Corporate Tax Returns Chestermere
Corporations are subject to a much higher standard to ensure they are compliant with the CRA’s guidelines. Every company has a different way of handling their finances, including taking out money from their company (e.g. salary, declaring dividends, or using a shareholder’s loan account). Servicing the Chestermere, Strathmore, Calgary and surrounding areas in Alberta, Isaac Achal Professional Corporation’s Chartered Professional Accountant will help you oversee all the necessary documentation required and file your corporate taxes in a timely, efficient, and accurate manner. Whether you are a small to medium-sized business, a start-up company, or even a non-profit organization, we’ve got you covered.
Small to Medium Businesses and Start-Up Companies
If you are a small to medium business or a start-up company, Isaac Achal Professional Corporation (IAPC) is here to assist you with your Corporate Tax Returns. The requirements are as follows:
- You must file your T2 Corporation Income Tax Return even if there is no tax payable.
- Filing is due six months after the end of your corporation’s fiscal year to avoid late filing penalties.
- Corporate taxes are required to be paid three months after the fiscal year.
- If your corporation is expecting a refund, you have up to three years from the end of a fiscal period to file your corporate income tax return.
- Your corporation’s fiscal year cannot exceed 53 weeks.
Non-Profit, Tax-Exempt and Inactive Organizations
If you operate a non-profit, tax-exempt, or inactive organization/company, you are still required to file a T2 or charity return.
Provincial Corporate Tax Returns
With the exception of Quebec and Alberta, provincial corporate taxes are included in your federal corporate tax return and administered jointly with the CRA.
If your business is established in either Alberta and Quebec, unless your corporation is exempt, you will need a file a separate provincial corporate tax return. For Alberta, you will be required to file an AT1. Filing deadlines usually follow the Corporate Income Tax Filing dates as required by the CRA. Follow the Corporate Income Tax section of the Treasury Board and Finance website for more details for filings in Alberta.
Required Documents For Filing A Corporate Tax Return
Provide the following documents related to your business(es) when filing your corporate tax return:
- Expense receipts (arranged by month)
- Bank and credit card statements (arranged by month)
- All CRA correspondence, including GST
- Corporate head office address
- Corporate business number
- Articles of incorporation
- Fiscal year end date
- Access to your books and records
- The previous year’s tax returns (T2)
We will let you know if we will be needing any additional information to complete your return.
What We Will Do For Your Company
By providing the necessary documentation, Isaac Achal Professional Corporation (IAPC) will prepare the necessary Balance Sheets, Income Statements and filing of T2 to ensure a smooth transition towards your upcoming fiscal year. Our chartered professional (CPA) accounting firm will also produce a clean audit trail to protect you when scenarios whereby the CRA may request to view your files. Need tax advice? IAPC is here to help with tax planning strategies to suit your business.
Quick Turnaround
Reach out today to discover how Isaac Achal Professional Corporation (IAPC) can assist with all of your accounting needs, including filing your corporate tax returns, and providing tax planning advice to help maximize your credits or deductions, or reduce your tax exposure through restructuring your business or finances. At IAPC, we’ll focus on the numbers, so you can better plan for a financially healthier future.
OUR SPECIALTIES
Corporations are subject to a much higher standard to ensure they are compliant with the CRA’s guidelines. Every company has a different way of handling their finances, including taking out money from their company (e.g. salary, declaring dividends, or using a shareholder’s loan account). Servicing the Chestermere, Strathmore, Calgary and surrounding areas in Alberta, Isaac Achal Professional Corporation’s Chartered Professional Accountant will help you oversee all the necessary documentation required and file your corporate taxes in a timely, efficient, and accurate manner. Whether you are a small to medium-sized business, a start-up company, or even a non-profit organization, we’ve got you covered.
Small to Medium Businesses and Start-Up Companies
If you are a small to medium business or a start-up company, Isaac Achal Professional Corporation (IAPC) is here to assist you with your Corporate Tax Returns. The requirements are as follows:
- You must file your T2 Corporation Income Tax Return even if there is no tax payable.
- Filing is due six months after the end of your corporation’s fiscal year to avoid late filing penalties.
- Corporate taxes are required to be paid three months after the fiscal year.
- If your corporation is expecting a refund, you have up to three years from the end of a fiscal period to file your corporate income tax return.
- Your corporation’s fiscal year cannot exceed 53 weeks.
Non-Profit, Tax-Exempt and Inactive Organizations
If you operate a non-profit, tax-exempt, or inactive organization/company, you are still required to file a T2 or charity return.
Provincial Corporate Tax Returns
With the exception of Quebec and Alberta, provincial corporate taxes are included in your federal corporate tax return and administered jointly with the CRA.
If your business is established in either Alberta and Quebec, unless your corporation is exempt, you will need a file a separate provincial corporate tax return. For Alberta, you will be required to file an AT1. Filing deadlines usually follow the Corporate Income Tax Filing dates as required by the CRA. Follow the Corporate Income Tax section of the Treasury Board and Finance website for more details for filings in Alberta.
Required Documents For Filing A Corporate Tax Return
Provide the following documents related to your business(es) when filing your corporate tax return:
- Expense receipts (arranged by month)
- Bank and credit card statements (arranged by month)
- All CRA correspondence, including GST
- Corporate head office address
- Corporate business number
- Articles of incorporation
- Fiscal year end date
- Access to your books and records
- The previous year’s tax returns (T2)
We will let you know if we will be needing any additional information to complete your return.
What We Will Do For Your Company
By providing the necessary documentation, Isaac Achal Professional Corporation (IAPC) will prepare the necessary Balance Sheets, Income Statements and filing of T2 to ensure a smooth transition towards your upcoming fiscal year. Our chartered professional (CPA) accounting firm will also produce a clean audit trail to protect you when scenarios whereby the CRA may request to view your files. Need tax advice? IAPC is here to help with tax planning strategies to suit your business.
Quick Turnaround
Reach out today to discover how Isaac Achal Professional Corporation (IAPC) can assist with all of your accounting needs, including filing your corporate tax returns, and providing tax planning advice to help maximize your credits or deductions, or reduce your tax exposure through restructuring your business or finances. At IAPC, we’ll focus on the numbers, so you can better plan for a financially healthier future.
OUR SPECIALTIES
WE'RE HERE TO HELP!
Have a Financial question? You have come to the right place!
For affordable, and accurate accounting needs by an experienced Chartered Professional Accountant (CPA) dedicated to helping solve your financial matters, give us a call, or drop us a line!