businesses or partnerships owned by you.
Download a copy of this Check List
PROFIT AND LOSS STATEMENTS
Choose the category that most closely matches your profession:
- Actor P & L: Download
- Dancer/Choreographer P & L: Download
- Filmmaker P & L: Download
- Journalist P & L: Download
- Musician P & L: Download
- Photographer P & L: Download
- Therapist P & L: Download
- Visual Artist P & L: Download
Optional
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ARTBOOKS
720 Spadina Avenue, Suite 513
Toronto ON • M5S 2T9
Tel: 416-466-4435 • Fax: 416-466-3818
Email: artbooks@loosechange.ca