All incorporated businesses in Canada are liable for corporate taxes (T2 Returns).
The corporations are required to file returns no later than six months after the end of each tax year. The tax year for the corporation is its fiscal year. We provide expert advise on the allowable business expenses and help you maximize benefits.
Unincorporated businesses are not required to file T2 returns. These include sole proprietorships and businesses run by individuals as partnerships. Owners of unincorporated businesses are, however, subject to personal income tax on an individual basis.
At Tax Magic, our clients get adequate attention to ensure they are being taken care of. The goal is always to minimize taxes, maximize benefits and achieve our client’s individual goals with optimum satisfaction. We understand the current process of the clients and their needs and goals. We assess their existing resources to identify the gaps and plugin our resources and services for optimum results.
Since corporate tax filing is a bit complex process, we advocate an in-person meeting at least once to collect information necessary to help you minimize your taxes. Alternatively, we can schedule a virtual meeting or a telephonic conversation.
Note: We do provide T4 and T5 Services as well for the owner-managed business.
At Tax Magic we thrive to achieve our client’s goals. We aim to understand the client’s needs, so as to maximize benefits and minimize taxes.
