Small Business Tax Preparation in Toronto

Who it’s for

Business tax can be complicated and time-consuming, but it doesn’t have to be. I work with:

• self-employed people and sole proprietors, including trades, contractors and freelancers
• small incorporated businesses
• people starting a business who want it set up properly from day one

I believe sitting face to face with clients and getting to know their business is how the work gets done efficiently and accurately.

What’s included

• Business tax planning before year end, so there are fewer surprises
• Self-employment income and expenses on your personal return (T1 with form T2125)
• Corporate tax returns (T2)
• GST/HST returns
• WSIB returns
• Help registering a new business

Pair it with bookkeeping and payroll, and your books are ready when tax time comes.

What to bring

• Your sales or income records for the year, and any T4A slips you received
• Business expense receipts, or your bookkeeping reports if you keep them
• Vehicle and home-office expenses, with business-use details
• Your GST/HST number and any returns already filed
• Last year’s Notice of Assessment, and your corporation’s financial statements and returns if you’re incorporated

Key dates to know

• Self-employed individuals: the return is due June 15, but any balance owing is due April 30.
• Corporations: the T2 return is due six months after your fiscal year end.
• GST/HST: you generally have to register once your taxable sales pass $30,000 over four consecutive calendar quarters.

These are general rules. I’ll check the dates that apply to your business.