Corporate Tax in Mississauga

Category: Tax

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Corporate tax in Mississauga, Filing corporate tax to the Government is unavoidable. Failing to file on time may incur a penalty by Canada Revenue Agency.

Filing corporate tax in Mississauga is difficult as it involves various categories of forms and procedures. Rami Kaai Accounting Business and Taxation provides impeccable strategies to help you with return filing.

If you want to know about documents and filing procedures, read on.

What are the Documents You Need to File Corporate Tax in Mississauga? 

Some of the handful of documents are necessary to file for corporate tax. However, missing out on any of those can be detrimental. Find the checklist below to keep them handy.

• Payroll information
• Asset disposal
• Financial statement
• Expenses and purchases receipts
• Received invoices
• GST/HST return
• Incorporation to Canada Business Corporation Act (CBCA) documents
• Accounts receivable and payable
• Employee deduction payable

As a busy corporate owner, you may have less time to focus on the various laws and document requirements for filing corporate tax in Mississauga.

Take professional help to meet deadlines and avoid the last-minute hassle. Our expert tax accountants can make your life easier by filing your tax return on time and accurately.

How to File Corporate Tax in Mississauga? 

CRA has provided a detailed guideline on corporate income tax return. You need to fill in all the necessary information in the form such as the corporation’s name, address, tax year, taxable income, small business deduction, etc.

You need to submit the information-filled form with CRA every year. Along with the form, you need to prepare other T2 returns and schedules. File T2 returns using CRA-certified software.

Unlike personal tax filing, corporate tax filing is very complicated. If you want to protect your company from any types of tax complications, taking professional help from corporate tax consultants will save your effort and time.

When Should You File Your Tax Return? 

The deadline to file your corporate tax return is within 2 months from your company’s incorporation with CBCA. If you want to file your corporate tax in Mississauga, ensure that you file it within the specified time.

If you are late to file your taxes, CRA may charge you an additional percentage of taxes as a penalty. You need to submit your return on time to get your tax refund. The best you can do is to have separate savings account that you can use as a fund to pay tax later.

How Can Our Accountants Help You File Your Tax on Time? 

Our corporate tax accountant team is a trusted name in the accounting field of Mississauga. We prepare and file corporate taxes on time to save those extra pennies in the form of tax deductions.

Additionally, we ensure that the paperwork is maintained properly so that you don’t end up paying huge amount fines and penalties from CRA. You can consult with our experts on how much amount you have to pay before filing your tax.

Not only filing corporate tax in Mississauga, but we also provide bookkeeping services such as preparing financial statements, business registration, payroll services, and more.

If you want to consult with our representatives, visit our page at Rami Kaai

Wednesday, January 19, 2022