Steps for Filing Your Sole Proprietor Taxes for the First Time with Toro Accounting

🙏 Thank you for trusting Toro Accounting with your personal sole proprietor tax return! We're here to make the process easy and efficient for you. Follow these steps to complete your tax filing with us:

1️⃣ Review and Sign the Engagement Agreement:

📌 Review and sign the engagement agreement to authorize us to handle your tax return::
👉 Engagement Agreement

2️⃣ Authorize a Representative

📌 Sign the form so we can act as your representative with the CRA.
👉 Authorize a Representative

3️⃣ Complete the Personal Tax Worksheet

📌 Enter your information for the preparation of your personal tax return.
👉 Personal Tax Form

4️⃣ Complete the Sole Proprietor Tax Form

📌 Enter your business or professional activity details for your tax return preparation.
👉 Formulario Para Impuestos de Autónomo

📌 If you don’t have your bookkeeping records or a Profit and Loss statement for the fiscal year, you can:
✔ Use our sole proprietor accounting template, or
✔ Request a quote for us to prepare your bookkeeping for the fiscal year.

5️⃣ Make the Payment for Your Tax Return

📌 Once your forms are completed, proceed with the payment for your sole proprietor tax return.
👉 Pay for Your Tax Return

6️⃣ Schedule a Final Appointment with Us

📌 Once the previous steps are completed, book a meeting to review and finalize your tax return together.
👉 Schedule Your Tax Review Appointment

📌 Register for CRA MyAccount and Access More Benefits

Registering for CRA MyAccount allows you to:
✔ Check the status of your tax return and refunds.
✔ Access benefits and credits such as the GST/HST Credit and Carbon Tax Rebate.
✔ Manage your tax information and receive important notifications.

📌 Step-by-step guide to register:

👉 Register with CRA MyAccount