Corporate Tax Services
We prefer to take a proactive vs. reactive approach to tax services. By keeping current on new tax laws and legislation, we are in a position to identify key tax planning opportunities that minimize both your current and future tax liabilities. We provide our individual and business clients with the taxation expertise and knowledge that they deserve throughout the year. Tax services offered include, but are not limited to:
- Tax planning for individuals and corporations
- Return preparation for:
- Individuals
- Corporations
- Estates and trusts
- Not-for-profit organizations
- Tax considerations in matrimonial settlements
- Tax effects of buying/selling a business
- Tax effective retirement and estate planning
FAQ's
How do I pay my Corporate Instalments with Online Banking? I can't find them in the list of payees?
You must first have a business account. If you give us a call, we can walk you through setting up access the first time.
Can I expense purchases from Kijiji or Marketplace?
Absolutely, just print out the ad and put it with your work as backup.
Do I need to make tax instalments? I don't want to give CRA any money before I have to.
Our software will perform the calculations and we will let you know if you should make instalments. Give us a call and we can advise on your specific situation.
And the follow-up call -
Why did I get an instalment penalty on my Corporate Account, I paid them when Read's told me to pay?
You did not make the necessary monthly or quarterly instalments required during the year. Also, CRA requires most businesses to pay their corporate tax obligations within 90 days from the end of the fiscal year. However, your corporate tax return is not due until 6 months after your fiscal year end.
What's the difference between taking a bonus or taking a dividend?
Every situation is different, give us a call to discuss which is most beneficial to you.
Capital gains new exemption. What's the impact if I sell?
We can prepare a tax plan specific to your situation, give us a call to discuss.
Should I Incorporate?
We like to ask one simple question first. Do you require all the income that the company is currently making to live off of right now?
If your lifestyle doesn't require all the money your current business is generating, than you should look at incorporating. Obviously, there are other factors in making a decision to incorporate, give us a call and we can discuss.