CORPORATE FINANCES

Updated and accurate financial statements are vital to a corporation's success. Decisions for purchasing, leasing, hiring additional staff, loans and many others are in part based on the financial information available at that time. Inaccurate or incomplete financial information often lead to poor decisions which could be detrimental to a corporation.

At Scotts' Accounting Service we go the extra mile to ensure your financial statements are accurate and current enabling corporations to make decisions based on real numbers. Local, Provincial and Federal  corporate guidelines change.  Scotts' Accounting Services will provide you with the information you need to make those corporate decisions.

Income Tax Preparation

Let our experienced professionals take the hassle out of filing your small business or corporate income tax returns. Scotts' Accounting Services provides professional, accurate preparation of income tax returns for Canadian taxpayers.

 Using the latest software, we offer: 

• corporate tax returns with annual filings such as T4s, T5s, EHT, and Workers’ Insurance
• year-round, full-service bookkeeping related to the preparation of income tax returns
• electronic filing (E-File) to reduce processing time so you get your refund faster
• income tax assistance including advice on business start-up, established and growing businesses whether proprietorship, partnership, corporation, business planning and structure

Don't miss out on putting some money back into your pocket. Call the professionals who stand behind their work and ensure you receive all the deductions you are entitled to.

Business Tax Deadline Dates:

• Corporate tax returns must be filed within 180 days of the year-end.
• Any taxes owed must be remitted to the Receiver General and Minister of Finance within 60 days of the year-end for investment holding corporations and within 90 days of the year-end for active business corporations.
• Installments monthly, End of month (No installments required if previous year's taxes were less than $1000 Federally and $2000 Provincially)
• Special rules apply for Not-for-Profit and Registered Charity Returns (Please seek the advise of a professional)
• Change of address is the responsibility of the taxpayer to advise CRA.
• Electronic filing is now available to corporations.

Corporate Year-ends:

• First year-end must be within 53 weeks of date of incorporation. Once year-end is set, it cannot be changed without written permission of Canada Revenue Agency
• T4, T4A-Statement of Employee Earnings, End of February
• T5-Statement of Interest/Dividend/Other Investment Income, End of February
• T3-Statement of Interest/Dividend/Other Investment Income from Trusts, End of February
• NR4-Non-Resident payments and withholding taxes, End of February
• Workers' Safety Insurance-Annual return, March 15th

Filing deadlines are subject to change by Canada Revenue Agency or the Minister of Finance. It is the taxpayer's responsibility to be aware of these deadlines and file accordingly.

Scotts' Accounting Services has been serving Mildmay, Fergus, Mount Forest, Walkerton, Grey Bruce, Wellington and Guelph for over 25 years.