Corporate Tax Services & Preparation
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Trusted Corporate Tax
Accountants in Ottawa
Our corporate tax accountants use a structured and proactive approach with the goal of managing tax obligations.
We’re here to help set corporations and their management on track to minimize their current expected tax burden while planning for a variety of future tax scenarios. We structure our approach to addressing the diverse and increasingly complex tax compliance demands. Our tax accountants stay up-to-date with changes related to the corporate tax regulations set by the Government of Canada.
Tax planning and preparation for corporations are much different from personal tax processes. If you’re a business owner in Ottawa and the surrounding areas, our team at Beck Ltd. is here to help make tax preparation quick and painless. Get in touch with our team to find out more about how we can help with your corporate tax needs.
Corporate Tax Process Using Cloud Accounting
Work with Beck Ltd. for convenient & reliable digital or in-person services.
Using modern cloud technology, our team of expert corporate accountants is able to provide you with accounting services that are convenient for your busy schedule as a business owner. We’re able to tailor our services so that we can ensure compliance with government standards while meeting your business objectives.
What Clients Are Saying About Beck Accounting & Tax
We’re proud of the repeat business and word of mouth that the Beck team has earned over the years. Read a few of our many client testimonials to get a better idea how Beck can help you.
Frequently Asked Questions
Here are some of the most frequently asked questions we get about corporate tax filing from our clients:
Who has to file a T2?
Resident corporations
All corporations must submit a T2 return for each tax year, even if there is no tax owed. This includes inactive corporations, tax-exempt corporations, and non-profit organizations. The only exceptions to this law are Hutterite colonies, tax-exempt Crown companies, and businesses that were registered charities throughout the year.
Non-resident corporations
A non-resident corporation must submit a T2 return if they engaged in commercial activity in Canada, realized a taxable capital gain, or sold a taxable property in Canada at any time during the year. It’s crucial to remember that this responsibility still applies even if the corporation asserts that any earnings or gains realized are exempt from Canadian income tax as a result of a tax treaty. Therefore, the corporation is not needed to submit a T2 return in such circumstances if the disposition complies with all the requirements.
Contact Beck Tax and Accounting today to schedule a consultation and take the first step towards stress-free corporate tax filing.
Do I need to file anything else?
The Schedules and the General Index of Financial Information (GIFI) are also included with the T2 form. Schedules provide the CRA with additional details regarding your corporation’s tax return and related filings. They include:
- Information schedules: general information and those relating to transactions
- Calculation schedules: net income, taxable income, deductions, taxes, and credits
GIFI is the standard list of codes used to prepare financial statements.
Get personalized attention and support for your business’s unique tax needs with Beck Tax and Accounting. Work with us.
When do I file my corporate tax return?
After each tax year’s end, you have six months to file your return. An organization’s fiscal year corresponds to its tax year.
You have to file the return by the last day of the sixth month after the end of the tax year when the corporation’s tax year ends on the last day of a month.
You should file the return by the same day of the sixth month after the end of the tax year when the last day of the tax year is not the last day of a month.
Need help with complex corporate tax filings? Beck Tax and Accounting have the expertise you need. Contact us today.
What information do I need for my T2?
When filing your corporate tax, you will need to gather the following information:
- Company name and address
- The Business Number issued by the Canada Revenue Agency
- Statements of income and balance sheets filed with the General Index of Financial Information
- The company’s main activities and sources of income (investment income, etc.)
- Whether the company performs its activities or owns property abroad
- Whether you conduct activities in other Canadian provinces
- Whether the company received or paid dividends
- Any acquisition or disposal of fixed assets
You must also have all company shareholders and authorized corporate signatory shareholders’ first and last names, addresses, and countries of residence if you are a major corporation with shareholders. Also, you need to provide information if the company is affiliated with other businesses or if its stockholders own shares in other corporations.
Stop stressing over taxes and start optimizing your business’s financial health with Beck Tax and Accounting’s corporate tax services. Reach out to us today.
