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January 19, 2022
Question

Is box 40 not on t4 anymore

  • January 19, 2022
  • 1 reply
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1 reply

January 19, 2022

Hello ksteele,

 

Glad to hear from you again! I trust that business is going well on your end. When it comes to managing T4s, QuickBooks is the go-to program as it offers a user-friendly platform that makes it easy to navigate. I'll be happy to point you in the right direction so you can get back to doing what you love. 

 

Box 40 on your T4 shows other taxable allowances and benefits. While this amount isn't reported on your tax return, it's included in your Box 14. I encourage you to check out this helpful article as it provides more info on how to: Prepare T4 slips and summary. 

 

Let me know if this info helps. I'll be a message away in case you need further assistance. Otherwise, feel free to reach back to me in the comments below. I've got your back.