The income tax filing deadline is fast approaching, and many Torontonians that have filed online in previous years are turning to Hogg, Shain & Scheck Professional Corporation (www.hss-ca.com) for critical financial help. In light of busy schedules that leave taxpayers with barely enough time to prepare their tax returns, Hogg, Shain & Scheck are ensuring that their clients do not fall prey to costly penalties.
The penalty for a late filing is 5% of the total amount owing and 1% of such unpaid taxes times the number of months the return is not filed to a maximum of 12%. As the penalties accumulate, the outstanding amount can be overwhelming, which is why many more Canadians will seek assistance this year to make sure that they have filed their income tax returns before the April 30th deadline (June 15th for self-employed individuals) to avoid these costs. The balance of taxes is due April 30th in both cases to avoid interest.
In an effort to save the cost of accounting services in Toronto, some people will choose to prepare their taxes without any professional help, but this tactic often backfires. When preparing taxes on their own, Torontonians will need to determine which receipts are eligible for deductions and claims, and ensure that all income-related slips and other important documents are available at the time of filing.
Filing taxes without professional help can be a confusing and frustrating experience. As a result, many Canadian residents procrastinate when preparing their income tax returns, and end up with numerous errors and missed opportunities due to filing in a hurry in order to beat the deadline. Online tax filing programs that are meant to assist with the process of filing income tax returns promptly and properly may not yield the same lucrative results that an experienced chartered accountant team can produce.
In light of this, experienced accountants Hogg, Shain & Scheck are stepping in to provide reliable tax services for residents in the Greater Toronto Area and across southern Ontario. By tackling the most complex tax issues to the most straightforward filing needs, Hogg, Shain & Scheck are saving taxpayers money by preparing tax returns efficiently and effectively.
Company Contact Information
Hogg, Shain & Scheck Professional Corporation
Ed Scheck, FCA
2255 Sheppard Av E
North York, ON
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Original Source: Toronto Chartered Accountants Hogg, Shain & Scheck Provide a Profitable Alternative to Filing Income Tax Returns Online