Corporate Income Tax
Accurate T2 preparation and year-end filings for incorporated businesses.
Every incorporated business in Canada must file a T2 corporate income tax return each year, even when no tax is payable. Preparing that return properly means more than filling in forms: it starts with clean year-end numbers, considers how you pay yourself, and looks ahead to what your corporation will owe so there are no surprises.
We prepare corporate returns and year-end financial statements for owner-managed businesses. We take the time to understand how your corporation operates, identify the deductions and credits available to it, and file accurately and on time. If the Canada Revenue Agency has questions afterward, we handle the correspondence with them on your behalf.
Whether you have a new corporation filing its first return or an established company that wants a more attentive accountant, we would be glad to help.
What’s included
- T2 corporate income tax return preparation and filing
- Year-end compilation (Notice to Reader) financial statements
- Corporate tax planning, including salary vs. dividend decisions
- Small business deduction and available credit review
- CRA correspondence, reviews, and adjustment support
- Filing deadline and instalment reminders
Common questions
A T2 corporate return is due six months after your corporation's fiscal year-end. Any balance of tax owing, however, is generally due within two months of year-end (three months for many Canadian-controlled private corporations claiming the small business deduction), so it is important to plan ahead of the filing deadline.
Yes. Every resident corporation in Canada must file a T2 return each tax year, even if it was inactive or had no tax payable. Filing on time avoids late-filing penalties and keeps the corporation in good standing.
Typically we need your bookkeeping records or bank/credit card statements for the year, prior-year financial statements and tax return, details of any asset purchases or disposals, payroll records, and GST filings. If your books need cleanup first, our bookkeeping team can take care of that as part of the engagement.
Ready to get your taxes and books in order?
Book a consultation and tell us where things stand. We will explain exactly how we can help - clearly and without obligation.