I am trying to create a 2018 Income Tax return using Profile Tax Software application, will you be able to help me with it?
I need to know what forms I need to fill in and what are deductions I can file based on the information.
Name: Rob Fernandez
Date of birth: 1967-01-01
Work: Insurance Broker
Situation: His daughter and her husband were killed a car accident and their 13-year-old son Geo was blinded by the accident. They adopted Geo and Rob‘s wife Isa quit her part-time job to take care of him. Isa took care of her mother, Risa who also lives with them. Risa suffers from dementia and the family doctor has a signed letter stating that Risa is dependent on Rob because of her impairment. Risa does not meet to quality for Canadian Old Age Security
In addition to his salary, Rob also earns commissions. His employer requires him to have an office at home and signed the form T2200 each year to this effect.
January 2022, Isa had to spend three weeks in Estonia and during this time, Rob paid Nannies on call $5,000 for in-home help to take care of Geo will Isa was away.
During the year, Rob’s employer reimbursed $4,000 for meals and entertainment with clients, $3,500 for hotels and $6,000 for airline tickets. Rob also paid $800 for the care and feeding of Geo’s seeing eye dog. During the year, the couple made a donation of $5,000 and $1,000 respectively to the “Seeing Eye Dog Society.”
During the 2022 taxation year, Rob paid for the following medical expense for the following individuals:
| Name | Procedure | Amount |
| Rob | Dental | $500 |
| Rob | New Glasses | $1,200 |
| Rob | Prescriptions | $250 |
| Isa | Dental | $400 |
| Risa | Prescriptions | $800 |
| Geo | Dental | $700 |
Finally, Rob has a home office which is used exclusively for to earn income and approximately 1/5th of the house’s square footage is dedicated to the home office.
During the 2022 taxation year, Rob incurred the following expenses:
| Expense | Amount |
| Hydro | $3,000 |
| Insurance | $1,200 |
| Maintenance | $4,500 |
| Mortgage Interest | $7,000 |
| Mortgage Life Insurance | $600 |
| Property Taxes | $6,500 |
Here is more information:
Rob’s T4 slip from his employer (Insurance Inc.) has the following amounts:
| Box 14 $400,000 | Box 22 $120,000 |
| Box 16 $2,593.80 | Box 42 $95,000 |
| Box 18 $858.22 | Box 46 $1,000 |
Based on the provided information, Rob Fernandez will likely need to fill out the following forms:
T1 General – Income Tax and Benefit Return: This is the main form used to report your income, deductions, and tax credits.
T2200 – Declaration of Conditions of Employment: This form is used to report employment conditions, including the requirement for a home office. Since Rob’s employer requires him to have a home office, this form is necessary.
Home Office Expenses: Since Rob’s employer requires him to have a home office, he can claim deductions related to his home office expenses. This includes a portion of his home expenses such as hydro, insurance, maintenance, mortgage interest, mortgage life insurance, and property taxes. Since approximately 1/5th of the house’s square footage is dedicated to the home office, he can claim 1/5th of these expenses as business expenses.
Medical Expenses: Medical expenses can be claimed for various individuals, including Rob, Isa, Risa, and Geo. The eligible medical expenses include dental expenses, prescriptions, and new glasses. Make sure to keep all receipts and records for these expenses.
Donations: Rob and Isa made donations of $5,000 and $1,000 respectively to the “Seeing Eye Dog Society.” These donations can be claimed as charitable donations on their tax return.
Caregiver Amount: Rob can potentially claim the Caregiver Amount for taking care of his mother-in-law Risa, who has dementia and is dependent on him. A signed letter from the family doctor stating Risa’s dependency will be needed for this claim.
Support for Geo: Rob paid $5,000 for in-home help to take care of Geo while Isa was away. This might qualify as a child care expense.
Employment Expenses: Rob can claim certain employment expenses, including meals and entertainment expenses incurred while conducting business with clients. However, since his employer reimbursed him for these expenses, he should subtract the reimbursement amount from the total.
Income: You’ll need to enter the income details from Rob’s T4 slip, which includes information such as his employment income (Box 14), CPP contributions (Box 16), and EI premiums (Box 18).
Please note that the information provided is a general guideline and you should consult with a tax professional or use tax software to ensure accuracy and compliance with the Canadian tax regulations. The Profile Tax Software application should guide you through entering the relevant information into the appropriate sections of the required forms. It’s recommended to keep all receipts and documentation as evidence for any deductions or credits claimed.
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