Business And Taxation

Business Law

Business And Taxation

At JCA Law, we will take the time to understand your business to provide you with an informed professional advice to reach the best possible long term and cost effective solutions to your business.

Incorporation

When starting a business, you may wish to incorporate or not depending on your particular business circumstances. We are here to help you make the right decision for you.

Business Plans

If you are looking into entering the business world, we will help you draft a business plan.

Contracts

We have experience in the drafting and negotiating agreements and we will act in a manner that will protect your rights and interests.

Other Legal Service We Can Do For Your Business:

Electronic Filing of Taxes (e-File Tax)

If you consider the content of your bank account to be too substantial to actually warrant any type of tax filing, then you should really contact your accountant, financial advisor, or lawyer to discuss the matter. With tax season just around the corner (beginning on January and lasting through April), now is as good as time as any to get right on that discussion.

How JCA Law Can Help You

We at JCA Law will help you not only understand the scope of the matter but also provide you guidance in handling and filing your taxes.

The professional legal assistance we offer will also help you avoid sustaining unnecessary penalties, which is likely if you were to file your returns late and thus incur interests. After all, though the Canada Revenue Agency (CRA) is responsible for collecting taxes and upholding federal tax laws, individual citizens remain responsible for filing their own returns. The CRA also holds citizens legally accountable for their own financial records, regardless of whether or not they hired a third-party accountant or bookkeeper.

Getting Started

Make sure that you have gathered all relevant tax-related information and documents, such as your social insurance number and T4 slips. Other tax information forms from your employers should also be at hand so that you and the CRA can see how much you have earned and how much tax was deducted. Receipts for deductions must have been kept to help in reducing your income tax liability.

Preparing Tax Returns

This is the part where professional help is highly recommended, especially if you are not fond of numbers. The CRA's tax package will provide detailed information and instructions on calculating your tax owing and filling out the forms.

Actual Filing of Your Tax Returns

The CRA offers a variety of ways with which you can file your tax returns, such as by mail, by hiring a third party, or through online means. You need to make sure that you choose the method most suitable for your needs and with which you are comfortable.

No matter what you choose, you must keep in mind to keep a copy of your tax return in a safe place, with the proper documents and calculations, so that should the CRA call you for a review or an audit, you will have the details at hand.

Using E-File

With the continued technological advancement in every aspect of society, it is no wonder that something as characteristically dry and tedious as filing taxes get on with the times as well. Now, filing your personal income tax return can be done through electronic filing (E-File), in which registered tax professionals electronically the document directly to the CRA.

E-Filing proves to be an exceptionally efficient way of filing tax returns. The returns are promptly received and verified, and as such refunds can often be issued within a couple of weeks of submitting your return. Additionally, the automated process also maintains the accuracy of the returns.

Can Everyone Use E-File?

Almost all Canadians are eligible to use this system; however, there are certain returns that cannot be filed this way, such as returns for tax-paying nonresidents and certain deemed residents, taxpayers who have an address outside Canada, and taxpayers who have to pay income tax to more than one territory or province.

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