Document Checklist - Raj Katlaria, CPA

In this section we have compiled a Document Checklist that will assist you in gathering information in preparing for the tax season.Please check back for the most recent and updated list.

Personal Tax Document Checklist – Where Applicable

We want to ensure that we maximize your refund and that you pay only the minimum tax you are legally entitled to. It is always helpful to have all the information you will need close at hand before you visit out office. The following document checklists should help you to get organized.

Slips

T4, Statement of Remuneration Paid
T4A, Statement of Pension, Retirement, Annuity, and Other Income
T4A(OAS), Statement of Old Age Security
T4A(P), Statement of Canada Pension Plan Benefits
Statement of Employment Insurance
T2202A,, Tuition/Education Receipt
T4RIF, Statement of Income from a
Registered Retirement Income Fund
T4RSP, Statement of RRSP Income
T5, Statement of Investment Income
Statement of Benefits
Statement of Securities Transactions
T3, Statement of Trust Income Allocations and Designations
Universal Child Care Benefit Statement
RC210, Working Income Tax Benefit

Advance Payments Statement
All other information slips

Receipts

Support for a child, spouse or common-law partner
Professional or union dues
RRSP contribution slip
Moving expenses
Tool expenses (Tradespersons)
Child care expenses
Adoption expenses
Medical expenses
Transit pass receipts
Senior Renovation Receipts
Charitable donations
Political contributions
Children’s arts and sports programs
Interest paid on student loans
Carrying charges and interest expenses
Office-in-home expenses
Exams for professional certification

Other Documentation

Rental income and expense records
Notice of Assessment/Reassessment
Declaration of conditions of employment (T2200)
Canada Revenue Agency correspondence
Automobile /Travel logbook and expenses
Sale or deemed sale of stock, bonds or real estate
Northern residents deductions
Disability Tax Credit Certificate
Business, farm o fishing income/expenses
Volunteer Firefighters certification
Search and Rescue volunteers certification
Proof of custody
Separation agreement
Void Cheque

Corporate Year End Document Checklist – Where Applicable

Balance sheet & income statement
Trial balance
General ledger
Bank statement & reconciliation
Accounts receivable
Inventory
Prepaid expenses or deposits
Investments
Asset additions/disposals & related documents
Accounts payable
WCB payable
HST/GST payable
Payroll deductions payable
Vacation payable
Credit card payable & reconciliation
Corporate tax statement of account
Loan balances
Intercompany loan(s) & reconciliation(s)

Self Employed Document Checklist – Where Applicable

Quality at Source

Inventory Values -Purchase and closing values-Does each expense category have correct values:
Advertising -newspaper, radio, marketing material
Meals and Entertainment – 50% vs. 100% amounts
Bad Debts
Insurance -Business auto, home, or liability
Interest – loans, bank account, payables
Business Tax -Municipal licence, Chamber of Commerce
Office Expenses – supplies, equipment
Private Health Insurance Premiums – Business I
Supplies – cleaning, incidental
Professional Fees -accounting, legal, consultants
Management & Admin Fees
Rent -Consider a purchase for long-term
Maintenance & Repairs -Machinery & Building
Salaries Wages & Benefits -T4 Slip Preparation
Payments to Sub-contractors – T5018 Preparation
Record Books -Business Tax, Auto, and Cash Payments
Property Taxes
Travel -Sales, Deliveries, Purchasing
Other:
Convention Expenses- Two per year
Telephone & Utilities – Cell Phone Used for Business
Fuel Costs- Equipment, Tools & Machinery
Delivery, Freight & Express
Automobile Expenses -Deliveries, Administration
Insurance Protection
Business Use of Personal Residence

Carry Forwards

CCA -Values, and that the class still has assets
Non-Capital Losses -Current and Past
Opening Inventory -Entry and valuation
Business Use of Personal Residence
Capital Losses

Quality Review

Data Entry -Complete and Accurate
Reasonable Variation Year-to-Year
Reasonable Allocation of Expenses
Unique Expenditure for the Business
Major Events -Past or future

Capital Assets

New Purchase
Strategic Liquidation
Leasing Options
Eligible Capital Property
Other:

Pro-Active Planning

Reasonable wages for family members
Private Health Insurance Premiums – Business I
Non-taxable benefit for employees
Other:

Organizational Planning

Banking -Operating account, Credit Card, Line of Credit
Record Keeping -Collection and retention
Record Books -Business Tax, Auto, and Cash Payments
Accounting Software
Other:

Other Considerations

Operating Name Registration
Business License
Insurance Protection
Employment Insurance for S.E.T.
Workers Compensation
Business Planning
GST
Other Sales taxes
Federal or Provincial Grants
Other:

Strategic Spending

Advertising -Branded Merchandise
Training -Self or Employees
Technology -Administrative & Process Improvement
R&M on Assets -Value preservation
Meals & Entertainment -Networking
Other:

Self-Employed Truckers Tax Planning Document Checklist

Quality at Source

Signed TL2, T2200,T777 if required

Does each expense category have correct values:

Advertising -newspaper, radio, marketing materials
Meals and Entertainment – 50% vs. 80% vs 100% amounts
Travel -Hotel/motel, parking, showers
Bridge and Highway Tolls, state access licences
Interest – truck loans, bank account, payables
Business Tax -Municipal licence, Chamber of Commerce
Office Expenses – supplies, equipment
Supplies – cleaning, safety equipment, gloves
Professional Fees -accounting, legal, drivers’ medicals
Automobile Expenses -Deliveries, Administration
Yard Rent – Tractor, trailers
Salaries Wages & Benefits -T4 Slip Preparation
Payments to Sub-contractors – T5018 Preparation
Telephone – Cell Phone Used for Business
Fuel Costs- Tractor, equipment
Maintenance & Repairs -Tractor, trailers
Insurance -Truck, other liability
Truck lease
Business Use of Personal Residence

Mortgage interest, rent

Property taxes

Utilities – hydro, heat, water, sewer, garbage

Home telephone, long distance only – Internet