Incorporated Businesses
Corporations filing T2 returns, HST and payroll.
Running a corporation means more than one filing obligation. There is the corporate return itself, the sales tax, the payroll remittances, and the question of how the business should pay you.
What we handle
- Deciding how to compensate yourself through management payroll and shareholder dividends
- Filing corporate income tax returns and keeping up with regulatory and compliance filing
- Managing HST and other sales taxes alongside employee and contractor records
- Producing financial statements your bank or shareholders will accept
Self-Employed & Sole Proprietors
T2125 filers, contractors and commission earners.
When you work for yourself, your personal return carries your business with it. The T2125 has to be right, the expenses have to be supportable, and once sales cross the HST registration threshold a new set of obligations begins.
What we handle
- Preparing T1 and T2125 returns as a sole proprietor
- Knowing when to register for HST/GST — required over $30,000 of sales, or voluntarily before that
- Calculating input tax credits from your bills and deducting them against the HST on your invoices
- Filing your HST/GST return
Property Owners & Investors
Rental income, dispositions and principal residence.
Property is where personal tax gets expensive if it is handled casually. There are many elections, rollovers and designations available, and choosing correctly is often the difference between a reasonable result and double taxation.
What we handle
- Applying the elections, rollovers and designations that help you avoid double taxation
- Addressing the principal residence exemption properly when a principal residence is sold
- Reporting property income and dispositions on your personal return
- Making sure you receive the credits, benefits and deductions you are entitled to
Accountants & Bookkeepers
Behind-the-scenes technical support for your own client files.
Every accounting and bookkeeping service provider eventually meets a file that sits outside their comfort zone. That is not a shortcoming; it is the nature of tax.
What we handle
- Accounting for joint ventures
- Accounting and taxation for real estate developers
- Tax planning for shareholder remuneration, especially for medical doctors, dentists and veterinarians
- Framing appropriate responses to CRA audit inquiries and re-assessments