COVID-19, CRA & Revenu Québec, Employment & Employees, Employment Insurance (EI), Tax News

Your taxes might be different this year, but they don’t have to be complicated!

Let me guess! Media seems to want to make you believe this a complicated process. Anyone can do their own taxes, it’s only as complicated as you choose to make. TurboTax software is easy to use and very friendly to ensure accurate information has been applied by an individual. You will be provided with a “Review” at the end just before you NETFILE to make sure you have entered all your income, allowable credits and deductions correctly.

The change from previous years is really not that complicated. Your tax slips will reflect your COVID relief payments, as well as your repayment, if any.

Please remember these changes are only for those that have received COVID related government assistance of sorts.

The main changes to the slips themselves are seen below:

T4: Salaried employees you will receive a T4 with box entries in either 57,58,59,or 60. Take Note: CRA has these boxes to reference if you worked during COVID lockdown, this will not reflect any changes to your tax return.

T4A: Self-Employed, Commissioned Sales Employees, you will receive a T4A boxes 197 to 204 entries.

For Québec Residents you will receive a Relevé – 1.

T4E: EI and repaid your benefitsT4E with amounts in boxes 14,17,27 & 30. This will indicate the amount that you have repaid to the CRA.

This is reflected in the government approved software you are using. The above screenshots are from our TurboTax software entries.

We have compile a list of GO TO information to guide you through doing your own taxes.

Below are just a few articles from TurboTax, and we have many more to offer:

All your COVID related information below:

However, if you still feel like you would rather have one of our tax experts take over and do it for you, they are standing by, ready and willing to assist. Have a look at the links provided below for more detailed information on all that TurboTax has to offer from DYI to DYI Assistance to our Full Service team of Tax Experts:

TurboTax, we’ve always got you covered!