Our T2 Corporate Tax Filing Express service provides a comprehensive solution for preparing your corporate tax return based on the information you provide in our Corporate Tax checklist. We ensure accuracy and compliance while maximizing deductions.

Yes, our T2 Express service is specifically designed for corporate tax work. To proceed, you must submit your Bookkeeping Trial Balance, which is essential for completing your corporate tax return. If you require additional services, consider exploring our Annual Plans.

The due date for filing your T2 corporate tax return depends on your corporation's fiscal year-end. Generally, you must file your return within six months following the end of your tax year to remain compliant with CRA regulations.

You will need to sign a T183 Corporate Information Return, which we will provide for your signature. This is necessary for us to e-file your return on your behalf.

Filing corporate taxes is a legal requirement for incorporated businesses in Canada. Once you incorporate, you must fulfill various tax filing obligations, including the T2 corporate tax return.

If your Trial Balance is ready and accurate, we can complete your T2 corporate tax return in approximately one hour, ensuring a swift filing process.

Your corporate NOA will be issued by the CRA after your T2 return is e-filed. Typically, you can expect to receive this notice within two weeks via mail or through the CRA portal.

Corporate tax rates vary based on the type of income:

• Active Income: Corporations with active income can benefit from the small business deduction, resulting in a lower tax rate of around 12.5%.

• Passive Income: Corporations generating passive income, such as dividends, face higher tax rates, typically ranging from 40% to 50%.

For personalized advice on your tax situation, feel free to reach out to our team.

If your bookkeeping isn't finalized, you can either complete it yourself using our resources or we can assist you in getting it done. Check out our Do-It-Yourself Bookkeeping options and our Annual Tax Plans for comprehensive support.

If you are selected for a CRA audit, our team is here to help you navigate the process. We offer dedicated support for managing CRA audits, ensuring you have the guidance you need. Visit our Audit page for more information.

As a corporation in Canada, you have several tax obligations:

• Personal Taxes: Applicable to individuals based on their income.

• Corporate Taxes: Based on net income, which is total revenue minus total expenses. The general corporate tax rate is approximately 12.5%.

• Payroll Taxes: Calculated based on employee payroll, submitted monthly.

• HST Taxes: Sales tax calculated on total sales and purchases. If your sales exceed $30,000 annually, you may need to file HST returns.