Corporate Tax Accountant Toronto – Corporation Income Tax Services Toronto
Full-service accounting firm Bomcas Canada helps clients with their Canadian small business and corporate tax (T2) needs. Regardless of the size of your business, we can help you file your taxes. You don’t have to worry about tax compliance if you run a small business from your home, or if you’re a corporation that operates in multiple provinces of Canada or the United States.
In order to serve as your Toronto corporate tax accountant, we have devoted ourselves to the task. Additionally, we operate from a number of locations in Canada, both locally and remotely. Many of our clients work with us remotely, too. Our c Cloud accounting expertise enables us to accept clients from across Canada and around the world and the USA.
We recognise that each business is unique. Our accounting services are always tailored to your specific needs.
Corporate Tax Preparation Services
The following are examples of a comprehensive range of corporate tax preparation services:
- Corporate income tax returns are prepared and filed on a regular basis (T2).
- Corporations based in Canada that must comply with US tax regulations.
- Canadian tax filing requirements for US corporations and limited liability companies (LLCs).
- Corporations with shareholders who are not residents of the United States.
- Non-Resident and Foreign Corporations in Canada can benefit from our tax services.
- Preparation of information returns such as T4s, T4As, and T5s, among others.
- Foreign assets, foreign affiliates, and other foreign reporting requirements, such as Forms T1134 and T1134, are all discussed in detail below.
- Reorganizations of corporations, tiered corporate structures, and tax-free rollovers are all possibilities.
- Transfer pricing documentation, as well as the filing of information returns
- Back tax filings for corporations – tax filing for multiple years for corporations owing back taxes.
- Tax Appeals and Voluntary Tax Disclosure are two options available to taxpayers.
Who in Canada is required to file a T2 (Corporate Tax Return)?
Tax returns must be filed with the Canada Revenue Agency (CRA) every year, regardless of whether or not you owe them any money. Non-profit organisations, resident corporations, tax-exempt corporations, and dormant corporations are all included in this category. The only exceptions to this rule are the Crown Corporations and the Resident Charities.
When conducting business in Canada at any point during the year, regardless of whether or not the corporation realised an income tax capital gain or sold taxable Canadian property under certain conditions, a non-resident corporation must file a T2 return.
Tax Consulting Service Toronto
Back Filing Of Corporate Income Tax Returns.
If your corporation is falling behind on its income tax returns in Canada, we can assist you in filing multiple years’ worth of tax returns at the same time if you contact us as soon as possible. Do not worry if you are having difficulty completing bookkeeping for previous years in order to meet tax compliance requirements; we can assist you with that as well.
Advisory Services for Corporations on Income Taxation
Because every client’s situation is unique, we tailor each and every one of our tax strategies to meet their specific needs. Taking advantage of all available tax credits and carefully planning transactions, inflows, and outflows can help businesses reduce their tax liability.
Furthermore, we have extensive experience in strategic planning for corporations and their shareholders. Our clients can anticipate and plan for the tax burdens of both shareholders and their investments with our assistance, allowing them to minimise both the tax burdens of shareholders and the value of their investments. Clients frequently request services such as lifetime capital gain exemption, tier-based organisational structure, and organisational reorganisation.
What are the advantages of retaining the services of a Professional Tax Accountant, Toronto?
For legal and compliance reasons, tax season can be a time when accountants and other tax professionals can prove to be valuable assets. As a “tax accountant” or “tax advisor,” we refer to a professional who has extensive experience in tax and accounting matters, as well as providing advice and consulting to businesses in order for them to make better financial decisions. The field of taxation has attracted the attention of accountants who have chosen to specialise in the field of taxation.
Maintaining accurate accounting records is critical if you own or operate a business of any size or scope, whether large, medium, or small in scale. Whenever you hire an internal tax accountant, you are bringing the knowledge and experience of a single individual into your organisation. When you hire an accountant from a top accounting firm, you will have access to a wide range of services that will benefit your company, rather than just the expertise of a single individual, as a result of your hiring. Payroll, bookkeeping, tax planning, tax preparation, and tax filing are all services provided by the tax accountants at Bomcas Canada Accounting & Tax Services.
Consequently, allow us to handle your accounts payable and receivable so that you can devote your time and energy to other aspects of your company’s operation. With the accounting and tax services provided by the omcas Canada team, you can devote your time and energy to the expansion of your business. You can rely on us to provide you with assistance because we have earned a reputation as the most reputable Toronto corporate tax accountants.