It’s that time of year again and taxes will be due before you know it.

It’s a rare breed that enjoys doing their taxes and even as an accountant I don’t look forward to it. I’ve found that if I break the job into smaller and more manageable tasks. It is easier to tackle the job for a couple reasons.

1. It’s easier to find smaller chunks of time in the week than 1 or 2 big blocks of time.
2. I can focus on the task at hand rather than become overwhelmed with all that needs to be done.

I break the job into 4 steps:

1. Gather and organize tax slips, previous years tax information and any other information required to file the tax return.
2. Complete the income portion of the tax return including RSP’s, child care deductions, self-employed income or rental properties.
3. Complete the expenses portion of the tax return including tax calculations (federal and provincial) and any balance owing or refund.
4. Review your tax return submission and file it.

Why wait? The sooner you submit them, the sooner you will receive your refund or avoid any penalties or fines for late submissions.