Qualified Employees
Our team consists of qualified and experienced accountants.
Free Consultations
Our acquaintance with a client always begins with a free consultation to find out possible solutions to their problems.
100% Guaranteed
All results that you get from us are 100% guaranteed to bring you to a whole new level of profitability and financial success.
Corporate Tax Returns
Filing Deadline
As per the Income Tax Act, all resident corporations must file a corporate income tax return each year. We will ensure that you file your return within six months after the end of each fiscal year. However, any amount of tax payable must be paid no later than three months after the fiscal year-end. For example, if your fiscal year end is June 30, 2019. The corporate return would have to be filed by December 31, 2019, but any taxes owed must be paid by September 30, 2019. Any outstanding payments will be subject to interest and penalties.Services
One of our primary services includes generating the General Index of Financial Information (GIFI). All corporations should prepare their financial statement using GIFI codes and reconcile between income for accounting purposes and income for tax purposes. GIFI statements must be submitted to Canada Revenue Agency (CRA) along with the corporate tax return. Please contact us as your corporate tax accountant to find out how to properly file your T2 returns.Other corporate tax services include filing nil returns for dormant or inactive corporations. Even if your corporation has no business activities for the current year, you will be required to file nil return to carry forward or back your losses. This tax planning ensures that you are paying lower taxes.
Tax Planning
In addition to corporate tax return service, below are some tax planning strategies you might need to consider for your incorporated businesses.If you do not need to withdraw a substantial portion of your earnings to fund your living expenses, planning your corporate taxes benefits you with the tax deferral strategy. As long as you leave the after-tax earnings in the corporation, you could enjoy the low corporate tax and invest the surplus incomes. You will be surprised by the compounding impact of low taxes. There is another benefit of which you may be able to take advantage. With tax planning strategy, you might be able to split the corporate income between your family members. Hence, you and your family can use unused lower marginal tax rates, commonly known as dividend sprinkle. Dividend sprinkling requires excellent care and attention.
If you need a supplemental income to finance your retirement, corporate tax planning will make sense to you. With a proper tax planning strategy, you can choose a type and amount of pension income you receive in retirement. For instance, you can set up an Individual Pension Plan within your corporation and receive a pension in your retirement. (for more information, please refer to the Incorporation section). If you prefer relying on the government, you may increase Canada Pension Plan contributions. This election does not apply to a sole proprietor. One of the benefits that corporate tax planning could provide you is a succession plan. If you have a family member who is interested in taking over your business, you can transfer your shares and claim the Lifetime Capital Gain Exemption, resulting in substantial tax savings. Such that your children can retain more inheritance.
Client Benefits
CUSTOMER SERVICE GUARANTEE
When you retain a Chartered Professional Accountant, you expect them not only to provide tax and accounting expertise but also to get your questions answered promptly. We guarantee that all enquiries will be responded to in a clear and friendly manner - without delay.
VALUABLE EXPERIENCE
We have over a decade of tax and accounting experience in our firm, across various industries. As our valued client, you will have the opportunity to leverage all of our knowledge and expertise to suit your needs.
ALWAYS ON TIME
We all know that deadlines are critical for your CRA filings. We also know that penalties and interest can be quite substantial when deadlines are missed. Therefore, we guarantee that we always deliver our tax services on-time while maintaining the quality of service.
Services
Corporate Tax
We offer corporate tax return (T2) preparation, using innovative tax planning to ensure taxes are minimized for our corporate tax clients.
Financial Statements
We understand that you need more than financial statements and tax preparation service to operate your business. You will enjoy the benefit of access to financial advisory services.
Personal Tax
We can provide individual tax return (T1) preparation services for employment, self-employment, and investment incomes
Buying & Selling
We provide estate planning services to guide you and your family through the process. We will provide a plan that accomodate your needs and ensure that the value of the estate is maximized.
Incorporation
Incorporating your business can help lower your taxes benefits and protect you and your family assets. We can provide expert advice on all related matters.
SR&ED
The Canadian government offers a tax incentive program to companies who advance technologies, known as Scientific Research and Experimental Development program.
U.S. Tax
Whether you are living, working, or investing on either side of the border, we can assist you to understand your tax obligations and devise a plan that saves your hard earned dollars.
Estate Tax
We will prepare your trust tax returns and help devise a plan that works for you.
Industry
Doctors
We strive to provide our clients with the highest level of service to meet their tax needs. Whether you are a sole proprietor, a member of a partnership or have an existing Professional Corporation, we can help you understand your tax obligations.
Small Businessess
Small business services are our specialty. We understand that the needs of each business owner are different and we provide tailored services accordingly.
Startups
As a startup founder, it may feel like you have the entire world on your shoulders. We can guide you from managing day to day operations, to planning on your long-term strategy.
Consultants
Many consultants and service providers go independent for tax savings. We will help you understand from writing off all their expenses, to living the good life.
