Streamline Your 2024 T4 Process with Expert Accountants at Cross & Company

January 29, 2024
As the tax season approaches, businesses are getting ready for one of the most pivotal tasks of the year – the preparation of T4 slips. Ensuring these slips are accurate and issued on time is crucial for both employer compliance and employee satisfaction. At Cross & Company, a leading accounting firm serving Nanaimo, Ladysmith, Parksville, Qualicum, Port Alberni, Duncan, and Lake Cowichan, our CPA team is dedicated to streamlining your T4 filing process. With our expert services, we ensure a straightforward and stress-free experience, offering expert services to handle your T4 preparations efficiently.

Understanding T4s:

A T4 slip, essential for Canadian employers, identifies all of the remuneration paid by an employer to an employee during a calendar year. They are not just a legal requirement but also an essential document for your employees’ tax filings. Timely and accurate preparation of these slips is key to maintaining compliance with Canada Revenue Agency (CRA) regulations.

One crucial aspect of T4s is the inclusion of income tax deductions. The T4 reflects the amount of income tax already withheld by the employer from the employee’s income throughout the year. This information is vital for individuals when filing their personal income tax returns, as it indicates the amount of income tax already remitted on their behalf by the employer.

According to the Canada Revenue Agency (CRA), for most people, the 2023 T4 filing due date is February 29, 2024. This means you have to give your employee their T4 slip and file your T4 return with the CRA on or before the T4 filing due date.

Why Choose Cross & Company:

  • Expert Knowledge in Tax Services: Our team of skilled CPAs are well-versed in the latest tax laws and regulations. We ensure your T4s are up-to-date and compliant with the latest requirements.
  • Efficient Bookkeeping and Time-Saving: Understanding the importance of time in business, our services are designed to take the stress and complexities of T4 preparation and bookkeeping off your hands, allowing you to focus on your core business activities.
  • Tailored Services: Every business is unique, and we understand the importance of customized solutions. At Cross & Company, we offer personalized T4 solutions designed to meet the specific requirements of various industries such as Real Estate & Construction, Cannabis, Manufacturing & Distribution, Government, Healthcare & Social Care, Retail & Wholesale, Agriculture & Farming, Financial Services, Leisure & Hospitality, Professional Services, Natural Resources & Energy, & more.
  • Uncompromising Accuracy: Precision is essential in T4 filing for businesses. Our meticulous approach at Cross & Company ensures compliance and protects against costly mistakes. Avoiding common errors like miscalculations or incorrect employee details, we prioritize accuracy to prevent financial and compliance issues. Your peace of mind is our goal, and our T4 preparation is designed to be efficient, accurate, and error-free.

Simplify Your T4 Process with Cross & Company

Navigate this tax season confidently with the expertise of our CPA team. If you need T4 filing assistance, contact our team of accountants and bookkeepers at Cross & Company today. We look forward to hearing from you!