Experienced Corporate Tax Accountants in Mississauga
Corporate tax returns can consume a lot of your time. You don’t want that, especially if you are running a business. You have to look after the more important aspects of your business like customers, operations, sales, vendors, etc.
On top of that, the business has to be well-known in the online world nowadays as most people search for specific things by looking them up on google. So you also have to make sure that you have an excellent online presence as well.
At GTA Accounting, we provide a wide range of services related to finance. Our CPA and expert Accountants have vast experiences and required knowledge on the subject of corporate taxes in Mississauga. We provide value to our clients; that’s why we have many clients on our list with whom we have been working for a long time. We make sure that our professionals are up to date with CRA’s requirements and all the conditions for filing corporate taxes.
Our wide range of services include:
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Meet Our CPA
Steven Matos is a Chartered Professional Accountant at GTA Accounting, a Toronto-based accounting firm with offices in Toronto, and Mississauga. The firm touts a high 5-star Google rating and has been selected by Clutch for service awards two years in a row.
Because of Steve's business background, he is able to pair bookkeeping and tax services with management consulting providing an edge over other similar accounting firms. Offering affordable rates, GTA Accounting works with small business owners and large companies with over $40 million in annual gross revenue.
Unit 501 – 250 Consumers Road
North York M2J 4V6
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Types of Corporations in Canada
When you are thinking of starting a business in Canada, you have many choices for the business structure. One of the types is to create a corporation. There could be several reasons for choosing a corporation to form a business. It could help you reduce liability and offer good credibility. However, the most crucial reason for creating a corporation is that Canadian Corporations have a different tax calculation form than other kinds of business in Canada. The deductions are based on the type of corporation. Some corporations would be entitled to certain deductions and rates. So that’s why you have to know which category your corporation falls in. There are few types of corporations, and they are listed below.
As the name says, CCPC is a private corporation. There are some requirements that this corporation has to fulfill to fall under this category.
- The corporation was a resident in Canada from June 18, 1971, to the end of the tax year.
- Non-resident individuals do not have control over it, either directly or indirectly.
- Public corporations do not control it (except the prescribed venture capital corporation)
- It is not owned or controlled by a Canadian corporation that trades on an authorized stock exchange outside Canada.
This category of the corporation has to be a resident in Canada as well and be private. It should also meet the following requirements.
- It is not under the control of one or more government corporations.
- It is not controlled by one or more prescribed federal Crown corporations.
It is not under control by any of the corporations listed in the previous two conditions
A public corporation has stocks that are listed on the Canadian stock exchange. It has been elected or appointed by the National Revenue minister to become a public corporation. It complies with the mentioned condition under Regulation 4800.
This is a type of corporation which is a Canadian subsidiary of the corporation above. But, it wouldn’t qualify as a public corporation when you are filing the T2 Corporation income tax return.
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Benefits of Our Corporate Tax Services in Mississauga
If you are looking for an accounting firm to partner with, stop looking. Here at GTA Accounting, we will provide complete A-Z Corporate tax services in Mississauga.
Why Choose GTA Accounting?
Every year in Canada, legislators tweak and twist financial laws, leaving the average individual and business owner at a loss when faced with making financial decisions. We stay on top of new financial and tax laws on your behalf and offer custom made tax accounting and financial advice to help you and your business develop budgets and set financial goals. Still not convinced about what makes us a professional accounting firm? Read further below:
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