We do understand the importance of running a small corporation. Our team members will evaluate and report corporation income and expenses correctly. Our process involves gathering all the relevant data to determine the profit and loss of the company. We request our client to provide financial statements with supporting evidence, including bank statement, receipts, invoices, and any other items related to preparing the tax returns.
- Financial statements for the business including profit-loss statements, income statements, balance sheets, and cash flow statements
- Payroll information (if you have employees)
- Business expenses (travel expenses, advertising expenses, rent, utilities, office supplies, maintenance, telecommunications, internet costs, raw materials, and shipping)
- Motor vehicle expense information. This refers to any business use of auto, operating expenses, vehicle driving log with business kilometres driven, etc.
- Asset additions or disposals during the year such as land, buildings, vehicles, machinery, etc.
- Business use-of-home details — if your home is your principal place of business, or you use the workspace in your home to earn your business income and use it regularly to meet with clients, customers, or patients
- Schedule 200 – T2 Corporation Income Tax Return
- Schedule 50 – Shareholder Information
- Schedule 8 – Capital Cost Allowance
- Schedule 1 – Net Income for Tax Purposes
- Schedule 24 – First-time Filer after Incorporation
- Schedule 100 – Balance Sheet Information
- Schedule 125 – Income Statement Summary
- Schedule 3 – Dividend Received, Taxable Dividend Paid, and Part IV Tax Calculation
- Schedule 11 – Transactions with Shareholders, Officers or Employees