CPP payments

[5 Little Monkeys]

My numbers are similar to Mickyc's. I had $16 000 as taxable income and I paid $1250 for CPP, $300 for EI and $800 for taxes for a grand total owing of $2350.

I agree with her, if you don't feel comfortable with your accountant, find a 2nd or 3rd opinion. I ended up going a different route after a big name company messed up my taxes. I was able to find an amazing lady who has retired from accounting and now does it out of her home for a fraction of the cost. She is very full and doesn't take any new clients so I am very thankful I was able to get in to her as she only does her select clientele now. My sister and brother in law were able to squeeze in just before she stopped taking clients last year. They used to do their own but said for the fee she charges they are going to stick with her as she is bang on but it's less stress for them. I really hope she does this for a few more years!!

I don't know much about taxes and such but your numbers seem really low to me unless you had huge deductions last year. If this is something that you are going to want to do long term, I would suggest finding someone you are comfortable with to do your taxes every year. I am able to email my accountant all year long to ask questions and she emails me and lets me know things I should be doing to save me money and things like that. It's worth the time to find someone who knows their stuff.