{"id":6168,"date":"2019-11-21T12:03:42","date_gmt":"2019-11-21T12:03:42","guid":{"rendered":"http:\/\/consulting.stylemixthemes.com\/demo\/?page_id=6168"},"modified":"2024-01-07T03:32:01","modified_gmt":"2024-01-07T03:32:01","slug":"faq","status":"publish","type":"page","link":"http:\/\/profaccounting.ca\/?page_id=6168","title":{"rendered":"FAQ"},"content":{"rendered":"<div class=\"wpb-content-wrapper\"><p>[vc_row][vc_column][vc_custom_heading source=&#8221;post_title&#8221; use_theme_fonts=&#8221;yes&#8221;][\/vc_column][\/vc_row][vc_row][vc_column offset=&#8221;vc_col-lg-8 vc_col-md-8&#8243;][vc_tta_accordion c_position=&#8221;right&#8221; active_section=&#8221;1&#8243;][vc_tta_section title=&#8221;How Long Does It Take to Process My Tax Return?&#8221; tab_id=&#8221;1574338169950-e0b9e6a6-2cc6&#8243;][vc_column_text]<\/p>\n<ul>\n<li><strong>E-filing<\/strong>: Generally, it takes about 10 business days for the issuance of a Notice of Assessment by the CRA once we file the tax return, provided all required information is given.<\/li>\n<li><strong>Paper Filing<\/strong>: If you opt for a paper-filed return, the processing time is usually 6 to 8 weeks.<\/li>\n<\/ul>\n<p>[\/vc_column_text][\/vc_tta_section][vc_tta_section title=&#8221;How to Handle Income Earned in Cash?&#8221; tab_id=&#8221;1574338209493-2bde497c-9fb4&#8243;][vc_column_text]<\/p>\n<ul>\n<li><strong>Mandatory Reporting<\/strong>: All forms of income, including cash earnings, must be reported on your annual income tax return.<\/li>\n<li><strong>Consequences of Non-Reporting<\/strong>: Not reporting cash income is considered tax evasion, leading to serious consequences, including personal, legal, professional, and financial repercussions.<\/li>\n<li><strong>Requirements for Cash Income<\/strong>:\n<ul>\n<li>Report all income, regardless of its form.<\/li>\n<li>If you are a GST\/HST registrant, report and remit GST\/HST.<\/li>\n<li>File an income tax return.<\/li>\n<li>File third-party reporting slips for subcontractors.<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<p>[\/vc_column_text][\/vc_tta_section][vc_tta_section title=&#8221;Can I Claim Child Support Payments Received?&#8221; tab_id=&#8221;1574338208492-e38519b2-252c&#8221;][vc_column_text]<\/p>\n<ul>\n<li><strong>Current Tax Rules<\/strong>: Under existing tax regulations, the parent receiving child support does not include these payments as income. Similarly, the parent paying child support cannot claim these payments as a deduction.<\/li>\n<\/ul>\n<p>[\/vc_column_text][\/vc_tta_section][vc_tta_section title=&#8221;What Are Your Charges?&#8221; tab_id=&#8221;1574338207987-d1d0ac2b-e38b&#8221;][vc_column_text]<\/p>\n<ul>\n<li><strong>Fair Price Policy<\/strong>: Our pricing is based on understanding your specific needs. We quote a price based on the required services and the associated workload.<\/li>\n<\/ul>\n<p>[\/vc_column_text][\/vc_tta_section][\/vc_tta_accordion][\/vc_column][vc_column css=&#8221;.vc_custom_1576238094836{padding-right: 30px !important;padding-left: 30px !important;}&#8221; offset=&#8221;vc_col-lg-4 vc_col-md-4&#8243;][vc_row_inner el_class=&#8221;third_bg_color&#8221;][vc_column_inner el_class=&#8221;third_bg_color&#8221; css=&#8221;.vc_custom_1574398098802{padding-top: 40px !important;padding-right: 40px !important;padding-bottom: 40px !important;padding-left: 40px !important;}&#8221;][vc_custom_heading stripe_pos=&#8221;hide&#8221; text=&#8221;HOW CAN WE<br \/>\nHELP YOU?&#8221; font_container=&#8221;tag:h4|text_align:left&#8221; use_theme_fonts=&#8221;yes&#8221; el_class=&#8221;remove_padding&#8221;][vc_column_text css=&#8221;.vc_custom_1704598314507{margin-bottom: 20px !important;}&#8221;][\/vc_column_text][vc_btn title=&#8221;Contacts&#8221; style=&#8221;flat&#8221; color=&#8221;white&#8221; i_icon_fontawesome=&#8221;stm-lnr-phone&#8221; add_icon=&#8221;true&#8221; link=&#8221;url:http%3A%2F%2Fprofaccounting.ca.previewmysite.com%2F%3Fpage_id%3D11|title:Contact&#8221;][\/vc_column_inner][\/vc_row_inner][\/vc_column][\/vc_row]<\/p>\n<\/div>","protected":false},"excerpt":{"rendered":"<p>[vc_row][vc_column][vc_custom_heading source=&#8221;post_title&#8221; use_theme_fonts=&#8221;yes&#8221;][\/vc_column][\/vc_row][vc_row][vc_column offset=&#8221;vc_col-lg-8 vc_col-md-8&#8243;][vc_tta_accordion c_position=&#8221;right&#8221; active_section=&#8221;1&#8243;][vc_tta_section title=&#8221;How Long Does It Take to Process My Tax Return?&#8221; tab_id=&#8221;1574338169950-e0b9e6a6-2cc6&#8243;][vc_column_text] E-filing: Generally, it takes about 10 business days for the issuance of a Notice of Assessment by the CRA once we file the tax return, provided all required information is given. Paper Filing: If you opt for<\/p>\n","protected":false},"author":1,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"class_list":["post-6168","page","type-page","status-publish","hentry"],"aioseo_notices":[],"_links":{"self":[{"href":"http:\/\/profaccounting.ca\/index.php?rest_route=\/wp\/v2\/pages\/6168","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/profaccounting.ca\/index.php?rest_route=\/wp\/v2\/pages"}],"about":[{"href":"http:\/\/profaccounting.ca\/index.php?rest_route=\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"http:\/\/profaccounting.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/profaccounting.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=6168"}],"version-history":[{"count":4,"href":"http:\/\/profaccounting.ca\/index.php?rest_route=\/wp\/v2\/pages\/6168\/revisions"}],"predecessor-version":[{"id":7230,"href":"http:\/\/profaccounting.ca\/index.php?rest_route=\/wp\/v2\/pages\/6168\/revisions\/7230"}],"wp:attachment":[{"href":"http:\/\/profaccounting.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=6168"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}