Corporation Tax Preparation Services
Corporation Taxes T2s
From budding startups to mature businesses our accountants, tax advisors, and business consultants have helped several businesses to resolve accounting issues and optimize their accounting, bookkeeping, and financial reporting systems.
Vertax Accountants focuses on creating a personalized tax plan for your corporation based on your financial goals and needs. We follow a systematic approach in recognition of expenses and develop an optimum plan for payroll and dividend for shareholders to ensure your tax liabilities are minimized or deferred when applicable. This helps you plan your finances, maintain your wealth, and support business growth accordingly.
Incorporated or planning to incorporate your business? Our professional tax experts Can help you plan and effectively strategies your business incorporations and efficiently file Corporation Taxes.
Our Corporation Tax service includes:
- Accounting and bookkeeping for income taxes
- Preparation of HST returns
- Filing of T3s, T4s, and T5s with CRA
- Preparation of T2 Corporation Tax returns
- Tax estimates and installment preparation
We ensure timely filing of all the required Taxes by keeping track of your corporation’s tax filing deadlines in our Customer Resource Management (CRM) System. This helps prevent you from being charged penalties and interest upon late filings.
Accounting & Bookkeeping
Maintaining a comprehensive, permanent and accurate record of all of your business’ transactions can be a time consuming and strenuous task for an entrepreneur or small business owner who is focused on growing his/her business. However, understanding the combined effect of all such transactions on the financial position of the business, as a whole, is critical to your ongoing business success.
Our accountants and bookkeeping professionals at Vertax work persistently to uphold the highest standards to ensure that these tasks are dealt with professionally, allowing you to concentrate on the growth and success of your business.
Take advantage of the expertise of our Certified Professional Accountants (CPAs). Our CPAs have vast experience in managing books and accounts of clients from diverse business backgrounds. Vertax Accountants are efficiently trained in:
- Oracle Financials
- Quickbooks Desktop
- Quickbooks Online
- Xero Accounting.
- MYOB or Account Edge
To correctly calculate and file your GST/HST Return, you need to ensure that you not only keep track of how much GST/HST you collected and how much GST/HST you paid in the filing period, but also keep track of your GST/HST by category. We prepare, review and file monthly, quarterly, and annual GST/HST returns appropriately.
Our professionals are well versed in HST calculations and Input tax credits (ITC) and ensure the optimization of your HST filing by following:
- Conventional HST Calculation method
- Quick HST Calculation method
For small businesses, incorrect payroll deductions become the responsibility of the owner. Any amounts not correctly withheld are the business’ or owner’s responsibility to pay. To ensure you avoid such situations, our professionals will maintain your payroll in compliance with legislation and can help you file monthly payroll deductions with the CRA.
We also ensure timely and accurate filing of Employee T4s and T3s, and T5s for the Shareholders and Investors with the CRA.
Most businesses require financial statements for effective and efficient business management, banking purposes, and to ensure their compliance with CRA’s requirements. At Vertax, we diligently provide the finest accounting and bookkeeping services and prepare your financial statements in accordance with the International Financial Reporting Standards (IFRS) and Accounting Standards for Private Enterprises (ASPE) Canada.
Our accountants will gather your business numbers to create your financial statements. Other than the identification and correction of apparent errors discovered in the process of compilation, no additional assurance is provided with the financial statements.
In addition to the preparation of financial statements, more detailed information may be collected, analyzed and reported including information about capital assets, short and long-term debt and information about shareholders or other related parties and share capital for corporations. Balance sheets, cash flow statements, and operations may be included.
We provide our clients with a complete Financial Reports package along with a Notice to Reader (unaudited financial statement) which includes:
- Statement of Financial Position (balance sheet)
- Statement of Comprehensive Income/Deficit (income statement)
- Statement of Retained Earnings
- Statement of Cashflows
- Notes to the Financial Statements