Frequently Asked Questions
What is the deadline for filing taxes?
The deadline for filing taxes in Canada is April 30th. However, if you are self-employed, the deadline is June 15th.
If you owe taxes, the Canada Revenue Agency (CRA) will charge interest on any unpaid amounts starting May 1st. Penalties may also apply if you fail to file your return on time.
What are the benefits of hiring Lynn Liu CPA Professional Corporation for your personal taxes?
There are many benefits of retaining us for your personal taxes. First, we can help you find all the deductions you qualify for, saving you a lot of money. Our team can also help you file your taxes correctly, so you don't have to worry about getting audited. Additionally, we provide tax advice, which can help you plan your finances better and minimize liabilities.
Do I need to report foreign income?
Yes, you are required to report any foreign income on your tax return.
Can I deduct my student loan interest payments?
Yes, you can deduct your student loan interest payments.
What should I do if I receive a notice from the Canada Revenue Agency?
If you receive a notice from the Canada Revenue Agency, you should contact us as soon as possible to deal on your behalf.