Corporate Tax Accountant in Toronto and Scarborough

Pay the lowest Corporate Tax by following the Canadian Corporate Tax Act!

Due to our excellent, skilled professional accounting services, our corporate clientele is rapidly expanding. With complete assurance, we plan and prepare your corporate tax returns all year long. We retain all of your corporation’s records for a minimum of six years following the submission of your corporate tax returns. To minimize your worries, we are always available to deal with all of your corporate tax services .

What is Corporate Tax?

Business tax in Canada refers to the taxes imposed on businesses by governments to raise revenue and are typically levied on the income, sales, or other financial transactions of a business. One type of business tax is corporate tax. This type of tax is imposed by the federal and provincial governments on the income earned by corporations and other business entities operating within the country. The amount of corporate tax owed is determined by the net income of the company. In Canada, corporations are required to file a corporate tax return each year and pay the taxes owed.

Why Should i use a Corporate tax service ?

The importance of using a corporate tax service is:

• Compliance: A Corporate tax service can help companies comply with tax laws and regulations. This ensures that the company avoids penalties, fines, and legal problems related to non-compliance in Canada.
• Tax Savings: Corporate tax services can also help companies save money on their tax bills.
• Expertise: Our services provide companies with access to the expertise and experience of tax professionals in Canada. Kennedy tax and accounting inc. has the knowledge and experience to handle complex tax issues and provide effective tax solutions for your businesses in Canada. For More documentation on Corporate taxes, Please visit the Official website of Canadian Taxes.

Our Corporate Tax Services Include:

• Preparation of corporate tax (T-2) returns.
• Annual filing when it is a federal corporation.
• Planning to minimize your corporate taxes.
• Up to date on all the latest tax laws.
• Multiyear corporate tax returns.
• Special services for Not for Profit (NFPO) & charitable organizations.
• Free consultation on your corporate taxes. We prepare your financial statements and maintain your books and records following Ontario Business Corporations Act or Canadian Business Corporations Act (CBCA).

How a T2 return is handled here

A corporation files a T2 every year. The return is due six months after the taxation year ends. Payment deadlines are shorter than the filing deadline, so the books should be ready before the balance is due. The firm prepares the T2, the federal annual return when the corporation is federal, and the financial statements under the Ontario Business Corporations Act or the Canada Business Corporations Act. Not-for-profit organisations and charities are included. Records are kept for at least six years after the return is filed. There is no published corporate fee. The quote depends on whether the bookkeeping is already tidy. Related work sits on the bookkeeping, HST and payroll pages.

Kennedy Tax & Accounting Inc. works from one Scarborough office near Kennedy Station. You can come in or send the documents. English, Bengali and Tamil are spoken. Manoranjan (Mano) Talukder, CPA, leads the firm, which has done this work since 2010. Personal income tax returns start at $49.99 + HST. Other work is quoted before it starts.

Book from the contact page. If the CRA writes after a return is filed, bring that letter in. The firm explains how the return was prepared.

If the T2 is late or the balance is unpaid

The firm’s FAQ said a corporation that owes tax and does not pay can face a frozen bank account, a garnishment, a lien on property, or a court step. That is why the return and the balance are not left until the books are perfect. File from the records you have, and fix the books if they are behind. The filing deadline is six months after the year end. The balance-due date is earlier than that filing date. The office will tell you which date applies once it knows the year end. It will not invent a payment date on this page.

What the file needs

The prior T2 if there was one, the notices of assessment, the bank statements, and the books. If the books are not done, the bookkeeping service comes first. Financial statements are prepared to the standard the firm already states: the Ontario Business Corporations Act or the Canada Business Corporations Act, as the company requires. Not-for-profit organisations and charities use the same desk. A federal corporation also has its annual return.

Rates change. The page that carries the federal and Ontario percentages, checked against the CRA and ontario.ca, is the corporate tax rates guide. This service page does not restate them, so a rate change does not leave two different figures on the site. The fee for preparing the T2 is quoted. There is no published corporate price. A free consultation on the corporate file is on the original include list. Ask what that first conversation covers.

Bring the year-end date with the first call. Everything else on the file, including when the return is due, is counted from that date. Not-for-profit organisations and charities use this same T2 desk. Say so when you book.

The first consultation on a corporate file is on the original include list. Call and ask what to send before that conversation.