Deceased-Tax-Returns-Canada.com | Vancouver - Tax Tips & FAQ - funeral expenses, death benefit, employer pays-vacation, paying tax by instalments | Gary Booth Chartered Accountants Professional Corporation

Tax Tips & FAQ

Q: Can I deduct funeral expenses, probate fees, or fees to administer the estate?
A : No. These are personal expenses and cannot be deducted.

Q: Who reports a death benefit?
A: That depends on who received the death benefit. A death benefit is income of either the estate or the beneficiary that receives it.

Q: Who reports amounts an employer pays for vacation and unused sick leave?
A: Vacation pay is income of the deceased person and can be reported on a return for rights or things. Payment for unused sick leave is considered a death benefit and is income of the estate or beneficiary that receives it.

Q: If the deceased person was paying tax by installments, do I have to continue making those installment payments?
A: No. The only installments required are those that were due before the date of death but not paid.

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Gary Booth CA Professional Corp.
#406 - 555 Burnhamthorpe Rd. | Toronto, On | M9C 2Y3
Tel: 416-626-2727 | Fax: 416-621-7136
E-mail: deceasedreturns@garybooth.com

Deceased Tax Returns Canada is your number one place to have your tax returns prepared. We have extensive experience in all manner of personal, corporation and trust tax returns as well as GST and PST returns. Our professionals specialize in ensuring all your deductions are utilised so you pay the minimum tax allowable. Whether your information is current or in arrears we can help. Phone 416.626.2727 today for any tax return requirements.

We can solve your tax problems! We also offer a painless way to keep track of your bookkeeping and accounting requirements. Not only do we ensure that your business stays on top of its bookkeeping requirements we also become your partner to ensure you have the right information at the right time to make business decisions. Phone today for help in preparing any bookkeeping, financial statements or other financial requirements.