Filing Canadian Corporate Tax Return
Tax Minimization Strategies for Businesses
GET PROFESSIONAL HELP | CPA
A Strategic Partner in Success Who Will Convert Tax Liabilities into Tax Savings
Canadian T2 Corporation Income Tax Return
We are a full-service accounting firm that provides small business T2 Corporation Income Tax Return Services located in the heart of Coquitlam near Coquitlam Centre. We prepare Compilation and Reviewed Financial Statements preparation services for doctors, lawyers, engineers, construction, IT, retail, restaurants, NPOs, PREC (realtors), and many other industries. We have the knowledge and the expertise to structure your corporation strategically to minimize taxes and stay in compliance with CRA tax filing. We can help you to deal with the CRA tax audit and minimize or eliminate the CRA reassessment. Canada has a very complex and challenging environment that poses a significant tax burden and compliance on small businesses. We minimize risk by managing your tax issues, staying on top of tax changes, and informing you of potential impacts on your business and personal tax affairs. ( 提供普通话服务)
STAY IN COMPLIANCE WITH ALL STATUTORY FILINGS
Our Services
Financial Statements
We prepare various types of financial statements including Compilation (Notice to Reader), Reviewed Financial Statements (for profit and not-for-profit), and Agreed Upon Procedure Reports for property management companies and others. We also prepare a variety of other financial statements for business owners, banks, and other third parties.
Tax Planning
The year-end is a good opportunity to review current year and setup goals for next year including implementation of minimizing taxes. We’ll look at the bigger picture including your company and your personal taxes so that you don’t pay any more tax than is necessary.
Consulting
You can engage us on variety of taxes and business consulting matters, included but not limited to, estate freeze, business incorporation strategies, buy & selling the business and tax implications.
Books Cleanup
You are planning to retire and sell your business. The question is, if your books are clean and ready to get the top notch price for your business. We have experience in this so you will get the great asking price.
Strategy Discussion
We love talking about business goals and strategy. As an entrepreneur you may need financing to expand your business; a new location, buy vs lease equipment, or buying a new business. With our strategic partnership with banks and BDC, we will prepare a financial proposal to achieve that goal.
Business Analysis
With our proven system, we will prepare a detailed business health analysis report. We will also use the extensive financial modeling tools to project a cash-flow so you can meet future operating and capital expense requirements.
Type of Tax Returns and Financial Statements
Reviewed financials
- Privately-owned businesses
- Banking and financial requirements
- Bonding requirements
- Trust accounting reports for lawyers, realtors, property managers, mortgage brokers
- Montessori schools eligible students’ Accountant report.
Tax Returns
- Corporation’s tax returns
- Personal Real-Estate Corporations (PREC)
- Holding corporations
- Investment corporations
- Non-resident corporations
- Charity returns T3010
- Not-for-Profit return T1044
- Partnership returns
Other Reports
- Future-oriented financial information FOFI
- Gaming report BCLC
- Budgeting and forecasting reports
- Combined financial statements for banks
- Loan proposals
Why Choose Us
Nine Reasons To Choose Us Your Accountant and Business Advisor
Fixed Fees
We offer all our clients fixed fees paid monthly so you know exactly what you’re paying for and with all fees agreed upon upfront, there are never any surprises.
Approachable
We’re friendly, and approachable and will provide clarity for your business decisions.
CRA Audit Representation
We offer CRA audit representation in all cases to give you additional peace of mind.
Virtual or In-person Services
Flexible and accessible, you can contact us by video meeting, in-person, phone, or email as much as you like. Just go to our online calendar and book the meeting according to your schedule.
Highest Standards
We work to the highest standards imposed by Chartered Professional Accountant Canada constantly monitoring Professional developments and implementing changes quickly to guarantee best practice at all times.
23 Years of Experience
We have 23 years of experience helping family businesses like yours in a variety of industries. We’re a family business ourselves, now into our second generation of leadership, and can offer great advice on successful practices for your business.
On-Time Reports
Whether you need reports for internal management, CRA or for the bank, you know your reports are ready. We update your records on a regular basis, so you can get your mission critical reports in a timely manner.
Satisfaction Guarantee
At CNC you are not just a customer or a file number, you are a friend and we will go the extra mile to do what it takes for your satisfaction. If you are not happy with our services, we will provide you with a month of free service.
Work Accuracy
We don’t just process your books and tax returns, we take the time to do them correctly and accurately. We stand behind our work so you have complete peace of mind.
What People Say?
Google Review
5/5
I brought my 2018 return into CNC to be reviewed as I felt I had missed something when I had originally filed. Sure enough, they were able to spot it and I am now waiting for a refund from Revenue Canada in the mail! I dealt with the owner, Nafees, who is friendly, knowledgeable and prompt. I'll definitely be bringing my taxes to him again this year. It was a very positive experience.
Jane Evans
Google Review
5/5
Nafees has great problem solving skills. I had an issue with CRA for a while. They not only hold all my 2017 refund but also reassessed me for additional taxes. My previous accountant couldn't resolve the issue. Nafees handled the matter within few weeks. Not only I received my 2017 refund but also CRA reversed the reassessment. Nafees also filed 2018 taxes and I received my 2018 refund as well within couple of weeks. On the top of all this customer service was great, very polite staff. Fees was very reasonable. I will recommend Nafees for all the tax work. I am not going to change accountant anymore. This is the firm, I will be using from now on, for all my tax work.
Marty Green
Google Review
5/5
Thanks Nafees for helping me out with my business taxes and saving me time and substantial taxes. With your professional approach and recommendations the whole process was painless. I will definitely recommend you among my friends for all bookkeeping and the tax work. Good to have an advisor like you during this difficult COVID19 times. Your advise was very helpful for my business.
Janet Wesley
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Frequently Asked Questions
Both individuals and businesses are required to file income tax return in Canada. Individuals file taxes based on calendar year income, whereas, businesses file taxes based on their fiscal years.
Corporate taxes have deadline set by CRA. Corporate taxes must be filed within six months of their fiscal year end. If you don’t file the taxes within deadline, CRA will charge late filing penalty on balance owing.
File your return no later than six months after the end of each tax year. The tax year of a corporation is its fiscal period. You must file a return no later than three years after the end of a tax year to receive a tax refund.
Yes, you can file taxes yourself if you have prepared before or have extensive accounting and tax knowledge. Corporate taxes are very complex than filing personal taxes. If the data is not properly reconciled or the schedules are not completed properly, it may trigger a CRA audit, that may result in reassessment. We are a CPA firm equipped with extensive tax and accounting knowledge and make sure before filing all accounts are reconciled to satisfy CRA in case of an audit. Hiring a CPA accountant can save you time, energy, and money, and be well worth the cost in the end. The accounting fee is fully deductible.
Corporations in Canada pay taxes on their taxable income. In order to determine the taxable income, you should reconcilie your books, poper bookkeeping is must before you attempt to calcualte taxes or hire a chartered profesional accountant (CPA). Generally, corporations have to pay their taxes in instalments. The balance of tax is paid two or three months after the end of the tax year depending on your balance-due day.
If you decide to file your own taxes, you download tax guide from CRA website. However, hiring a CPA tax professional is the safe way to go. CPAs are trained by the rigorous education and 30 month work experience to do business taxes. Fee you will pay to prepare taxes is also deductible fully. If you find yourself getting overwhelmed by preparing and filing your own tax returns, you may want to consider hiring a CPA tax preparer.