Kennedy Tax & Accounting Inc.

Name: Kennedy Tax & Accounting Inc.
Address: 2390 Eglinton Ave E Ste 205, Scarborough, ON M1K 2P5, Canada, Scarborough, ON, M1K 2P5
Telephone: (647) 827-2220

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About Kennedy Tax & Accounting Inc.

Kennedy Tax & Accounting Inc. is an accounting and tax services provider based in Toronto. Services include Bookkeeping, Personal Tax, Corporate Tax, Tax Preparation. Additional listed services include Tax Planning, Payroll, GST/HST, Financial Statements. Website-listed areas of focus include CRA Audit / Review. Service format information: In-person / physical location.

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Amenities

Free Parking

Public Washrooms

Free Consultation

Parking Available

Payment

Credit & Debit Cards

Mobile Payments

Frequently Asked Questions

01When are income tax returns due?

For individuals, on or before April 30 of the following year. For the self-employed, on or before June 15. For corporations, within six months after the end of the taxation year. For trusts, within 90 days after year end.

02What happens if I do not file by the due date?

You may face problems such as child benefit, GST/HST or Trillium benefit payments being stopped. You can still file after the due date, but if you have a balance owing you will have to pay penalty and interest.

03What penalties apply if I have a balance owing?

Generally a 5% penalty on the unpaid tax, plus 1% interest for each full month, to a maximum of 12 months.

04What documents do I need to file my tax return?

All T4, T4A, T4E, T4RSP, T5007, RC-62, T3, T5 and other income slips, rental or property tax receipts, and records of donations, medical expenses, childcare expenses, RRSP contributions or withdrawals under the Home Buyers' Plan, and interest paid on a student loan.

05What documents do I need if I am self-employed?

All bank statements, income slips and invoices or expense receipts related to the business. If you use a car for business, keep records of fuel, repairs and maintenance, lease payments where applicable and other vehicle expenses.

06What records do I need if I have rental income?

Keep receipts and documents for all house-related expenses, including home insurance, mortgage interest, legal fees, management and administration fees for a condo, maintenance and repairs, property tax and utilities. Without rental income you still need the property tax receipt.

07How do I correct a mistake on a previous year's return?

You cannot refile that year. You have to submit a T1 adjustment to the Canada Revenue Agency by post, or the firm can prepare the adjustment and file it electronically.

08What happens if I do not submit corporate tax returns or pay taxes?

If a corporation owes tax and does not pay the balance, the Canada Revenue Agency may freeze the bank account, garnish receivables, place a lien on property, or take the matter to court.

09Can Kennedy Tax help if I am audited by the CRA?

Yes. For clients, the firm handles all questions from the Canada Revenue Agency and explains how the return was prepared. Non-clients can get up to 15 minutes of free audit help.

10Where is Kennedy Tax & Accounting Inc. located?

Kennedy Tax & Accounting Inc. is at 2390 Eglinton Ave E Ste 205, Scarborough, ON M1K 2P5, Canada.

11What is the phone number for Kennedy Tax & Accounting Inc.?

You can reach Kennedy Tax & Accounting Inc. on (647) 827-2220.

12What are the opening hours?

Monday 10:00-18:00; Tuesday 10:00-18:00; Wednesday 10:00-18:00; Thursday 10:00-18:00; Friday 10:00-18:00; Saturday 11:00-18:00. Closed on Sunday.

13Does Kennedy Tax & Accounting Inc. have a website?

Yes. Their website is https://kennedyaccounting.ca/.

14Is Kennedy Tax & Accounting Inc. on social media?

Yes - on Facebook, Instagram, LinkedIn and TikTok. The links are on this listing.

15What languages are spoken at Kennedy Tax & Accounting Inc.?

Staff speak Czech and English.