Corporate tax returns for small companies, on time every year
We prepare your T2 corporate tax return and year-end financial statements, file them with the CRA and Ontario, and show you how to pay yourself in the most tax-efficient way. Missed a year-end? We file past years too.
Sound familiar?
- Your year-end passed months ago and nothing's been filed.
- Your books are "mostly" done, in a spreadsheet nobody else understands.
- Your bank wants financial statements for a loan, and you don't know what they mean.
What's included
- T2 corporate income tax return, e-filed (Ontario corporate tax is filed on the same return)
- Year-end adjusting entries and reconciliations
- Year-end financial statements
- Notice to Reader / compilation engagement report [only if the licensed CPA issues it, see notes]
- Shareholder loan and dividend tracking
- T5 slips for dividends paid
- Small business deduction checked and claimed where you qualify
- Past-year T2 returns for missed year-ends
- Help with CRA review letters and reassessments
Financial statements, explained
A compilation engagement (still widely called a Notice to Reader) is a set of financial statements put together from your records by an accountant. It's what banks, landlords and investors usually ask for from a small company. It isn't an audit, and it doesn't need to be: for most small private companies it's exactly what's required.
We prepare it alongside your T2, so you get one set of numbers that matches everywhere.
How to pay yourself
As an owner you can pay yourself a salary, dividends, or a mix. Salary builds RRSP room and CPP, and it's a business expense. Dividends are simpler to run and avoid payroll. The right mix depends on your income, family, and plans.
We run the numbers for your situation each year, not a rule of thumb.
Year-end mistakes we fix most often
Personal spending through the company.
Groceries, family phones or a personal car paid from the business account. Left alone, the CRA can treat it as a taxable benefit or shareholder loan. We sort out which is which and set you up so it stops.
Shareholder loans left open.
Money taken out of the company that isn't salary or dividends becomes a shareholder loan. If it isn't repaid within a year after year-end, it can be added to your personal income. We track it every year so that doesn't happen by surprise.
Dividends paid without slips.
Every dividend needs a T5 slip by the end of February. Many owners take money out and forget; we catch it at year-end.
HST that doesn't match.
If the HST you filed doesn't line up with the sales in your books, the CRA notices. We reconcile both before anything is filed.
How it works
Step 1: Free call.
Tell us your year-end and what's been done.
Step 2: Fixed quote.
Based on how clean the books are and how many years are due.
Step 3: We close the year.
Reconcile, adjust, prepare the statements and the return.
Step 4: You review and sign; we file.
And we put next year's deadlines in your calendar.
Key dates
| What | Deadline |
|---|---|
| T2 return | 6 months after your year-end |
| Balance owing | 2 months after year-end (3 months for most small Canadian-controlled private corporations) |
| Instalments | Monthly or quarterly once your tax is over the CRA threshold |
Last reviewed: [date].
Price
See all pricing →Fixed quote on the free call.
FAQ
My company didn't make money. Do I still file?
Yes. Every corporation files a T2 every year, even with no income. A nil return is quick and cheap; not filing leads to penalties.
We're behind by two years. Can you catch us up?
Yes. We rebuild the books for each missing year and file the returns together.
Do I need an audit?
Almost certainly not. Most small private corporations need a compilation (Notice to Reader), not an audit.
Can you take over from my current accountant?
Yes. We request last year's files and pick up from there.
Is my HST included?
HST filing is a separate service, often bundled. See GST/HST filing.
Need the books kept every month? See bookkeeping and payroll. Not incorporated yet? See incorporation. A dentist, doctor or physio? See accounting for healthcare professionals.
Close your year without the stress
