Fractal Accounting is a full service accounting firm that can provide a variety of tax services including corporate tax services; Fractal Accounting can act as your corporate tax accountant and provide corporate tax services anywhere else in the GTA. We also work with many of our clients through remote capabilities.
According to Canada Revenue Agency, all resident corporations (except crown corporations and resident charities) have to file a corporate income tax (T2) return every tax year even if there is no tax payable. This includes but is not limited to the following:
1.Non-profit organizations
2.Tax-exempt corporations
3.Inactive corporations
Fractal Accounting also provides corporate tax services to many of our business clients. One of our main services include translating accounting financial statements to what is known as tax financial statements or General Index of Financial Information (GIFI) financial statements. GIFI financial statements are used to file the T2 return and reconciles income for accounting purposes to income for tax purposes.
Other corporate tax services that Fractal Accounting provides includes filing nil returns for dormant or inactive corporations, innovative tax planning to ensure that your corporation falls within the Small Business Deduction Limit and your losses are being properly carried forward or carried back so that you are paying the least amount of corporate income tax.