Filing Canadian Corporate Income Tax Return

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Canadian T2 Corporate Income Tax Return

As a leading full-service CPA accounting firm serving Coquitlam and Vancouver, we specialize in providing small businesses with expert Corporate Income Tax Return services. Our team offers Compilation and Reviewed Financial Statement preparation services for diverse industries, including doctors, lawyers, engineers, construction, IT, retail, restaurants, non-profit organizations, PREC (realtors), and more. With our knowledge and expertise in corporate income tax return, we strategically structure your corporation to minimize taxes and ensure CRA tax filing compliance. Count on us to assist with CRA tax audits and eliminate reassessments. In Canada’s complex corporate income tax return environment, we proactively manage your tax issues and inform you of potential impacts on your business and personal tax affairs. Trust us to maximize your business potential and minimize corporate income tax liabilities.

Unleash Your Business's Potential: Proven Tax Minimization Strategies That Work

Corporate Income Tax 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

As year-end approaches, it's an ideal time to review your current financial position and set goals for the upcoming year, including strategies for minimizing your taxes. At our accounting firm, we take a comprehensive approach to tax planning, looking at both your company and personal taxes to ensure that you're not paying more tax than necessary. Our expert team will work closely with you to review your financial statements and identify areas where you can optimize your tax position. We'll help you identify potential tax savings opportunities and implement strategies to minimize your tax liability. With our expert guidance, you can rest assured that you're taking full advantage of all available tax-saving opportunities and keeping more of your hard-earned money.

Consulting

At our accounting firm, we offer a range of tax and business consulting services to meet your unique needs. Our expert team can assist you with a variety of matters, including estate freeze, business incorporation strategies, and buy and sell transactions, as well as provide guidance on the tax implications of these transactions. Our services are tailored to your specific needs, and we work closely with you to ensure that you have a comprehensive understanding of the options available to you. With our expert advice and guidance, you can make informed decisions that will help you achieve your financial goals.

Books Cleanup

If you're planning to retire and sell your business, it's essential to ensure that your books are in order and that you can achieve the highest possible price for your business. With our extensive experience in buying and selling businesses, we can help you prepare your financials and position your business for maximum value. Our team can help you identify potential buyers, negotiate the best possible deal, and ensure that all tax implications are considered. You can trust us to provide you with expert advice and support throughout the entire process, so you can achieve the best possible outcome for your business sale.

Strategy Discussion

As entrepreneurs ourselves, we understand the importance of discussing business goals and strategy. If you're looking to expand your business with new locations, equipment purchases, or even acquiring a new business, you may need financing to achieve those goals. With our strategic partnerships with banks and BDC, we can help you prepare a comprehensive financial proposal that will increase your chances of securing the financing you need. Our expert team will work closely with you to understand your goals, review your financials, and present a compelling financial proposal to potential lenders. You can trust us to guide you through the financing process and help you achieve your business expansion goals.

Business Analysis

At our accounting firm, we have a proven system for conducting a detailed business health analysis report. We use sophisticated financial modeling tools to project cash-flow and help you meet future operating and capital expense requirements. Our expert team will work closely with you to review your financial statements and identify areas for improvement, as well as provide recommendations for optimizing your cash flow and working capital. With our comprehensive analysis and expert guidance, you'll have the insights you need to make informed decisions that will help your business thrive.

Ready to proceed

STAY IN COMPLIANCE WITH ALL STATUTORY FILINGS
CNC Your Accounting Team

Complete Peace of Mind

Full CRA audit representation at no additional cost

Reporting

Reviewed & compilation 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

Transparent Pricing

Say goodbye to surprises with our fixed monthly fees. You’ll always know exactly what you’re paying for, as we agree upon all fees upfront.

Approachable

Our friendly and approachable team provides clarity for your business decisions, ensuring you feel supported every step of the way.

Decades of Experience

With 23 years of experience assisting family businesses across various industries, our second-generation family-owned firm is uniquely positioned to provide valuable advice for your business success.

Uncompromising Standards

Committed to the highest professional standards set by Chartered Professional Accountant Canada, we stay updated on industry developments, swiftly implementing best practices for your benefit.

Timely Reports

Whether you need reports for internal management, CRA compliance, or financial institutions, rest assured that we deliver on time. Our regular record updates ensure mission-critical reports are always available when you need them.

Flexible Service Options

Whether you prefer virtual meetings, in-person consultations, phone calls, or emails, we offer flexible and accessible communication channels. Simply book a meeting through our online calendar at your convenience.

CRA Audit Representation

Gain peace of mind with our comprehensive CRA audit representation services, protecting your interests throughout the process.

Satisfaction Guaranteed

At CNC, you’re not just a customer or a file number; you’re a valued friend. We go the extra mile to ensure your satisfaction, offering a month of free service if you’re not happy with our exceptional assistance.

Precision in Work

We don’t simply process your books and tax returns; we take the time to do them correctly and accurately. Our commitment to quality work guarantees your 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.
cpa coquitlam
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.
cpa coquitlam
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.
cpa coquitlam
Janet Wesley

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Frequently Asked Questions

Yes, our team is well-equipped to assist with CRA tax audits, ensuring proper documentation and compliance during the audit process. We also work to minimize or eliminate CRA reassessments to protect your business’s financial health.

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.

Late filing or incorrect Corporate Income Tax Returns may result in penalties imposed by the CRA. The penalties can include late-filing penalties 5% of the balance owing plus 1% per month late, plus the interest on outstanding balances, and potential audit assessments for inaccurate reporting.

There are several reasons why you should consider hiring a CPA accountant to do your business taxes. Here are a few key benefits:

  1. Expertise: CPA accountants have extensive knowledge and expertise in tax laws and regulations. They can help you navigate the complex tax system, ensure compliance with tax laws, and identify opportunities to minimize your tax liability.

  2. Time-saving: Tax preparation can be a time-consuming process, especially if you’re not familiar with the tax system. By hiring a CPA accountant, you can save time and focus on running your business while leaving the tax preparation to the experts.

  3. Accuracy: Mistakes on your tax return can lead to penalties and even an audit. CPA accountants are trained to ensure accuracy and reduce the risk of errors on your tax return.

  4. Tax planning: A CPA accountant can help you plan ahead for taxes and identify opportunities to reduce your tax liability. They can help you make informed decisions about business expenses, investments, and other financial decisions that can impact your tax situation.

  5. Peace of mind: By hiring a CPA accountant, you can have peace of mind knowing that your tax return is in good hands. You can trust that your tax return is prepared accurately and in compliance with all applicable tax laws and regulations.

Strategic tax planning involves analyzing a business’s financial situation to identify opportunities for tax deductions, credits, and incentives, resulting in reduced tax liabilities and increased tax savings.

Our expert corporate tax accountants specialize in preparing T2 corporate income tax returns, meticulously analyzing your financial data to minimize tax liabilities and maximize potential tax savings.

Small businesses benefit from professional tax services to ensure accurate reporting, compliance with tax regulations, and strategic tax planning to minimize their tax liabilities.

Our dedicated team has extensive experience in handling corporation income tax returns, ensuring accuracy and compliance with CRA regulations. We work diligently to help your business thrive by optimizing tax strategies and maximizing deductions.

Absolutely! Our skilled team is well-versed in handling complex T2 corporation income tax returns for various industries. We stay up-to-date with tax regulations and use our expertise to ensure compliance while maximizing tax benefits.

Yes, our corporate income tax filing services are available year-round. We assist with timely filing, tax planning, and ongoing support to help your business maintain compliance and achieve financial success.