Corporate Income Tax (T2)
Our meticulous approach identifies potential tax savings and optimizes your financial strategies.
Sections of the Income Tax Act arguing with each other. Not actually uncommon, if you do your research.
What We Offer
Whether a new small business corporation with 1 employee or medium sized with 50, we make sure you have accurate filings with the CRA to stay complaint and keep your corporation active. We do so with care, integrity, professionalism and transparency to ensure high client satisfaction.
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Whether or not your corporation had any income or activity for the year, the CRA still requires that you file a return to stay complaint. With too many years of unfiled returns, you risk your corporation being dissolved which can cause major headaches and signifcant tax implications.
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These are the most popular type of Corporation in Canada. It is common in small to medium sized businesses, and can be an effective tax planning tool for retirement, in part from the Lifetime Capital Gains Exemption (LCGE). We’ll revirew your books and records and year-end to make sure no deductions are missed, or where you might be able to take advantage of special elections or government grants.
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So you’ve successfully run your sole proprietor business for a few years. Profits are good, reputation is growing and business is expanding. When you incorporating, you’ll want to defer your capital gains and recapture income from the transfer of the assets from the sole propreitorship to the corporation. This is where this handy little section comes in. We’ll help you structure your conversion of assets to your benefit.
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Do you own 2, 3 or even 4 corporations that are associated to each other? We recommend filing them together with us to ensure you take full and proper advantage of the small business deduction amount that might move you from paying 27% to 11% tax.