H&D Professional Services

H&D Professional Services Hello! We are Adam and Kyle, 2 friends who grew up playing soccer together that decided to pursue accounting.

Both of us graduated from Brock, and obtained our CPAs in 2022. We cannot wait to help you with your tax and business needs!

02/24/2025

‼️Important Update‼️: Extended Tax Deadlines for Ontario Residents

Attention Ontario taxpayers! The Canada Revenue Agency (CRA) has announced several extensions to tax filing deadlines for the 2024 tax year. Here’s what you need to know:

1. Personal Income Tax Returns:
• General Deadline: April 30, 2025, remains the deadline for most individuals to file their 2024 income tax and benefit returns and to pay any taxes owed. Filing and paying on time helps you avoid late-filing penalties and interest. 
• Self-Employed Individuals: If you or your spouse/common-law partner are self-employed, you have until June 16, 2025, to file your return. However, any taxes owed are still due by April 30, 2025. 

2. Taxpayers Reporting Capital Gains or Losses:
• Extended Deadline: Individuals reporting capital gains or losses for the 2024 tax year now have until June 2, 2025, to file their T1 tax returns without incurring penalties or interest. This extension accommodates recent changes to the capital gains inclusion rate. 

3. Trusts:
• Trusts with Capital Dispositions: Trusts reporting capital dispositions in 2024 have an extended filing deadline until May 1, 2025, for their T3 returns and slips, without facing late-filing penalties or interest. 
• Trusts without Capital Dispositions: The standard filing deadline of March 31, 2025, applies.

4. Information Returns for Businesses and Corporations:
• T4, T4A, and T5 Information Returns: Due to issues with the CRA’s electronic filing system, the deadline to file these returns has been extended to March 7, 2025, from the usual February 28 deadline. 
• T4PS and T5008 Information Returns: Affected by changes to the capital gains inclusion rate, these returns can now be filed until March 17, 2025, without late-filing penalties. 

5. Charitable Donations:
• Extended Contribution Deadline: To mitigate the impact of the Canada Post strike on the receipt of donations, the deadline for making charitable contributions eligible for the 2024 tax year has been extended to February 28, 2025. 

Staying informed about these changes ensures you meet your tax obligations and take advantage of any extensions available. For more detailed information, visit the Canada Revenue Agency’s official website.

⭐️If you have any questions about how these may impact you, please feel free to reach out!

01/19/2025

💡 Top Tax Tips to Simplify Your Filing This Year 💡

Getting ready for tax season? Here are a few things to gather for your accountant:

📂 Income Documents:
• T4: Employment income
• T5: Investment income
• T2202: Tuition amounts (students)

📂 Deduction Receipts:
• RRSP contributions
• Charitable donations
• Medical expenses

💰 Tax Credits to Check:
• Ontario Trillium Benefit
• Childcare expenses
• Climate Action Incentive

🔑 Pro Tip: If you have a side hustle, keep all invoices and expense records handy—it’ll help maximize your deductions!

👉 At H&D Professional Services, we make taxes simple and stress-free. Contact us today to see how we can help you get the most out of your return!

📞 DM us or comment below to book your consultation.

01/10/2025

🌟 Exciting News! 🌟
We’re thrilled to introduce H&D Professional Services **Pending Facebook name change approval**, your trusted partner for personal tax preparation in Niagara!

📌 Who We Are:
Founded by two dedicated professionals, H&D Professional Services specializes in making tax season stress-free for individuals and families.

📌 What We Offer:
✅ Expert personal tax preparation
✅ Personalized and reliable service
✅ Tailored advice to maximize your refunds

Let us take the stress out of tax season so you can focus on what matters most.

💼 Contact us today to learn how we can help!

📞 Message us directly or visit our page to get started.

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4354 Fifth Avenue
Niagara Falls, ON
L2E4R2

Opening Hours

Monday 6pm - 9pm
Wednesday 6pm - 9pm
Thursday 6pm - 9pm
Saturday 8am - 3pm
Sunday 1pm - 4pm

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