“Accounting is the language of business.” — Warren Buffett, CEO of Berkshire Hathaway
On a chilly afternoon in late February, I logged into Microsoft Teams from my downtown Burlington apartment to meet with Thuy Bourgeois, CPA and founder of Bourgeois Accounting. Despite being in the thick of tax season, Thuy graciously took time to share her insights on how Canadians can stay organized and stress-free as the April deadline approaches.
Every year, millions of Canadians feel the pressure as tax season ramps up. According to Statistics Canada, about 4% of Canadians file their taxes late and as many as 12% don’t file at all. In our conversation, Thuy explained why a little preparation can go a long way and why having a trusted accountant on your side can make all the difference.
Getting organized in early April
Allison: What should Canadians prioritize in early April to avoid a last-minute tax scramble?
Thuy Bourgeois: Everyone’s situation is a little bit different. But we personally have an income tax checklist that we send out to clients, usually by mid March to end of March, and that helps them organize, getting all the information they need, all the T slips, all the deductions, or credits. For example, childcare expenses, getting those receipts, because sometimes they don’t necessarily send it to you. You have to look for them.
Key personal documents still worth gathering
Allison: What common documents or slips can people still gather in early April for personal taxes?
Thuy: A lot of things that are big in recent years are investments. You can grab those from your platform. Banks should mail them out, but you may not always get them, especially for foreign investments. You have to request them. Anyone investing outside major Canadian banks has to be aware of those slips needed to calculate income. A lot of people don’t know they need to report that.
If you owe taxes and can’t pay in full
Allison: What tips do you have for setting aside money to pay owed taxes? What does the CRA offer for large sums?
Thuy: They have calculators online to estimate how much you owe.
Allison: Can you set up a payment plan?
Thuy: Contact the CRA to work out an installment plan. They’ll say how many payments and amounts. Call them first. Ideally, if you know you’ll have larger earnings in a period, set aside more for installments and pay them first. But people need funds to operate, so having that conversation is good. It’s better for you to call them than them calling you. They’re heavy on interest and penalties. People might get overwhelmed, but it’s better in the long run to call and say, “I know I owe this money,” because they want you to pay them. They’ll take any credits owed to you first, and they’re usually understanding but take time to process.
Allison: Any other tips?
Thuy: Be patient and document everything. Every time I call, it’s “We don’t have that on file,” so you say, “Here’s the reference number.” Things get lost easily. Don’t just trust they’ll document it – take personal responsibility.
Self-employed Canadians: the dual deadline dilemma
Allison: Self-employed Canadians get a June 15 filing extension but April 30 payment deadline. What should they do in early April?
Thuy: People think June 15 means pay by June 15, but if you owe, pay by April 30. Use online calculators to estimate income tax owed, pay that installment, then adjust when you file. That way you’re not dinged on penalties.
Small business owners and dual deadlines
Allison: Small business owners juggle personal (T1) and corporate (T2) taxes. What early-April checklists help align them?
Thuy: Most businesses have a December 31 year-end, where payments are due by March 31st, so planning should occur earlier – in November/December ideally, since T4/T5 slips are due February 28 (March 2 this year). By April, you’d have planned corporate taxes already. T5s can be for dividends; if you are incorporated and a shareholder this means you can issue yourself a T4, T5, or a combination of both. Reach out to your accountant to see if you qualify and what slips would be best for you overall.
Software vs. hiring an accountant
Allison: What are the benefits of an accountant versus DIY software?
Thuy: Find a good accountant. Right now we’re seeing more CRA audits than ever, so be careful expensing to the corporation with correct documentation. For software: Put everything in the cloud. Use Sage, QuickBooks, or receipt apps that photo-scan to QuickBooks. Make sure it’s saved and organized.
Allison: When does software make sense?
Thuy: Some clients say, “I only have 10 transactions a year, or 10 a month but they are the same transactions every month.” It’s not worth it then. But with hundreds of transactions, it makes sense. Use judgment and talk to the right person for guidance.
Avoiding audits and self-checking
Allison: With more audits lately, how can filers self-check? Common triggers like math errors or missing slips?
Thuy: The biggest audits last year were vehicle related and home office deductions; the CRA is more likely to question any expenses that could have a personal portion. That mileage log. Having a tool to log drives is incredibly useful. People wonder “is this work-related or personal?” CRA requires tracking personal vs. business km, and how it ties to business. People say, “I drove 15,000 km, this is business.” They want everything. I’ve seen audits denied: “You can’t tell us what these 5,000 km pertain to. How do we know it wasn’t personal?” Don’t think they won’t check.
New and cancelled credits or programs
Allison: Any new credits, incentives, or cancelled programs for this year that filers might miss?
Thuy: They publish on their site [CRA], but people don’t read it – the wording and volume may be overwhelming. There’s a summary page of what’s new, easier than technical details. Off the top: 2025 one-time disability benefit – you apply separately, not on tax return. I’ve told clients to apply; they received thousands.
Tip: When gathering receipts, check the CRA site for new/cancelled items – it changes what you collect and ask your accountant – as they know what applies to you and what doesn’t.
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As we wrapped up our conversation, I was struck by Thuy’s balance of practicality and empathy. Her advice blends structure with realism – meeting Canadians where they’re at as tax season ramps up. Whether you’re self-employed, a small business owner, or simply filing a return, Thuy’s message is clear: get organized, stay proactive, and ask for help when you need it.
After all, as Thuy reminds us, the CRA would much rather hear from you first than have to call you later.
Staff Shop Stamp of Approval
“We use Bourgeois Accounting for our taxes because Thuy combines integrity with insight. She is fair, honest, and meticulous, always paying attention to the nuances and details that others might overlook. Her pricing is transparent, so there are no surprises, and she consistently looks ahead to identify smart, efficient planning opportunities. It gives us confidence knowing our financials are handled with both precision and principle.” — Alison “Ali” Hernández, Staff Shop COO
Ready for Tax Help?
Feeling the pressure of missing slips, potential audits, or overlooked credits? Bourgeois Accounting can help you make sense of it all. As a fully remote firm, they work with clients across Canada, offering flexible virtual meetings on the platform of your choice. Connect with CPA Thuy Bourgeois and her team today to get organized, stay compliant, and make the most of your return before tax deadlines arrive.
“Numbers don’t lie. If you write down the wrong numbers, that doesn’t mean the numbers lied, it just means that you did.” -– Dave Ramsey
