CORPORATE TAXES
Corporate Tax Filing Made Simple
Navigating corporate tax regulations can be overwhelming. We simplify the process by offering seamless corporate tax return (T2) preparation services. Let us handle the paperwork, ensuring accurate and timely filing, so you can focus on growing your business.
Expert Corporate Tax Services for Small Businesses and Professionals
At our firm, we specialize in providing tailored corporate tax services designed to meet the unique needs of small businesses and sole proprietors. With our expert guidance, you can navigate the complexities of corporate taxes, maximize your profits, and make informed financial decisions. Our team is dedicated to ensuring a hassle-free experience, offering comprehensive services that go beyond traditional tax filing.
Tax Services Include:
Per Canada Revenue Agency, all corporations are required to file the T2 corporate tax return every year even if there was no activity in the corporation or taxes owing
Small Business Tax Deductions and Credits
Small business owners often miss out on valuable tax deductions and credits. Our thorough corporate tax preparation identifies relevant expenses and deductions, ensuring you claim all eligible benefits. We leave no stone unturned, maximizing your tax savings.
Expert Advisory on Profit Maximization
Stay ahead with our timely financial reporting services. Each month, receive clear and accurate Income Statements and Balance Sheets, enabling you to monitor your financial health and make data-driven decisions for your business.
Proactive Support for Inactive Corporations
Even if your corporation is inactive, tax obligations exist. We provide proactive support for inactive corporations, ensuring you meet filing requirements, maintain compliance, and avoid penalties.
Frequently Asked Tax Questions
When is the T2 Corporate Tax Return Due?
The T2 return is filing deadline is 6 months after the year end of your company. However, if there are any taxes due, payment must be made within 3 months of your company's year end. If these deadlines are missed and you have taxes owing, then you may be subject to penalties,.
We ensure timely corporate tax filing within six months after the end of each tax year, aligning with the corporation's fiscal period. If the tax year concludes on the last day of the month, returns are filed by the last day of the sixth month afterward. If the tax year doesn't end on the last day of the month, the return is filed by the same day of the sixth month. Corporate income tax payments, if owed, must be settled within three months (90 days) after the tax year concludes.
Do I have to file a T2 Corporate Tax Return if my company had no activity?
Yes, according to the Canada Revenue Agency (CRA), all resident corporations (except crown corporations and resident charities) have to file a corporate income tax (T2) return every tax year, even if there is no tax payable. This requirement applies even if your company had no activity during the tax year. Filing a T2 Corporate Tax Return is mandatory for all resident corporations to maintain compliance with tax regulations.
What information is included in a Corporate Tax Return?
A corporate tax return, typically known as the T2 return in Canada, is a comprehensive document that provides a detailed overview of a corporation's financial activity during the tax year. Our experts possess the knowledge and proficiency to navigate the intricate aspects of the Canadian tax system, ensuring the precision of your tax returns.
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Book a call or email us using the contact form below and get started on your Corporate Taxes
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