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Payroll Source Deduction CRA AccountantThe 2016 tax year are coming to a close and the first major tax reporting in 2017 is T4 preparation, now is the time to balance your payroll source deductions.  You need to compare what you have paid to CRA against what your payroll system indicates.  There are many reasons why you have not paid enough during the year including, cash flow issues, payroll changes, and incorrect tax tables.  If this is the case you have until January 15th to bring the payments in line.  Your CPA should be able to calculate if you are short paid and bringing you in line.   If you do not have an accountant give us a call.

A good accountant is an invaluable resource.  MSH Accounting CPA can provide a wealth of knowledge and can help you make sense of your numbers. Contact Mark to get started on the right accounting path.

Related topics Taxes Revenue Canada.