2025 Tax Prep Checklist | Dark Ops Management

All T4 slips. If you had a regular job, we genuinely cannot do a thing without theseT4A slips, all of them

A T4A covers income that isn't employment income: freelance or contract payments, scholarships, pension income, CERB/COVID benefits, and payments from corporations you own. If someone paid you without deducting taxes at source, there's probably a T4A.

T4E (employment insurance) and / or T4RSP (RRSP cashed out)T3 / T5 slips, interest and dividendsOld Age Security and CPP benefits: T4A-OAS, T4A-PRL-1 Employment and other incomeQC ONLY

Bring receipts for these. Your preparer needs to verify them

Union duesCharitable donationsPolitical contributions

Other things you may need

Notice of Assessment from last year's return (your CRA letter)RRSP slips. Official tax slips only, covering both the March to December and January to February contribution periodsFHSA contribution slipsA copy of last year's return, if we didn't prepare itRent or property taxes paid: address, landlord name, and amount for each propertyDigital news subscription expenses

CRA allows a credit of up to $500 a year for subscriptions to Canadian digital news outlets (Toronto Star, Globe and Mail, The Logic and so on). If you pay for online news, it's worth claiming.

Total instalment payments made to the CRA during the yearSOLE PROPT2200 signed by your employer, if claiming employment expensesDownload template · coming soon

Medical expense summary. Use our Medical Expense Sheet, not individual receiptsDownload sheet · coming soon

Pick any 365 day window that ends in 2025, not necessarily the calendar year. Choose the period where you spent the most. Not sure if something qualifies? Ask us and we will check it against the CRA's list.

Disability tax credit certificate for yourself or a dependentPersonal attendant or facility care expenses

Complete revenue listing for the yearSOLE PROPDownload template · coming soonFull expense breakdown. Your Income Statement (also called a Profit & Loss or P&L) from last year is the referenceSOLE PROPSample P&L · coming soon

Meals are only 50% deductible, so keep them separate from promotion and travel.

Interest expenses on business loans or your mortgage. The interest portion only, not the full paymentAny reimbursements you received for business expensesT777, work from home expensesDownload template · coming soonOther income not on any slip: tips, cash payments, side workSummary of Home Accessibility renovation expensesExams for professional certificationFinancial statements from any other businesses or partnerships you own

Capital Gains and Losses statement. Your broker can generate this for youT3, T5, T5008 and T5013 slips, only if already issued. If your T5 hasn't been issued yet, just tell us the total dividends you paid yourselfRental property income and expensesDownload template · coming soon

This applies if you are a landlord, meaning you own a property and rent it to tenants. You report the rent collected as income, and you can deduct related expenses like mortgage interest, property taxes, insurance, repairs and any utilities you pay.

Crypto. Calculate your realized gains and losses, or use an app to pull the reportForeign income and taxes paid abroadForeign property with a cost base over $100KSale of principal residenceRRSP deduction limit and any unused contribution room

Completed Childcare Expense SheetDownload sheet · coming soon

Social Insurance NumberDate of birthMajor life changes this year: marital status, new child, address change, anything significant

Your spouse or partner's net and taxable income amountsKnow which credits your partner has claimed: GST credit, Ontario tax credit, Disability Tax Credit, home office, dependents and so onNew to us? We'll need your partner's SIN and date of birthDate of birth for each childTuition transfer amount from spouse or child, and who's claiming itDecide who's claiming the Equivalent to Spouse deduction, if it applies

This is a credit you can claim if you're single, separated or divorced and you support a dependent who lives with you, like a child or a parent. Only one person in a household can claim it.

Support payments paid or received. Include your separation agreement if applicableMoving expense receipts

Moving expenses are only deductible if you moved for work or school, and your new home is at least 40km closer to the new job or school than your old one. Keep receipts for movers, travel and temporary accommodation.

Carry forward amounts are deductions or credits you didn't fully use in a previous year that can be applied to this year's return to reduce what you owe. Check your previous Notice of Assessment from the CRA, it lists what's available.

Tuition carry forward. Unused tuition credits from previous years of schoolLoss carry forward. Business or capital losses from previous years that can offset this year's incomeOther carry forwards: charitable donations, RRSP over-contributions and the like

T4 slips issued to all employees, including yourselfT4 Summary, the CRA summary of all T4s filed for the yearT5 slips, dividends paid to shareholders including yourself. Only if already issued. If not, just tell us the total dividend amountT5 Summary, the CRA summary of all T5s filed for the yearT4A slips, if the corporation paid contractors or freelancers $500 or moreROE (Record of Employment) for any employees who left during the yearPrior year T2 corporate tax return, if we didn't file itNotice of Assessment for the corporation's last filed returnCorporate tax instalments paid to the CRA during the year

Year-end financial statements: Income Statement (Profit & Loss) and Balance SheetGeneral ledger, or access to your accounting software (QuickBooks, Xero, Wave and so on). We can pull what we need directly if you share accessBank and credit card statements for the fiscal year, if they're not already in your bookkeeping softwareShareholder loan account balance at year-endDetails of any assets bought or disposed of during the year, for capital cost allowanceAny outstanding loans to or from the corporationPayroll remittance records, confirming source deductions went to the CRA on time

HST / GST returns filed for the year, with confirmation numbersTotal HST / GST collected and input tax credits (ITCs) claimedConfirmation of any HST / GST payments made to the CRA, or refunds received

Names, SINs and percentage ownership for all shareholdersTotal salary and / or dividends paid to each shareholder during the yearAny personal expenses run through the corporation. These need to be identified and accounted forMinutes of any shareholder or director meetings held during the year, if applicableCorporate bank account details and signing authority records

Tax prep checklist. personal, sole prop and corporate.

Before you startput something on.

Check off everythingthat applies to you.

The corporate halfif it applies to you.

Rather we just did it?