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Small Business Corporate Tax Return | CPA Accountant Coquitlam

We (CNC) are a full-service accounting firm that can provide small business corporate tax preparation services located in Coquitlam. We have the knowledge and the expertise to structure your corporation strategically to minimize taxes and stay in compliance with CRA tax filing. Canada has very complex and challenging environment which poses a significant tax burden and compliance on small businesses. We minimize risk by managing your tax issues, staying on top of tax changes and informing you of potential impacts on your business and personal tax affairs.

We also utilize cloud computing technology to work with our clients in other provinces all across Canada. CNC also provide full-cycle bookkeeping, accounting, and corporate advisory services at very reasonable rates.

Services

  • Prepare All Types of Corporation Taxes
  • Sole Proprietorship, Contractors, and Partnership Returns
  • Disposing of US & Canadian Property and Reporting the Capital Gain and Related Tax Filings.
  • Investment Corporations, Holding Corporations, and Rental Income
  • Non-Resident Corporations in Canada
  • Preparation of Notice To Reader Statements
  • Preparation of Reviewed Financial Statements
  • Preparation of Statements for BDC and Banks

Failure to File Penalties

If you file your return late, a penalty applies. The penalty is 5% of the unpaid tax that is due on the filing deadline, plus 1% of this unpaid tax for each complete month that the return is late, up to a maximum of 12 months.

The corporation will be charged an even larger penalty if CRA issue a demand to file the return and they assessed a failure to file penalty for the corporation in any of the three previous tax years. The penalty is 10% of the unpaid tax when the return was due, plus 2% of this unpaid tax for each complete month that the return is late, up to a maximum of 20 months.

Please contact us to submit your corporate income tax return on time to Canada Revenue Agency to avoid non-deductible late filing tax penalties.

Resident Corporations

All resident corporations (except provincial Crown corporations and registered charities) have to file a corporation income tax (T2) return every tax year even if there is no tax payable. This includes:

  • Canadian Controlled Private Corporations (CCPC)
  • Non-Profit Prganizations;
  • Investment Corporations
  • Inactive Corporations
  • Personal Services Business Corporations

Non-Resident Corporations

A non-resident corporation has to file a return if, at any time in the year, one of the following situations applies:

  • It Carried on Business in Canada;
  • It Had a Taxable Capital Gain; or
  • It Disposed of Taxable Canadian Property.
  • Non-Resident Corporations Must File Their T2 Return, Schedules, and the General Index of Financial Information in Canadian Funds Only.

What Our Clients Are Saying About Us

"Nafees and his professional team have provided me with a broad range of services to help manage my small business for the last ten years including recent support through the sale of the business to new owners. I found the quality of his services to have been excellent and it was always reassuring to have Nafees' providing advice and guidance, virtually as a partner with me, as the business grew. I continue to use his services for my personal financial matters."
Glenn Quarrington
Owner (Ex VP of BestBuy)
"Nafees is an accountant that looks at business with a holistic perspective. Over 7 years ago, I began working with Nafees on personal taxes. He has since provided a great deal of service to me by assisting me with analysis and feedback with the areas of business I run. Nafees has earned Certified Management Accountant (CMA) to add to his many other designations such as CPA, CGA & ACFP. However, Nafees already looked at accounting with the organic approach of including strategy and business planning. I would highly recommend Nafees for business accounting and taxes in addition to CFO/Controller part time services."
Keesha Rosario
Owner (Smart Watering System)
Nafees has provided awesome accounting services to me for the last 5 years that include; bookkeeping accounting, payroll, and taxes. He has always been accessible and has the answers any questions I need answered regarding accounting for my business as it has grown. He has become a consistent asset that I know I can rely on.
Jeff Sakari
Owner (LandScaping)

Advantage of Working With Us

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