Simplifying year-end with cloud accounting. Your solution for small business financial statements and tax compliance.
Tired of scrambling at year-end to get your finances in order?
Our corporate accounting services are designed to make your life easier. When you keep your bookkeeping current throughout the year, year-end becomes a streamlined process instead of a stressful scramble.
We handle your financial statement preparation, T2 corporate tax return, and strategic tax planning, so you can focus on running your business, not worrying about compliance deadlines.
The benefits of working with a CPA for your corporate accounting
Never worry about late filing penalties. We ensure your T2 return and financial statements are completed and filed on time, every time.
Identify legitimate tax-saving opportunities through strategic planning. Pay what you owe, not a penny more.
Avoid costly errors and CRA audits with professionally prepared financial statements that comply with Canadian accounting standards.
Navigate complex tax regulations with confidence. We stay current on all CRA requirements so you don't have to.
Get clear insights into your profitability, cash flow, and financial position. Make better business decisions with accurate data.
Professional financial statements build credibility with banks, investors, and business partners when you need financing or support.
Comprehensive accounting and tax services for incorporated businesses
01
Professional preparation of your annual financial statements in accordance with Canadian accounting standards.
Income Statement (P&L): Shows your revenue, expenses, and net income for the year
Balance Sheet: Snapshot of your assets, liabilities, and equity at year-end
Statement of Retained Earnings: Tracks changes in retained earnings throughout the year
Notes to Financial Statements: Important disclosures and accounting policy explanations
Year-over-year comparisons: See how your business performed compared to last year
Why it matters: These statements are required for your corporate tax return and are often requested by banks when applying for financing. Professionally prepared statements demonstrate that your business is well-managed and financially sound.
02
Complete preparation and filing of your corporate income tax return with the CRA.
T2 Return preparation: All required schedules and forms completed accurately
Small business deduction: Maximize your eligibility for the lower tax rate on the first $500,000 of active business income
Tax calculation: Precise calculation of your corporate tax liability
CRA filing: Electronic filing with the CRA before the deadline
Payment instructions: Clear guidance on when and how much to pay
Provincial returns: BC or Alberta provincial corporate tax returns
Why it matters: Late filing can result in penalties. Filing accurately and on time protects you from unnecessary penalties and interest charges.
03
Proactive strategies to minimize your corporate and personal tax burden within CRA guidelines.
Salary vs. dividend optimization: Determine the best mix for tax efficiency
Timing strategies: When to recognize income or expenses for maximum benefit
Small business deduction planning: Strategies to maximize this valuable deduction
Capital dividend account tracking: Tax-free dividend opportunities
Tax loss utilization: Strategies to use losses effectively
Year-end tax moves: Recommendations for reducing your current year's taxes
Why it matters: Strategic tax planning can save you thousands of dollars annually. The difference between reactive compliance and proactive planning is significant, both for your corporation and your personal tax situation.
Understanding key deadlines helps you plan ahead, avoid penalties, and make the most of available tax strategies before the year closes.
Your corporation's fiscal year-end (often December 31, but can be any date you choose).
T2 filing deadline: Your corporate tax return must be filed within 6 months of your fiscal year-end.
Example: December 31 year-end = June 30 filing deadline
Tax payment deadline: Corporate taxes must be paid within 3 months (CCPC) or 2 months (other corporations) of year-end.
Example: December 31 year-end (CCPC) = March 31 payment deadline
Our recommendation: Start the year-end process 4-6 weeks before the filing deadline to avoid rushing.
This gives us time to review, optimize, and file properly.
Your year-end is only as good as your bookkeeping throughout the year.
When your books are current and accurate, year-end becomes a simple review and filing process. When they're behind or messy, it becomes an expensive, time-consuming catch-up project.
Already behind? We offer bookkeeping catch-up services to get you current. Learn more about our bookkeeping services.
Your T2 corporate income tax return must be filed within 6 months of your fiscal year-end:
Important: While you have 6 months to file, you have much less time to pay any taxes owing:
Rattray CPA helps to simplify the lives of small business owners through cloud accounting technology and expert financial guidance.
info@rattray.cpa
