Corporations located in Ontario are required to file an annual corporation tax return (T2) with the Canada Revenue Agency. The corporation will remit its federal and Ontario taxes through one combined annual filing with the Canada Revenue Agency.
Why Use a Public Accountant?
With the increased complexity in Canadian corporate tax laws, it is almost essential to use the professional services of a qualified accountant to prepare the annual corporation tax return. Most owner-managers want the peace of mind of filing the annual tax return accurately and want to stay away from the hassles of having to deal with the Canada Revenue Agency (CRA) in the event they don’t. However you also want to ensure that relevant questions are being considered to ensure you are benefiting from all the tax mechanisms that can legitimately save tax for your company. Since you, as the owner-manager, are also subject to personal tax, you also want to ensure that the combined corporate and personal tax planning strategy is in your best interest.
At Logan Katz LLP, we have a designated team of accountants ready to work with you. Heading our small business tax practice are Gary Katz, C.A. and Jason Valente, C.A., both having completed the CICA in-depth tax course, and they are complemented by a brilliant team of accounting technicians who will ensure the corporate tax returns are prepared accurately and on a timely basis.
How We Work
As a small business owner-manager, you need personalized tax services from people who will take time to get to know you, meaning our service delivery goes beyond being there for you at year end. If you require additional assistance with CRA audits, requests for information, or whether you need advice at any time in the year, we will be around to assist you. In the ever-changing business world we all operate in, you regularly become faced with issues and questions that you need to run by a professional. Why not start with us? If we can’t help you immediately, we may be able to guide you in the right direction and/or to the right people. We’ll return your calls and respond to your emails...always in a courteous and timely fashion.
Up To Date!
Logan Katz ensures our staff remains abreast of all developments in this area by enrolling them in annual professional development courses—the last thing you need is for an important new tax issue not being factored in to your company’s situation.
Our main area of expertise lies with small to medium sized businesses. Owner-managers and family-managed businesses are our bread and butter. However, we also serve several larger, more complex corporations. Our tax services are comprehensive and cover a wide range of issues, including claims for Scientific Research and Experimental Development tax credits (SRED). With a network that includes professionals well-versed in the technical side of SRED claims, we will guide you from start to finish to ensure you file a clean and complete SRED claim to CRA.
We also deal with the following:
Though we serve clients involved in a wide spectrum of industries, we have particular expertise with the following:
- cross border issues
- apprentice tax credits
- Québec tax returns
You’ve Fallen Behind?
- high-tech firms
- professional corporations (medical; dental; legal)
- real estate
As CRA’s information systems become increasingly effective in monitoring taxpayers, your corporation may find itself in the precarious situation of having become delinquent with several tax filings. Such dealings with the CRA can be intimidating and stressful. No worries! Call us, and we’ll take over. With your assistance, we’ll help you catch up, initiate dialogue with CRA, and ensure you are well-represented with them.
If your corporation’s needs and realities have evolved such that the current structure is no longer appropriate, we will team up with your lawyers to plan and execute a corporate reorganization to generate a corporate structure that will be more in line with your needs.
Whether you plan to sell the company, bring on new investors, transfer its operations to your children, or if your family situation has changed, we will ensure the corporate reorganization reflects this and that it will be appropriate with a long-term view.
United States Tax
Our tax team is well-versed in the preparation of US corporate tax returns. Whether your company is a resident of the United States, conducting business in the US, or if you are moving to or returning from the US, you may benefit from our services. Your company owns real estate in the US? You could be faced with US filing requirements even if you do not operate in the US. Call us for more information.
You will find that our fees will be well worth it and that they become an investment in your financial stability and well-being—our clients regularly tell us exactly this!