Corporate Tax & Financial Statement Services

Incorporations are a separate legal entity.

This means they are a legal 'person' in the eyes of the law, and the tax man.  Because of this the have to file a corporate income tax return called a T2 Corporate Income Tax Return.

T2 Corporate Income Tax Returns are more complex that a personal income tax return most Canadians are familiar with. They come with a whole new set of rules and schedules that need to be completed. They also heavily rely on great bookkeeping to ensure they are filed accurately.

To help avoid unnecessary audits and unexpected taxes always reach out to Chartered Professional Accountant when looking for corporate income tax return services.

Here at Creekside Accounting CPA, CA we LOOOVE small businesses. They make up 100% of your corporate client base.

We help business owners in all sorts of industries including:

• IT Specialists, Subcontractors, & Project Managers
• Restaurants, Cafes & Bakeries
• Trades & Construction
• Management Consulting
• Engineering Services
• Financial Services

We strive to make the day to day lives of our small business client easier. Helping them with their corporate tax returns is one way we do this.

We love being our client's trusted Chartered Professional Accountant, their tax advisor, and their business ally.

• Corporate Income Tax Return Preparation
• Bookkeeping Review, Adjustments, & Corrections
• GST, PST, payroll, and WCB filings
• CRA Audit Assistance (for existing clients)
• Monthly, Quarterly, or Annual Bookkeeping / Data Entry
• Tax Planning and Profitability Guidance

Here at Creekside Accounting, CPA, CA we provide Financial Statement Services as an 'add-on' available with any corporate income tax return.

We do this to help lower our fees for clients who do not need forma financial statements.

Financial Statements are an official document package that:

• You can provide to bankers to obtain financing
• You can provide to a landlord to acquire/maintain a lease
• Are excellent for managerial review
• Provide a snap shot of your business’s health.

To ensure the highest quality of services we ask that all Creekside Accounting clients interested in a financial statement package complete a financial statement questionnaire.

Once new clients have been onboarded into our system and authorization forms signed we'll begin preparing your corporate income tax return. Our process looks like this:

• Step 1: You Provide Your Documents & Sign Our Engagement Letter - We'll send you a checklist and an engagement letter for signing. We'll also let you know how you can provide your information and what to provide. 

• Step 2: Confirmation of Receipt - You'll receive an email from our CPA acknowledging that records have been received. 

• Step 3: Connected to a Corporate Tax Preparer - You'll be connected with one of our experienced corporate income tax preparers who will be your main point of contact throughout the preparation of your corporate income tax return.

• Step 4: We'll ask for information (a lot of information) - Emails, phone calls, and inquiries can all be expected. This is us checking your bank balances, your accounts receivable, your assets, your loans, and your bookkeeping. This process can take anywhere from 2 weeks to 3 months depending on your response time and the information you provided up front. This step is crucial to ensure your corporate income tax return is completed accurately. 

• Step 5: First CPA Review - Your corporate income tax return will be reviewed by a Chartered Professional Accountant. They'll review all of the information you've been providing and see if gaps still exist and if there are any tax planning options or audit risks that need to be assessed. 

• Step 6: More Info Please - Your dedicated income tax preparer will contact you for more information after your file has received is 1st Chartered Professional Accountant review. 

• Step 7: Second CPA Review -  Your corporate income tax return is then reviewed a second time by a Chartered Professional Accountant.

• Step 8: Recommendations & Drafts For Review - If no further information is needed a Chartered Professional Accountant will email you with a draft copy of your corporate income tax return and send you a list of recommendations. 

• Step 9: Wrapping Up - If you are happy with your corporate income tax return you'll sign your e-signature package, pay your invoice and have your year end filed. An optional wrap-up meeting is available with our Chartered Professional Accountant if you have any questions. Once signed and paid we'll e-file your corporate income tax return. 

While the process involves several steps, our role is to manage the details and keep everything moving smoothly. We will guide you through each stage, communicate clearly by email, and follow a documented workflow to ensure nothing is missed.

Our goal is to make the personal income tax process straightforward, organized, and predictable for you.

Because corporate income tax returns can take quite a long time frame to be completed (between 2 weeks and 3 months) keep the following deadlines in mind:

• Your tax payment deadline is 3 months after your year end date (if you are an active Canadian owned small business corporation). Inactive / investment corporations only have 2 months to pay their taxes due.

• Your financial statement deadline is often 3 to 4 months after your year end date (if you need to provide financial statements to your lender).

• Your corporate tax return filing deadline is 6 months after your year end date.

• Please provide us your year end records five weeks after your year end date.

• If you also require bookkeeping or expense summarization services, please provide your documents 2 weeks after your year end date. 

Worried about missing deadlines? Make sure you onboard with our services early. We'll then be able to send you email reminders when it's time to get the process started. 

If you are a small business owner looking for proactive corporate tax support, the ideal next step is to book a paid consultation.

We will review your situation, answer key questions, and outline whether our services are the right fit.