Individual Income Tax Services
We provide personal tax services in Canada for simple to complex tax situations.
Maroof HS CPA Professional Corporation is a CPA firm registered with CPA Ontario and CPA Alberta and provides a comprehensive range of personal tax services. We are also CRA Approved EFILER and all our Individual tax returns (T1) are prepared under the direct supervision of an Ontario Chartered Accountant.
No matter how simple or complex your tax situation is, we are ready to handle it!
- Individual income tax and benefits return (T1) for individuals and couples having employment income
- Individual income tax preparation services for self-employed individuals (unincorporated businesses)
- Personal tax services for individuals having investment income, rental income or foreign income
- Income tax services for students
- Income tax services for new immigrants to Canada or Leavers (Emigrants) from Canada
- Income tax return preparation for deceased individuals
- Income tax services for non-residents
- Tax issues for residents, non-residents or dual residents of Canada
- Canadian Income Tax services for Canadian Snowbirds and US Persons
- Real Estate Transactions and Rental Property Tax Considerations
- Back filing of Personal Income Taxes – multiple tax years filing
- Voluntary Tax Disclosure and Tax Appeals
Complex Income Tax Returns
We handle complex individual income tax returns in Canada. Some of the complex tax issues we handle include:
- International Tax Issues
- Complex tax residency issues
- Foreign assets and income reporting
- Canadian taxes for Shareholders of foreign entities including corporations and hybrid entities.
- Foreign accrual property income (FAPI)
- Foreign tax credit issues
- Preparation and filing of information returns such as T1135 and T1134.
- Tax-deferred rollovers such as Section 85(1) rollovers
- Lifetime capital gain exemption for individuals
- Aggregate business investment losses
- Departure tax issues for emigrants
Online Income Tax Filing
Individuals with U.S. ties
We specialize in complex cross-border tax issues.
If you are a U.S. citizen, green card holder, resident alien or nonresident alien, you can rely on our expert cross-border tax services. You will have the added advantage of utilizing a one-stop solution for both Canada and the U.S. tax preparation services.
Back Filing of Personal Income Tax Returns
If you are falling behind your income tax return filings in Canada, you can come clean by filing all the pending tax returns. We help you in achieving compliance by falling past years’ tax returns (usually past ten years).
How much does it cost to file back tax returns in Canada? Well, different accountants and tax preparers charge different prices, most of them charging based on per return basis. This can result in a significant financial burden. We offer discounted prices to those who are in need. So, you can get in touch with us today.
Preparation and Filing of Applications under Voluntary Disclosure Program (VDP) for Individuals
In certain situations, we advise, or the client needs, to file a Voluntary Disclosures Program (VDP) Application. VDP applications are useful for taxpayers who want to come clean to the taxman!
A voluntary disclosure program provides a once-in-life opportunity to a taxpayer to correct any noncompliance. The program set criteria for the eligibility that must be met for a taxpayer to qualify for the relief. If a VDP application is rejected, the taxpayer has no protection from gross negligence or even criminal prosecution, and the CRA has a disclosure of noncompliance at its hand.
We help taxpayers by preparing and filing the VDP applications. By having us on your side, we ensure that your VDP application meets the eligibility criteria and does not fall under the exclusions. If your case is not eligible for VDP, we may offer some alternate planning and solutions to minimize any adverse impact.
Income Tax Planning – Mock or Planner Tax Returns
We prepare mock income tax returns or planner tax returns for individuals in Canada. Mock tax returns or planner returns are an important tool to best optimize your taxes ahead of year-end. Some of the situations where mock tax return helps greatly is; planning to immigrate or emigrate from Canada, having multiple streams of income, expected capital gain, deciding on tiered corporate structure, and many more. We perform tax planning using multiple scenarios and present the income tax effects of all of them.
If you are concerned that your income taxes for the year or next year are going to be very high, you are advised to plan ahead by requesting planner income tax returns in Canada.
Maximum Income Tax Refunds through Optimization
We do guarantee maximum tax situation optimization so that you do not have to pay extra tax dollars which you should not have, however, we do not guarantee maximum tax refunds. Our goal is to get you the maximum refund by doing a thorough tax return optimization to get you the deductions and credits applicable to you so that you have peace of mind that you have filed an accurate tax return.
We use the “maximum optimization” approach rather than “maximum refunds’ to retain clients, resulting in better economic benefits.