Personal Individual Income Tax Preparation

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16 Titus St., Halifax (902) 431-9355

Let the Experts Do Your Tax!
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Income Tax Preparation Services for YOU!

Gather ALL Your slips and receipts!

When it comes to your individual income tax preparation, it is always better to be safe than sorry. Bring in all the receipts you have for expenses and causes you have supported.

Drop to TAXMAN or Email from Home!

No need to come see us! You can email your T4(s), documents, and receipts to us and we do your individual income taxes for you and file them without worrying about a winter drive!

We E-File for Speed and Security

We prepare your income tax and use electronic filing to ensure the safest and most secure means to submit your income taxes to the CRA.

Satisfaction Guaranteed

We are your tax experts, so you can relax knowing TAXMAN will maximize your allowable expenses and credits in order to minimize your income tax payable to CRA.

Book Appointment for
Income Tax Preparation

Let us Prepare your income taxes and file Them for you

How do the CERB, CWLB, and other federal programs affect your taxes for this year? Do you want help with the CRA forms? Do you know all of your personal deductions or and how to claim your medical and/or childcare expenses? What travel expenses can you claim and how do you do it?

Individual Income Tax Preparation ​
image of two empty chairs on a beach for people to relax in. Taxman can prepare and file your taxe so that you relax.
We do Tax . . . You relax!

We appreciate how hard you work, so we want to help you do everything in your power to reduce the liability for your income taxes in your lifetime.

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You are a busy mom, teacher, mechanic etc., and may not have time to file your taxes or keep up to date with new income tax regulations. The Canada Revenue Agency has useful information about the process to file, but is not as helpful with how to calculate your personal taxes when preparing to file your income taxes.

That’s where Taxman comes in. Relax. Let TAXMAN prepare your income taxes and the forms required by CRA for you. We can file your personal income taxes online securely or by the traditional means through the mail. Our expertise is to understand the laws and regulations for income taxes in order to claim all the expenses and tax credits to which you are legally entitled.

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Individual Income Tax Preparation ​
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Income Tax Deductions

Are you aware of all your personal deductions and tax credits when you prepare your individual income tax return? Do you have an office space that you use in your home

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and are you claiming the maximum expenses allowed for a work space on your tax return? What is the best way to calculate the expenses for your vehicle? How much should you claim for expenses for food and lodging if you are self-employed?

The CRA website has helpful information for individuals and sole proprietors working from home for income tax preparation for self-employed individuals, sole proprietors, and many small businesses (for business tax preparation, see here). See especially the Calculation of business-use-of-home expenses on Form T2125, Part 7, which is part of your Statement of Business or Professional Activities. Income tax preparation is our expertise, if you need any help.

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CALL TAXMAN (902) 431-9355

Individual Income Tax Preparation ​
Image of a tax auditor with Santa Claus asking about receipts for charitable donations, which can be used as tax credits towards reducing your income tax that is payable to the CRA.
Income Tax Credits

Tax credits are amounts that monies that can be applied to reduce the tax you pay on your taxable income when preparing and filing your income taxes. The federal, provincial and territorial governments each

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provide tax credits, which you can use to lower the amount of taxable income that you are liable to pay taxes on.

A refundable tax credit is a credit that can be paid to you even if you have no income. Are you a stay-at-home mom or do you care for someone who is disabled? Other tax credits can be claimed for medical and dental expenses to reduce your tax payable. Do you make charitable donations? You can download schedule 9 here for charitable donations. Pamphlet P113 is a comprehensive guide to charitable donations and the taxation experts at TAXMAN will help you with any questions about taxes and your individual income tax preparation.

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Individual Income Tax Preparation ​
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Taxman can reduce your income tax payable

NOW and in the FUTURE!
Income Tax Planning

Our individual income tax bill that we pay to the Canada Revenue Agency is the largest liability that most people have in their lives. TAXMAN is here to help you with any questions, and can prepare your income taxes and file

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them with the CRA for you. Will you be facing tax implications in the future that will affect your filing and income tax preparation? Pensioners or those approaching retirement should consider carefully how to best save on their income taxes during retirement.

Learn more about Registered Retirement Savings Plans (RRSPs) here. RRSPs are still great options for retirement savings. They are often used for investment because you can deduct the amount invested as a tax credit to lower your income tax payable. However, unlike Tax Free Savings Accounts (TFSAs), which allow the investment to grow tax-free, eventually there is a tax that must be paid on the money that is withdrawn from the funds in an RRSP. Could your total taxable earnings from investments and pensions effect a clawback on your old age security (OAS)?

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Why Choose Taxman

Taxman is locally owned and has been serving Halifax and the greater area for 20 years now! TAXMAN is an expert in income taxes so that you can relax. TAXMAN can prepare your individual return and the T2 Corprate return for your business..

What You Get

Taxman can prepare your T1 for your individual income taxes with the CRA for filing online. Are you taking advantage of all the deductions and income tax credits that are avaialbe to you as an individual? Are there expenses that you are missing that can  reduce your income tax payable?

FAQ

Most frequent questions and answers

The deadline for filing T1 Personal Income Tax returns is April 30, unless it falls on a weekend, in which case the deadline is midnight the following Monday.
The deadline for filing T2 Corporate and Business Tax returns is within six months of the corporation’s year-end.
The deadline for a small business that is not incorporated is June 15, unless it falls on a weekend, in which case the deadline is midnight the following Monday, and would be submitted on your T1 tax form. See about businesses HERE.

Child care expenses are amounts you paid to have someone look after your dependents so that you AND your partner can:

  • Earn income from employment;
  • Carry on a business either alone or as an active partner;
  • Attend school under the conditions identified under Educational program; or
  • Carry on research or similar work, for which you or the other person received a grant.

YOU BOTH HAVE TO HAVE EARNED INCOME and the child must have lived with you or the other person when the expense was incurred for the expense to qualify. Usually, you can only deduct payments for services provided in Canada by a Canadian resident.

NOTE: Childcare expenses are generally only deductible from the income of the ‘Lower-Income’ spouse or partner, but there are exceptions to the rule.

There is the ability to deduct interest charges as an expense to lowere your income tax payable when preparing your tax return. For example, you may deduct interest expenses on monies borrowed to earn interest, such as dividend or royalty income, interest earning bonds, and dividend-paying shares/stock under certain conditions. In most cases, if you are required to have a home office, your mortgage interest becomes deductible.

If you moved for your post-secondary studies and you are a full-time student, you may be able to claim moving expenses. However, you can only deduct these expenses from the part of your scholarships, fellowships, bursaries, certain prizes, and research grants that is required to be included in your income.

If you moved to work, including summer employment, or to run a business, you can also claim moving expenses. However you can only deduct these expenses from the income you earned at the new work location. To qualify, your new home must be at least 40 kilometres closer to your new school or work location. If the income at he new location is not enough to fully deduct your move, the residual moving expenses are carried forward to the next year.

If, at any time in the tax year, you (either alone or with another person) maintained a dwelling where you and one or more of your dependants lived, you may be able to claim your dependent’s full Disability Credit, and most times, an extra Family Caregiver amount, for EACH dependent.

Each dependant must have been 18 years of age or older and dependent on you due to an impairment in physical or mental functions. If the dependant is your or your spouse’s or common-law partner’s parent or grandparent, he or she had to have been born in 1949 or earlier.

If your employer requires you to go here and there for work related purposes, have him/her give you a completed form (T2200) stating such; this could potentially allow you to claim your vehicle, food, parking, lodging, supplies for work, your cell phone, etc.

You can claim $3,000 for the volunteer firefighters’ amount (VFA) or the search and rescue volunteers’ amount (SRVA), but not both, if you meet the following conditions:

  • you were a volunteer firefighter or a search and rescue volunteer during the year; and
  • you completed at least 200 hours of eligible volunteer firefighting services or eligible search and rescue volunteer services in the year.

Preparation and tax planning are in our DNA! Taxman serves both individuals and companies with tax planning to save.

Will you have multiple income streams in retirement? For example, many people who are approaching retirement age or are senior citizens have accumulated savings through their own RRSP or from their employer. RRSPs are great for accumulating retirement funds and provide a tax deduction for the funds when you deposit. However, eventually you do have to pay taxes when you withdraw funds from the RRSP account (10% for the first $5000). The law requires that you convert your RRSPs into a RRIF by the age of 71. Your access to the funds may differ depending on whether they are locked-in. If you had RRSPs through an employer they are usually “locked in”. Even though these pension plans are set up so that you cannot withdraw all of the money at once, most provinces allow you to withdraw a percentage of the whole amount on a one-time basis for different reasons. Nova Scotia offers provisions for financial hardship, shortened life expectancy, or if the value of the pension plan is low. There are also exceptions for excess funds or if you cease to be a resident. The funds must be in a LIF (Life Income Fund) or LIRA (Locked-in Retirement Account). See the following Government of Nova Scotia page for more detail on locked in funds and come see Taxman!

Currently, the laws mandated by the Federal Government in Ottawa require that we also withdraw a minimum percentage of the funds from a Registered Retirement Income Fund that increases as we grow older. The annual (and taxable) withdrawals start at 5.28% at age 71 (for RRIFs set up after 1992), increase to 6.82% at age 80, 11.92% at 90 and 20% at age 95 plus. These RRIF withdrawals are fully taxable income like salaried income or interest income. What tax implications do you face?

CERB, CWLB and other programs were initiated due to the the outbreak of Covid 19. These benefits were intended to supplement someone’s income during periods where they could not work or were limited because business activity had slowed so much and some places were not even able to provide rheir service.

If you were working sporadically and earned over $38,000  (excluding the CRB benefits your received) then you have to reimburse $0.50 from the benefit for each dollar that you earned above $38,000 up to the total CRB amount you received during the year.