Small Business Tax Accountant in Northumberland County

With Pivotop Accounting Services you can rest assured that your small business will be in the best hands. Our professionals are dedicated to providing cost-efficient corporate tax services for small to medium-sized businesses, helping them make decisions about their growth strategy with confidence and ease! We believe that the most effective tax strategies are those aligned with your company’s operations and integrated into its overall business plan. Our business accountants have years of experience in corporate taxation, delivering efficient tax preparation services for all types of businesses – big or small! Small business owners know that they need professional support when it comes time to manage taxes within their industry – which is why we offer comprehensive service at competitive rates with an emphasis on practicality and integration into overall company strategic plans.

Corporate Tax Services

Corporate Tax Preparation & Filing Business Taxes

Pivotop Accounting Services provides business tax services in Cobourg and Northumberland County for small or medium-sized companies. As your accountants, we know how important it is to plan ahead when filing taxes so that you can file correctly on time each year. We will walk with you through the process of preparing all necessary paperwork needed from income returns through GST/HST filings – ensuring a smooth experience this season!

Tax Preparation & Filing Business Taxes

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Frequently Asked Questions

What is corporation tax?

Corporation tax is a type of government imposed on companies. It’s the duty that every company must pay, and it can come from any jurisdiction in which they operate as long as there’s an applicable rate for them to follow.

How is corporation tax calculated?

The Canadian government takes 38% of your taxable income to calculate corporate tax. This comes out 28%, after you’ve claimed the federal reduction for small businesses like yours!

Where do you pay corporation tax?

The Canada Revenue Agency is the institution that manages taxes for corporations. Just like personal income tax, you can do this through your website or online banking with an accountant from Pivotop Accounting Services if needed!

How to calculate corporation tax for small business

At Pivotop Accounting Services, we specialize in small business tax for Cobourg. We will help you calculate your corporation income tax and identify the taxes that are rightfully owed.

What is the difference between income tax and corporate tax?

The difference between income tax and corporation tax is that companies pay corporate taxes based on their profits whereas individuals have to file a return for each year reporting any earnings they may have had.

Why are corporate taxes so important?

Corporation taxes are a mandatory contribution to public services and help fund major infrastructural projects such as airports, roads and bridges.

When are corporate taxes due in Canada?

You must file your Canadian corporate taxes six months after the fiscal year-end. However, you must pay your corporation taxes in three months if there is a tax payment.

When are corporate taxes due in Canada?

You must file your Canadian corporate taxes six months after the fiscal year-end. However, you must pay your corporation taxes in three months if there is a tax payment.

What do I need to give my accountant for small business taxes?

To pay and file your small business taxes, you will need to provide your small business tax accountant with the following:

A financial statement
Capital-asset activity
Business vehicle usage & details
A summary of your home-office expenses (if you have a home office)
Form 1098 (This is for your mortgage interest and property taxes)

How long do you keep tax records for small businesses in Canada?

Pivotop Accounting Services suggests you keep business tax records for at least six years after the end of any taxation year in which they were claimed because Canada Revenue Agency could ask you to provide any record in most recently six years.

What will tax preparation cost me?

We’re here to help you with your taxes! We offer personalized tax preparation services for businesses of all sizes, and our fees depend on the assistance needed. To learn more about our rates, contact us today – we’ll be able to provide an accurate quote based on what specific needs are in store.

T1 for Sole-Proprietors

A sole proprietor is the exclusive owner of a business who bears all responsibility for managing that company. They are liable to pay taxes on any income or losses, but can claim credits like timing their year accordingly depending on where they operate in Canada (e.g., small companies).

A representative will act as an interface between you and your T1 return; ensuring everything goes smoothly with filing timely returns so there aren’t fines involved!

T2 Corporation Income Tax Returns

Except for registered charities, Hutterite colonies, and tax-exempt Crown corporations, all corporations in Canada must file a corporate income tax return.

This corporation tax return, known as a T2, must be filed even if your business has no tax to pay.

We help you and your business meet corporate income tax obligations.

T1 For General (including US income)

We offer T1 tax returns for Canadian income, US income and other foreign income.

We provide personal income tax return preparation and filing for the following case:

Employment income
Investment income
Rental income
Tuition claims for students
Deceased individuals
Canadian Snowbirds

GST/HST Returns

As per the regulations outlined by the Canadian Revenue Agency, businesses registered with GST/HST accounts must file GST/HST returns at regular intervals. You can either do this yourself or get help from Pivotop Accounting Services and have them prepare and file it for you!

Non-Resident Tax Issues

If you’re not a Canadian resident and need to file taxes, then you will need to file a T1-NR Tax Return.

This applies if you…

Routinely live in another country
Don’t have residential ties in Canada
Live outside the country during the tax year
Stay in Canada for under 183 days in the tax year

If you are looking to file a T1-NR tax return, we can help. We walk through all the income tax rules that apply for non-Canadian residents and will identify your right avenue of filing taxes with us!

When a Non-Resident disposes of certain Canadian properties, you need to get a tax clearance certificate in a limited time frame. Pivotop Accounting Services is experienced in helping you to get your Certificate of Compliance from CRA quickly.

Tax Audit Representation

If you are receiving a letter from the CRA, we can help take off your shoulders. Our experts offer tax audit representation services and deal with CRA on behalf of you so you don’t have to worry about it yourselves! If this is something that worries or concerns you then contact us right away.

Tax Planning

If you hope to optimize your financial elements and pay minimized tax lawfully, please consult with a tax expert in Pivotop Accounting Services. We discuss your financial situation and provide you with a customized tax plan to fit your unique scenario.

Business Advisory

We are happy to advise your business for:

Tax Audit representation
Appeals
Amendment of prior years tax returns
Tax estimates

GST/HST New Housing Rebate

Did you recently purchase your new home? The Canada Revenue Agency is offering an exciting rebate for those who buy homes in certain regions of the country. We will help identify if this applies to YOU and then compile all necessary documentation so that we can apply before time runs out!

Current new housing rebates include:

Houses Purchased From a Builder
Provincial New Housing Rebates (British Columbia, Nova Scotia, Ontario, PEI)
Transitional New Housing Rebates for a First Reseller
GST/HST Transitional Rebate
GST/HST New Residential Rental Property Rebate

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