Corporate Services
Owning a corporation can offer many tax advantages to the owner manager. There are also many opportunities to miss these advantages and/or create bad situations for yourself. I have been doing corporate taxes for literally 40 years and can save you from these pitfalls. Corporate taxes are complicated and ever changing. It is important to get it right.
The other side of owning a corporation is the remuneration, how do you get the money out? There are a plethora of ways to do this and without understanding your options, you can cost yourself a lot of money!
We offer Corporate tax preparation, planning and remuneration strategies, so that you can take advantage of the tax benefits of owning a corporation.
Some things that are important to know.
A corporation must file a corporation income tax return (T2) within six months of the end of every tax year, even if it does not carry on business or owe taxes.
The tax year for a corporation is its fiscal period.
Proper bookkeeping is essential in a preparation of your Corporate Income Tax Return.
Corporations have to pay corporate income tax in monthly or quarterly instalments when the total of the taxes payable for either the previous year or the current year is more than $3,000. The balance of tax the corporation owes for a tax year is due within either two or three months of the end of that tax year, depending on the circumstances of the corporation. If you are a Canadian Controlled Private Corporation (CCPC) and are claiming the small business deduction (and a few other criteria) you can pay three months after your year end.
Tax Preparation
I have been doing taxes professionally since 1980. I know what questions to ask so that we can maximize the dollars you keep in your pocket and minimize [...]
Tax Planning
The objective of personal tax planning is to minimize or defer income taxes payable through the proper organization of your financial/taxation affairs in the most beneficial way possible [...]
Review Previous Years’ Returns
Did you get all your deductions in previous years? As a service to our clients, we can do a review of your previous years' tax returns up to [...]
Payroll
I will provide you with a full complement of payroll services including: Payroll calculations pay stubs direct deposit CRA source deductions and remittance WSIB calculations, deductions and remittance [...]
Mid-Year Review
Would you like to know if you are going to have a tax bill next April? We are offering a fixed-price Mid-Year Review to clients who want to [...]
Incorporation Services
Have you considered incorporating? Do you understand all the pros and cons? We offer incorporation services to your new or existing business. We will provide you with an [...]
Budgeting & Cashflow Analysis
After many years of working with clients and listening to their needs, I have come up with a great process to help you get the financial things done [...]