www.liptonllp.com

February 2021

09
FEB
2021

Your 2020 T1 Income Tax Guide

The April 30, 2021 deadline to file your 2020 personal income tax return is quickly approaching. As a result of changes in tax laws and the ever-increasing complexity in preparing personal tax returns, please gather your required tax information (as outlined in the attached 2020 Personal Tax Checklist) and submit them to us no later than Thursday April 1, 2021.

Provided below is a link to everything you will need to allow us to prepare your 2020 T1 Income Tax Return.

Click Here to view our T1 Information Guide

Should you have any questions or concerns about anything pertaining to the preparation of your 2020 T1 Income Tax Return, please feel free to contact your Lipton advisor.

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09
FEB
2021

Filing Your 2020 US Tax Returns

The April 15, 2021 deadline to file your 2020 U.S. Form 1040 – U.S. Individual Income Tax Return is quickly approaching. However, if you reside outside the U.S. on April 15, 2021, the deadline to file your 2020 U.S. From 1040 is automatically extended to June 15, 2021.

Please note that all taxes owing must be paid by April 15, 2021 to avoid any interest and penalties from accruing regardless of your filing deadline.

 Due to changes in tax laws and the ever-increasing complexity in preparing personal tax returns, we encourage you to gather your required tax information as soon as possible.

Provided below is a link to everything you will need to allow us to prepare your 2020 1040 US Income Tax Return.

Click to view our 1040 Information Guide

Should you have any questions or concerns about anything pertaining to the preparation of your 2020 1040 Income Tax Return, please feel free to contact your Lipton advisor.

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09
FEB
2021

Sending us your 2020 T1 Information

As you are likely aware, Federal, Provincial and Municipal mandates have significantly limited our ability to meet in-person to collect your 2020 personal income tax information. While we recognize this as a lost opportunity to catch up with all of our valued clients, please rest assured that over the past year, Lipton has implemented a system to ensure that all our obligations to our clients will be met without any delay.

Navigating this new world has it’s challenges, but has allowed us to reexamine our workflow and develop new strategies to serve our clients in the most efficient manner possible, without sacrificing from the quality of work our clients have come to expect from us!
In continuation with our practices from last year, 

Lipton will be requesting that all of our clients send us their 2020 T1 Income Tax information in digital form.

So…. Let’s Get Digital!

Delivering your tax information to us digitally is a three-step process:

1. Assembling your tax information First, assemble all of the relevant information you need to send to your Lipton advisor. The Lipton T1 Checklist is your best guide to determine the information required.

2. Scanning your information Many of the documents required may already be in digital form, but for those that are not, you will need to scan them. Your mobile phone or iPad camera, along with a downloadable app can easily do the job of a traditional scanner. There are many apps to choose from. Our preferred app (which happens to be free) is:

Microsoft Office Lens
For Apple Devices
For Android Devices

Install this app on your device and give it a try. You will be an expert in no time!

3. Uploading your tax Information To upload your documents, please use our Secure File Portal. Our portal is secure and easy to use. Simply follow the onscreen prompts and you will be on your way! Encountering an issue? We are here to help!  Send an email with any questions to our Senior Manager of IT & Operations – Bryan Walderman and he will be happy to assist.

Once uploaded, our IT department will direct the information to your Lipton advisor and we will send you an email confirming that we have successfully received your files.

If for some reason you are unable to use our digital process, please feel free to drop your package off at our front desk with your Lipton advisor’s name clearly indicated. We will still ensure that your returns are prepared before the filing deadline.

Please keep safe and healthy through these difficult times, and always be assured that the entire Lipton team is here to fully look after your needs.
If you have any questions, please contact your Lipton advisor.
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