Corporate Tax Returns (T2) for BC Corporations

Every incorporated business in Canada has to file a T2 corporate tax return each year, even if it made no money. We prepare and file your T2 and year-end financial statements at a fixed price, so you know the cost up front and your return goes in on time.

Who this is for

• Incorporated trades and service businesses: contractors, locksmiths, door and security installers, consultants, IT contractors, clinics and agencies
• Holding companies
• Corporations that are behind on one or more years of returns
• Inactive corporations that still need to file

What's included

• Year-end financial statements prepared from your books (QuickBooks Online or other records)
• Your T2 corporate tax return, filed electronically with the CRA
• Small business deduction and other claims your corporation qualifies for
• A clear summary of what you owe or get back, and when to pay
• Your questions answered by the person who prepared your return

Pricing

You get an exact fixed price after a short call, once we know the size of your file. No hourly billing.

How it works

1. Book a 15-minute call. We go over your corporation, year-end and records.
2. Send your records. Bank and credit card statements, or access to your QuickBooks file.
3. We prepare everything. Year-end statements and the T2, then we walk you through the numbers.
4. You sign, we file. The return goes to the CRA electronically and you get a copy for your records.

Why J&O Financial

• Corporate tax and bookkeeping for BC businesses since 2013
• Fixed prices, no surprise invoices
• Fully remote, anywhere in BC
• We work in English, Russian and Hebrew
• 5.0 stars on Google

Frequently asked questions

Does my corporation have to file a T2 if it had no income?

Yes. All resident corporations, including inactive ones, have to file a T2 return every tax year, even if there is no tax payable.

When is my T2 due?

Within six months after the end of your corporation's tax year. For example, if your year ends on the last day of a month, the return is due by the last day of the sixth month after it.

When do I have to pay the tax?

Usually earlier than the filing deadline: generally two months after your year-end. Many small Canadian-controlled private corporations that claim the small business deduction get three months, if they meet the CRA's conditions. We tell you your exact payment date.

What happens if I file late?

If you owe tax, the CRA charges a penalty of 5% of the unpaid tax, plus 1% for each full month the return is late, up to 12 months, plus interest. Filing on time matters even if you can't pay right away.

I'm behind on several years. Can you help?

Yes. We catch up the books and file the overdue returns, oldest first, and tell you what to expect before we start. More on late and catch-up returns.

Do you also do bookkeeping?

Yes. Many clients have us do monthly bookkeeping in QuickBooks Online, so year-end is quick and there are no surprises.

Areas we serve: Vancouver · Burnaby · Richmond · North Vancouver · anywhere in BC, remotely

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