All posts by Lisa Robideau

COVID-19 SOS Response and Update

There have been a few inquiries from our clients about recent announcements in relation to COVID-19.

We understand at times like this there will be a lot of information coming at once.  We want to make sure that when we give you the information it is accurate and up to date.

At this time, we do not have official word from the Canada Revenue Agency and Service Canada regarding how they intend to move forward given the diminished services and social interactions.  They have not confirmed if they intend to move forward with extended deadlines or what the procedures will be for applying for any benefits they do intend to implement.

As soon as we have any concrete information, we will distribute it to our clients, as well as post an update to our website and Facebook page.

At this time, SOS is still open for business.

SOS Bookkeeping & Taxes takes the concerns about COVID-19 your health and our staff’s health seriously. Therefore, we are taking measures to ensure a clean and safe environment for all.

If we have done your taxes in the past 2 years and you would like to submit your tax documents without stopping in the office there are a couple of options.

  1. There is a secure drop box on the NORTH wall (down the back alley) of our office on the west side of the door. Put your paperwork into a sealed envelope with your Name, telephone number and email,
  2. Email or phone us if you would like to submit documents electronically. We will be in contact with you with instructions on how to securely submit the documentation electronically, OR
  3. Phone and make an appointment to drop off the paperwork.

As we all work together through this difficult time SOS Bookkeeping & Taxes is remaining open and available to our clients.

Claimable Medical Expenses

DID YOU KNOW…

You can claim Medical Expenses on your personal income tax?

Medical Expenses can include:

  • Prescriptions
  • Chiropractic
  • Massage
  • Physiotherapy
  • Diabetic Care and Supplies
  • Dental
  • Vision Care
  • Medical Mileage over 40 km one way
  • Medical Meals over 80 km one way

If you haven’t kept your prescriptions receipts, ask the Pharmacies you attend to print out a statement for you and it will show what you’ve paid for the year.

For both medical mileage and meals, call Alberta Health Services at (780) 644-7551 and ask for a “Statement of Benefits Paid”. Once you’ve received it in the mail, write down where the doctor was located. We can then calculate the mileage from your home and use it to claim the medical mileage and meals using a simplified method without receipts.

For more details on what you can claim, click the link below.

Canada Revenue Agency Details of Medical Expenses

Old Age Security

When you’re 16 going on 17…

Or in this case, 64 going on 65, you may automatically be enrolled in both the Old Age Security program as well as the Guaranteed Income Supplement. A month after you turn 64, you’ll receive a letter either stating that you have been automatically enrolled or that you need to apply. Follow the link below to read more information.

https://www.canada.ca/en/services/benefits/publicpensions/cpp/old-age-security/apply.html

2020 Tax Season Hours and Important Dates

We are extending our hours on Wednesdays for March and April during the 2020 Tax Season!   Please see them below and drop off ALL your tax documents as soon as they become available.

Some important dates to remember this tax season are:

  • February 25 – Tentative open of Canada Revenue Agency e-file desk
  • February 28 – Last day for Employers to file T4s
  • March 1 – Last day to contribute to RRSP’s to be counted on your 2019 Tax Return
  • April 20 – Our GUARANTEED deadline
  • April 30 – Last day to file for all individuals.  Last day to file if you operated a business and have a balance owing
  • June 15 – Last day to file if you operated a business and will have NO balance owing

REMEMBER!  If you want us to GUARANTEE to have your taxes filed prior to April 30, 2020, you must bring us ALL of your documents by April 20, 2020.

Avoid Late Filing!

Do you know how the penalties work for late filing?  Click here for all the information.

Avoid late filing by bringing in all of your paperwork including T4s, RRSP documents, Charitable Donation receipts, and a letter from your employer stating what your union fees were and the exact union they were paid to.

Christmas Time Is Here

SOS will be closed December 24-27th, 2019, December 31st, 2019 and January 1st, 2020.

We will be open on December 30th, 2019 for all of our Payroll Clients and will reopen again on January 2nd, 2020 for all of your bookkeeping needs in the new year.

Have a Merry Christmas, Happy Holiday, and all the richest blessings of the season.

Tax Season Deadlines

Did you know… the deadline for businesses and financial institutions to file T4s with the CRA is past the date for when we can begin e-filing your personal income tax return? If you’re thinking we can get all of your information from the CRA before the middle of April, think again! The T4 deadline is the end of February and if T4s are paper-filed by an employer, it can take up to 6 months for the CRA to have them verified.

So! Bring in ALL your documents for us to review and add in to get the most accurate return for you.

Some important dates to remember this tax season are:

  • February 19 – Canada Revenue Agency e-file desk official opens
  • February 28 – Last day for Employers to file T4s
  • March 1 – Last day to contribute to RRSP’s to be counted on your Tax Return
  • April 20 – Our GUARANTEED deadline
  • April 30 – Last day to file for all individuals.  Last day to file if you operated a business and have a balance owing
  • June 15 – Last day to file if you operated a business and will have NO balance owing

REMEMBER!  If you want us to GUARANTEE to have your taxes filed prior to April 30, you must bring us ALL of your documents by April 20.