Rental Income T1 & T776 Tax Preparation & Filing

Unsure about what gross rents, co-owners, and partners are?

Stuck on what expenses are eligible claims?

Not sure about capital cost allowance (CCA)?

Don’t like thinking about the CRA?

If you answered “Yes”, we are here to help.

Let us handle the tax preparation and filing, so that you can focus on the more important tasks and we can work together to grow your business.

Beating Those T1 Tax Filing Deadlines

G’day! I’m Jason

It’s that time of the year again, and no, we don’t mean the holidays.

T1’s are already stressful. Just have a look at one.

Woops! Those are just the rules you need to remember when filing it…

I haven’t mentioned the additional 1000+ worksheets and schedules yet.

What about if you have rental income from a rental property, or a few rental properties? Now you have to do this T776 too.

All of this may take you 10+ hours to fill out using free software. Let’s face it, your time is more valuable and you’ve probably spent hours dealing with your rental property, and you don’t need the headache.

Fix My Books has your back. Don’t waste another moment dealing with this, let us file your taxes for you, professionally and on-time.

People Love to Work with Us!

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  • “I found Fix my Books during a challenging time in my personal and professional life when I had a backlog of personal and business tax filings with an unknown liability ahead of me. Jason worked with me over months, giving sound advice and deep expertise until we were fully caught up. Jason, thank you for shepherding me through this. I had the good fortune to witness and benefit from your technical know-how and your character through the process. You have my gratitude, trust and admiration. You have my business, no doubt. I wholeheartedly recommend you, and Fix my Books to anyone in the market for solid business partnership and advice.”

    — Ayesha, Public Speaker, Business Coach & Author

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  • “Jason was a pleasure to work with right from the beginning. I've had issues with previous accountants that left me to fend for myself when things got tricky. He explained my situation very well and came up with solutions quickly.”

    — Roberto, Medical Device Engineer

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  • “Fix My Books made it so easy for me come tax time. They took the time to understand my situation and were extremely efficient and helpful throughout the whole process.”

    — Peter, Major League Head Coach

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  • “I recently had the pleasure of working with Jason for my personal taxes, and cannot recommend him and Fix My Books highly enough. From start to finish, the experience was exceptional – Jason truly went above and beyond to ensure everything was completed quickly and with great attention to detail.”

    — Morgan, Therapist

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  • “I'm very satisfied with the service. Very easy to communicate and professional approach! I like that all documents are stored on a portal and there is option for a chat, so I could ask all questions fast and asynchronously.”

    — Alexandra, Concept Artist & New Immigrant to Canada

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  • “I've been working with Arielle and Jason for over a year for my bookkeeping and my taxes, and they're absolutely the best. It's so nice having two incredible people working on my business finances behind the scenes as they never leave me anything to worry about! I also love the use of ClientHub because it makes communication and getting things done so easy. The speed and efficiency with which they do things always blows me away. So happy to be working with Fix My Books!”

    — Sarah, Business Software Consultant

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  • “I received superb service from Jason. As someone with a non-standard immigration situation (which I believed to be quite unique: having the same U.S. contract before and after immigration with non-stop payments), I had a lot of questions. Jason was extremely helpful in answering all of them, advised me on my tax reporting classification, as well as provided suggestions on how to structure/register my business in the future. His communication is proactive, with same-day responses. The portal is convenient for organizing everything. Thanks to his help, my first tax return in Canada was effortless. Highly recommend!”

    — Sergei, Software Engineer & New Immigrant

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  • “I worked with Jason on my personal and business taxes this year - he was so proactive, clear, and responsive. It couldn't have gone more smoothly. Highly recommend Fix My Books at tax time!”

    — Amara, Social Advocacy Management Consultant

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How Does it Work?

  • First, we will get to know you and your situation via an initial Zoom meeting.

    We want to know your issues so that we can know how this will affect your taxes.

    Try downloading the free checklist below which has a list of documents we will need from you.

  • Once you are onboarded into our Client Portal, you can upload documents specific to your case and we begin preparing your tax return.

  • Once completed, we will send your draft return through to you, with a custom video explaining each aspect of the tax return.

    You can verify what has been entered at your convenience, and once you’ve signed off on your return we can e-file it for you.

  • We aren’t like other firms. We like to keep it simple for individuals and business owners, like yourself.

    We use the latest tech in the accounting industry to streamline your taxes and the financial side of your business.

    We handle the headaches so that you don’t have to.

    Let us help you Fix Your Taxes today.

Rental Income T776 Services

Gross Rental Income

If it’s one rental property, or several, there is a lot to stay on top of.

This is where we step in and help make sure you are capture all income from all properties.

Co-Owners

Whether you own the property alone, or with others, making sure that owners have the correct income and. expenses attributed to them can be a nightmare.

Don’t worry, we are here to help!

Advertising Expenses

Are you unsure of what constitutes advertising your rental property, and what can be claimed?

Relax, this is a very common problem with many landlords, let us handle it!

Subcontractors & Employees

If you’ve had to hire subcontractors or needed to pay employee wages, you may have T4, T4A and T5018 filing requirements.

We can help make sure you are compliant!

Property Taxes

Property taxes incurred whilst the property was available to rent can be expensed, but not while it was off-market.

We can help make sure you are claiming the taxes.

Capital Cost Allowance

Did you purchase a capital asset, or make depreciable improvements, or additions, to a property and unsure how to depreciate them?

Fix My Books will make sure your CCA is done right.

Repair & Maintenance Expenses

Many landlords need to do repairs and maintenance to their properties but are unsure of what this encompasses.

Let Fix My Books sort through the paperwork.

Motor Vehicle Expenses

If you are using a motor vehicle for your rental property, are you keeping track of your mileage using a mileage log?

Make sure your claim is done right, let us handle it.

Interest & Bank Charges

Claiming your interest on your mortgage as well as bank charges can be more complicated than you think due to several caveats.

We can make sure you are filing the right claim.

Insurance Expenses

Sometimes insurance expenses are not so clear cut and you may only be able to deduct a portion of the premium.

Let us deal with the messy stuff!

Travel Expenses

Some travel expenses for your rental property are deductible, however there are a lot that are not.

This can be complicated to figure out if you are not up to speed, so let Fix My Books help!

Other Expenses

Whether its office expenses, management fees, professional fees, or several other types of expenses you may incur while managing your rental property…

Let Fix My Books do the heavy lifting!

Need Additional Help?

Individual T1 Services

All of Your T Slips

Too many T slips that you don’t know what to do with?

Don’t worry, we can prepare and file these for you. From T3’s and T5’s to T4’s and T4A’s all the way to T4RIF’s and T4RSP’s.

Investment Income & Capital Gain

T3’s, T5’s, T5008’s, Adjusted Cost Base, carrying charges and Schedule 3’s!

These can be tricky and time consuming, especially if you have been actively trading. We’ve got you covered!

Foreign Asset & Income Reporting

If you held specified foreign property, at any time in the year, valued at more than $100,000, you will be required to report this on a T1135.

The penalties are steep, so let us help!

RRSP Contributions

Don’t know your RRSP deduction limit and finding the Schedule 7 difficult? Unsure whether you should contribute or divert to a TFSA?

We can help you navigate this decision.

Over-contributions (RRSP TFSA)

Did you accidentally put too much into your registered account like a RRSP or TFSA? Unsure on how to complete a RC243 or T1-OVP?

Leave it to us!

Principal Residence Reporting

Did you sell your principal residence during the tax year?

We will make sure you are eligible for the principal residence exemption and report your T2091 correctly.

Employment Expenses

Have you received a T2200 from your employer and are now stuck on how to complete a T777?

This can be a confusing highly reviewed part of your tax return. Let us work out what you can claim!

Medical Expenses

Did you have a lot of medical expenses in the last year, and are unsure of what can and cannot be claimed?

Let us work through the receipts while you focus on getting better.

Moving Expenses

Have you moved to be closer to your work and not sure of what you can and cannot claim?

Let us do the heavy lifting!

Child Related Income & Expenses

Alimony, support payments, adoption related expenses, and child care expenses are confusing.

There could be many deductions that may be claimable on your T1. Let us do the paperwork!

Spousal Transfers

Confused on how to transfer an unused age, disability, or education amount from your partner?

Let us be the third wheel with your Schedule 2!

Eligible Dependant Claims

Unsure if the person you care for is an Eligible Dependant?

We can help make sure you are making the right claim!

Tuition Credits & Student Loans

Unsure of how to claim your T2202 on a Schedule 11? Or are you uncertain if your student loan interest is eligible?

Don’t worry, let us take this off your back.

Charitable Donations & Gifts

Have you made some donations in the year, or perhaps you donated some eligible property?

There is no need for you to give up more of your time in trying to work out the Schedule 9, we are here to help!

Need Additional Help?

T1 for New Immigrants

If you are new to Canada and are stuck on how to file your T1 tax return, take a break! Fix My Books has you covered!

T2125 for Sole Proprietors

If you are a Sole Proprietor with self-employment business income and expenses, Fix My Books is here to help.

T2125 for Partnerships

If you have a Partnership with less than $2 million in Revenue, and $5 million in assets, check out the link below for help.

 What You Can Expect From Us

Timely Response

We reply to your messages, emails and phone calls within the 24-48 hours.

We take pride and distinguish ourselves from others with prompt responsiveness and professionalism.

You deserve trustworthy bookkeeping, tax preparation and business planning professionals who will answer your questions, phone calls, and emails.

We do not go M.I.A. when you need us most!

Year-Round Support

We are here to provide you with support.

There are always a lot of questions when it comes to the complicated world of finance and taxation. As a business owner, you are always on call, and so are we.

There’s no stopwatch on this relationship. If you have a question, or you need something, just ask!

We want you to grow your business because we succeed together.

Proactive Guidance

We provide proactive guidance to improve your bottom line and grow your business.

Every business owner wants to have a profitable journey, however your historical performance is the basis for your books, but it is not a predictor of future performance.

If we see a process that can increase revenue or improve operational efficiency and margins - we will help you.

Client Portal

All of our clients are granted access to our Client Portal at no charge.

Here you can securely send messages, files and tasks so that we can quickly and effectively manage your books and provide you support and guidance.

All Client Portal data is hosted via Google Cloud and Amazon Web Services via US-based data centers and 256-bit encryption.

We aim to be available to our clients securely and conveniently.

Document Management

We get rid of your receipt shoebox and replace it with Hubdoc - a digital file cabinet that makes storing and sorting receipts simple .

Don’t keep stuffing your receipts into a box in the corner where it can become lost, forgotten or illegible.

Those are your tax savings going to waste.

Every client receives a unique email address with Hubdoc where they can send their receipts to and we will do the rest. No more data entry, no more filing.

Data Security

We take your data and financial information seriously! Super seriously!

We maintain both on-site and off-site backups of your data so that it doesn’t get lost in the woodwork and your business is not left stranded.

Off-site backups use end-to-end encrypted solutions that meet ISO 27001, HIPAA, CCPA, GDPR and DPA compliance standards.

Even if you don’t choose us, ask your bookkeeper and accountant what they do to keep your data secure.

Let’s Fix Your Taxes!  

What We’ll Deliver

Completed T1 ready to file upon your approval.

Completed T776 ready to file upon your approval.

Completed Worksheets ready to file with your T1 and T776 (as required).

Completed Schedules ready to file with your T1 and T (as required).

EFILE & EFILE receipt of your T1 once approved

What You’ll Need

Everyone’s situation is different, so not all items on this list will pertain to your situation.

Don’t worry… we will go over everything in your free consultation.

Nearly there! Book your free consultation!