Professional and accurate preparation and filing of your T2 Corporate Tax Return

Maximize your tax savings and minimize the risk of a CRA Audit

Tips to avoid the risk of a CRA Audit:
  • Keep accurate and complete records of all financial transactions
  • Ensure all income and expenses are properly classified
  • Report all income, including cash transactions
  • Claim only legitimate business expenses
  • Keep all receipts and documents for a minimum of 6 years
  • Seek professional advice if you are unsure about any tax laws or regulations
  • File your taxes on time to avoid penalties and interest charges

  • Keep accurate and complete records of all financial transactions
  • Ensure all income and expenses are properly classified
  • Report all income, including cash transactions
  • Claim only legitimate business expenses
  • Keep all receipts and documents for a minimum of 6 years
  • Seek professional advice if you are unsure about any tax laws or regulations
  • File your taxes on time to avoid penalties and interest charges

  • Large or unusual deductions or credits claimed on the corporate tax return
  • Consistently high gross profit margins in comparison to industry averages
  • A significant change in the corporation's financial situation or business practices
  • Failure to report all income or income from undisclosed sources
  • Inconsistencies or discrepancies between the corporate tax return and other filings, such as GST/HST returns or T4 slips
  • Participation in aggressive tax planning or offshore tax havens
  • Failure to report foreign assets or income
  • Lack of proper documentation or record-keeping
  • Failing to file corporate tax returns or filing them late
  • Having a history of previous audits or penalties from the CRA
  • Operating in a high-risk industry or sector
  • Being related party transaction and not reporting it properly
  • Not reporting all income, failing to file tax returns, or filing them late
  • Having a history of previous audits or penalties from CRA
  • Not having proper documentation to support claims.
Things to Be Mindful of to Reduce the Risk of a CRA Audit:
  • Large or unusual deductions or credits claimed on the corporate tax return
  • Consistently high gross profit margins in comparison to industry averages
  • A significant change in the corporation's financial situation or business practices
  • Failure to report all income or income from undisclosed sources
  • Inconsistencies or discrepancies between the corporate tax return and other filings, such as GST/HST returns or T4 slips
  • Participation in aggressive tax planning or offshore tax havens
  • Failure to report foreign assets or income
  • Lack of proper documentation or record-keeping
  • Failing to file corporate tax returns or filing them late
  • Having a history of previous audits or penalties from the CRA
  • Operating in a high-risk industry or sector
  • Being related party transaction and not reporting it properly
  • Not reporting all income, failing to file tax returns, or filing them late
  • Having a history of previous audits or penalties from CRA
  • Not having proper documentation to support claims.

Our team of experienced tax professionals will ensure your T2 Tax Return is filed accurately and on time, giving you peace of mind and saving you time and money.

Contact us today to learn more about our T2 Tax Return Filing Service and how we can help you stay compliant with CRA regulations while maximizing your tax savings.

Corporate Tax Returns

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North York, ON M2N 0G3