If this is your first time filing your taxes, welcome to the ride. Taxes sound scary, but if you have the right tools – it’s not as bad as some make it out to be. As you’ll have to do this many times in your life, it’s best to take it slow and not panic. The tax filing process usually happens between March-April every year with the deadline to file on April 30th. In Canada, the filing of your annual taxes is a self assessment process. This means that all individuals and businesses must inform the government about how much they’ve earned, what deductions and credits they are claiming, calculate their total tax bill, and how much they underpaid or overpaid for the year. Calculating these figures can be a daunting task if you don’t know how! Fortunately, the experts at Can-Am CPA Professional Corporation recognize this and have come up with a Beginner’s Guide to preparing for tax season. This guide is designed to help you figure out the ins and outs of filing your taxes, so read on to know what you need to do.

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