Accounting Services

Simplifying year-end with cloud accounting. Your solution for small business financial statements and tax compliance.

Make Year-End a Breeze with Cloud Accounting

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.

Why Professional Year-End Services Matter

The benefits of working with a CPA for your corporate accounting

Meet Deadlines

Never worry about late filing penalties. We ensure your T2 return and financial statements are completed and filed on time, every time.

Minimize Taxes

Identify legitimate tax-saving opportunities through strategic planning. Pay what you owe, not a penny more.

Ensure Accuracy

Avoid costly errors and CRA audits with professionally prepared financial statements that comply with Canadian accounting standards.

Stay Compliant

Navigate complex tax regulations with confidence. We stay current on all CRA requirements so you don't have to.

Understand Your Performance

Get clear insights into your profitability, cash flow, and financial position. Make better business decisions with accurate data.

Impress Stakeholders

Professional financial statements build credibility with banks, investors, and business partners when you need financing or support.

What's Included in Our Year-End Services

Comprehensive accounting and tax services for incorporated businesses

Compiled Financial Statements

Professional preparation of your annual financial statements in accordance with Canadian accounting standards.

What's Included:

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.

T2 Corporate Tax Return

Complete preparation and filing of your corporate income tax return with the CRA.

What's Included:

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.

Tax Planning and Strategy

Proactive strategies to minimize your corporate and personal tax burden within CRA guidelines.

What's Included:

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.

Year-End Timeline for Canadian Corporations

Understanding key deadlines helps you plan ahead, avoid penalties, and make the most of available tax strategies before the year closes.

Key Dates for Canadian Corporations

Year-End Date

Your corporation's fiscal year-end (often December 31, but can be any date you choose).

6 Months After Year-End

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

2-3 Months After Year-End

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

Work With Us: 4-6 Weeks Before 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.

Good Bookkeeping Makes Great Year-Ends

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.

✓ Current Bookkeeping

→Year-end completed in 2-3 weeks
→Lower accounting fees
→File early, get refund faster
→Time for tax planning
→Less stress

✗ Behind on Bookkeeping

→Year-end takes 2-3 months
→Higher catch-up fees
→Risk of late filing penalties
→Miss tax planning opportunities
→Last-minute scramble

Already behind? We offer bookkeeping catch-up services to get you current. Learn more about our bookkeeping services.

Frequently Asked Questions

Get answers to common questions about corporate year-end and T2 returns

When is my corporate tax return due?

Your T2 corporate income tax return must be filed within 6 months of your fiscal year-end:

December 31 year-end = June 30 filing deadline
March 31 year-end = September 30 filing deadline
June 30 year-end = December 31 filing deadline

Important: While you have 6 months to file, you have much less time to pay any taxes owing:

CCPCs: 3 months after year-end
Other corporations: 2 months after year-end

Should I take salary or dividends from my corporation?

This is one of the most common questions we get, and the answer depends on your specific situation.

Salary advantages:

Creates RRSP contribution room
Qualifies for CPP (builds retirement benefits)
Can be better if you have losses to offset
Tax deductible to the corporation

Dividend advantages:

No CPP premiums (saves approximately 11% up to $7,000+ per year)
No payroll administration
Can be more tax-efficient in certain income ranges
Eligible dividends taxed at lower personal rates

What if I am behind on my corporate tax returns?

We help businesses get caught up all the time. Here is what you need to know:

The situation:

Each unfiled year accrues late filing penalties
Your corporation may be struck from the BC/Alberta corporate registry
You cannot access the small business deduction without being compliant
Banks will not lend without current financial statements

Our catch-up process:

Assessment: We determine what years need to be filed
Bookkeeping: We get your books current for all outstanding years
Year-end preparation: We complete financial statements for each year
T2 filing: We file all outstanding returns with the CRA
Penalty relief: Where applicable, we request taxpayer relief for penalties

What documents do I need to provide for year-end?

What you need to provide depends on whether your bookkeeping is current:

If you have ongoing monthly bookkeeping with us:

We already have most information
You will need to confirm fixed asset purchases or disposals, shareholder loans, and any non-business expenses to adjust

If bringing year-end work without ongoing bookkeeping:

Banking: All bank and credit card statements for the year
Invoices: Copies of all sales invoices or revenue documentation
Expenses: All expense receipts and invoices
Payroll: T4 summary and copies of all T4 slips if you have employees
Assets: Details of any equipment, vehicles, or property purchased or sold
Loans: Loan statements showing principal and interest breakdown
Investment income: T5 slips for any investment income
Prior year: Previous year's T2 return and financial statements

Digital records: We accept digital receipts via email, Hubdoc, or direct upload. You do not need paper copies.

Our recommendation: Keep digital copies of everything throughout the year using a service like Hubdoc or QuickBooks receipt capture. This makes year-end much faster and eliminates the scramble to find receipts.