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At Tax Filings Canada, we handle every part of your accounting, from the filing itself to the planning around it. Our accountants work with corporations and business owners every week, so you can focus on running and growing your business.
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Accounting ties the whole financial picture together: the bookkeeping that captures transactions, the reconciliations that prove them, the financial statements that summarise them, and the corporate return that reports them to the CRA. We provide the complete cycle so nothing falls between a bookkeeper and a tax preparer who do not talk to each other.
The value of a single accounting relationship is consistency: your GST/HST, payroll, financial statements and T2 all reconcile because the same team prepares them. We produce GIFI-ready statements, manage the year-end close and adjusting entries, and file a complete corporate return, with planning built in year-round rather than a single conversation at deadline. Fixed fees and a pay-after-service model mean you know the cost and approve the work before it is filed.
Accounting services in Canada: Tax Filings Canada handles full-cycle accounting, from monthly reconciliation to year-end financial statements and corporate tax filing, on a fixed fee you pay after the work is done.
Share your records in one go or in pieces as you find them.
Our preparers work through your accounting file and note anything worth discussing.
You approve the final version only after your questions are answered.
We submit on your behalf and keep the paper trail organized for you.
| Factor | Tax Filings Canada | Typical Firm |
|---|---|---|
| Pricing model | Fixed, flat fee | Hourly / unpredictable |
| Payment | Pay after service | Upfront retainer |
| Price match | Yes, on written quotes | Rarely |
| CRA audit support | Included | Billed extra |
| Typical turnaround | 3-5 business days | 2-4 weeks |
Most Canadian private corporations do not need an audit. They need a compilation engagement, which since CSRS 4200 took effect must disclose the basis of accounting and cannot be issued where the accountant knows the information is misleading. This matters commercially, because lenders increasingly ask which engagement produced the statements. Knowing whether you need a compilation, a review or an audit is usually a five-figure decision made by default rather than deliberately.
These notes are written the way a tax consultant would explain Accounting across a desk: no theory, just the points that decide real files.
Ask any tax consultant where accounting files go sideways, and the answer usually traces back to this: A fiscal year-end cannot be changed by simply closing the books on a new date. Subsection 249.1(7) requires the CRA’s concurrence. The short transitional period is a tax year in its own right and needs its own return and its own statements.
The second point is quieter but costs more when missed. The CRA requires business records to be kept for six years from the end of the tax year they relate to, in a form that allows the return to be verified. Where records cannot support the return, the CRA is entitled to assess on its own estimate — and the burden of disproving that estimate falls on the taxpayer. On the record-keeping side, one rule governs what must be kept and what must be shown: A small corporation still carries the full compliance set: T2, GST/HST, payroll, and the annual return with the incorporating jurisdiction. The annual corporate return is separate from the T2 and is the one most often forgotten, which can lead to administrative dissolution.
Reading rules is one thing; knowing which of them your file actually triggers is another. An accountant closes that gap, and for accounting the gap is often wider than it looks. What you bring to the table determines how quickly the accounting work proceeds — start with the items below.
Whatever the file involves, the terms do not change: fixed fee agreed up front, review together before filing, payment after the service.
Providing transparent fixed pricing and high-quality compliance work for your accounting requirements.
Coverage: Standard bookkeeping and accounting preparation.
Ideal for early-stage startups and sole proprietors.
Book NowCoverage: Full-service bookkeeping, filings, and CRA compliance support.
Perfect for established small businesses.
Book NowCoverage: Strategic advisory and fractional CFO integration.
Ideal for companies seeking high-growth financial structuring.
Book NowWhy you should partner with Tax Filings Canada Experts for all your top accounting needs?
Providing tailored accounting services to ensure compliance and maximize deductions.
Our tax accountants keep your business compliant with federal and provincial tax rules.
A dedicated team that handles your financials quickly, accurately, and without upfront fees.
Dedicated preparation processes customized for Canadian businesses.
Advanced accounting software integrations with QuickBooks, Xero, and wave accounting.
Customized packages designed to grow as your business operations expand.
Our clear four-step workflow ensuring absolute tax optimization and complete CRA compliance.
Start with a free, no-obligation consultation to review your business’s financial, tax filing and compliance needs and outline our affordable solutions.
Receive a comprehensive checklist and securely provide the required financial records and documents.
Our tax accountant and accounting experts carefully prepare your filings, identify all applicable deductions and credits, and conduct thorough reviews.
We file your documents electronically with the Canada Revenue Agency (CRA) on time and provide post-filing support.
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See how our expert Accounting tax and accounting services have helped Canadian businesses save money and stay compliant.
29 months of records at a boutique fitness studio group in Mississauga, Ontario had never been reconciled. That left a bank that refused to renew an operating line without compliant statements. Rebuilding recovered $12,000.
Nothing reconciled at a boutique fitness studio group in Mississauga, Ontario. Every filing started with 29 months of cleanup. The file was carrying a bank that refused to renew an operating line without compliant statements. We rebuilt from source rather than correcting on top of the existing file. We separated personal and corporate spending, cleared the shareholder loan through a documented salary and dividend mix, and restated the comparative year. Then we set the routine that keeps it clean. 29 months reconciled to the bank. The close now takes 7 days, and $12,000 of previously unclaimable input tax was recovered in the process.
A $54,000 reassessment was proposed against a family-owned wholesale distributor in Hamilton, Ontario. It followed a year-end moved informally, leaving twelve months of trading reported as though nothing had changed. The documented response reduced it to nil.
A review notice arrived at a family-owned wholesale distributor in Hamilton, Ontario, covering accounting for two tax years. The auditor's working position was an adjustment of $54,000. It was driven by a year-end moved informally, leaving twelve months of trading reported as though nothing had changed. Rather than negotiate, we rebuilt the record. We set a monthly close calendar with a fixed cut-off, so the year-end became a review of work already done rather than a twelve-month rebuild. We then submitted a point-by-point response that answered each proposed adjustment with the document behind it. The auditor accepted the documented position and closed the review without adjustment, protecting $54,000 and leaving the prior filings undisturbed.
The structure at a machine-shop owner-operator in London, Ontario no longer fitted the business. Capital assets written off in full in the year of purchase, with no fixed-asset schedule behind the deduction showed it. Rebuilding it saves $54,000 a year.
The structure at a machine-shop owner-operator in London, Ontario dated from years earlier. It had been set up for a business that no longer existed. Capital assets written off in full in the year of purchase, with no fixed-asset schedule behind the deduction had become expensive. We reconciled the inter-company accounts, papered the arrangement with a written agreement, and aligned both corporations’ year-ends. The reorganisation used the rollover provisions rather than a taxable transfer, so no tax fell due on the restructuring itself. $54,000 of annual saving, achieved on a tax-deferred basis. The minute book, elections and valuations are all in the file.
A growing landscaping company in Kitchener, Ontario was overpaying instalments. The cause was a shareholder loan account that had drifted for three years with no supporting entries. Rebasing them returned $122,000 to the business.
A growing landscaping company in Kitchener, Ontario was paying instalments calculated on a prior year. That year no longer reflected the business. A shareholder loan account that had drifted for three years with no supporting entries was tying up $122,000 of cash. We rebased the instalments on the current-year estimate rather than the prior-year default. Alongside that, we built a fixed-asset continuity schedule from the purchase invoices. We set the capital cost allowance claim class by class rather than claiming the maximum by default. $122,000 of cash stayed in the business, the penalty cycle ended, and the instalment position is reviewed each quarter against actual results.
An owner-managed corporation preparing its first year-end in Moncton, New Brunswick had never tested its work against the eligibility rules. The resulting $88,000 claim was accepted without adjustment.
An owner-managed corporation preparing its first year-end in Moncton, New Brunswick assumed the credits did not apply to a business its size. A bank that refused to renew an operating line without compliant statements meant they had applied all along. We identified the qualifying activity and built the documentation to support it. Then we valued work in progress on one consistent basis and documented the method, so the comparative year could be relied on. $88,000 recovered. Because the eligibility analysis is on file, the same claim can be repeated each year with a fraction of the effort.
A specialty food importer in Lethbridge, Alberta was carrying $35,500 of penalties and interest. The charges arose from year-end statements that arrived four months late and never tied to the bank. A relief application cancelled that amount.
An assessment of $35,500 landed at a specialty food importer in Lethbridge, Alberta following a desk review. It turned on year-end statements that arrived four months late and never tied to the bank. The auditor had not seen the records behind it. We reconciled the general ledger to the GIFI schedules filed for each open year and corrected the two years where they disagreed. We then set out the legislative basis for the position alongside the documents supporting it. $35,500 of penalties and interest was cancelled under the taxpayer relief provisions, and the underlying assessment was adjusted to match the filed position.
Meet the specialists behind your Accounting filings. Our Partners Are Alumni of the World's Top Accounting and Tax Institutions
CA (ICAI), CA (MIA), CPA Canada (In-Depth Tax Program)
Cross-border tax for businesses and individuals, after a Big 4 career at Ernst & Young and Deloitte.
CPA (Canada), CPA (USA), CA (India)
US and Canadian returns prepared together, so relief is claimed once.
CPA (Canada), CA (India)
Fractional CFO work for businesses operating in Canada and India.
CA (India)
Payroll remittances and GST/HST returns, each filed on its own schedule.
FCA (India)
UAE and India residence, treaty positions, and transfer pricing work since 2014.
Same fixed fees in every province. Find your city or your sector.
Direct answers to what Canadian business owners actually ask before hiring an accountant.
Accounting starts at a fixed fee quoted before any work begins. The quote is locked at the outset and does not change mid-engagement, and you pay only after you have reviewed and approved the deliverable. Compare every plan on our transparent pricing page.
At minimum: prior-year returns and notices of assessment, your bank and credit-card statements for the fiscal period, payroll records if you have employees, and GST/HST filings. We send a checklist tailored to your situation after the free 15-minute call.
Most engagements are completed within 3 to 5 business days once your documents are complete. Catch-up work covering multiple years takes longer, and we tell you the realistic timeline before you commit rather than after.
We respond on your behalf at no extra charge for any return we prepared. Every figure we file is supported by documentation retained in your file, which is what turns a CRA review from a crisis into correspondence. See how our CRA audit representation works.
Yes. Late filing penalties compound at 5% of the balance owing plus 1% per month, so the cost of waiting is real. We prioritise catch-up work and, where eligible, file under the CRA's Voluntary Disclosures Program to reduce penalties.
Yes. We serve clients in every province and territory at the same fixed fees, so your location does not change the price or the service. Browse our coverage across Canada to find your city.
We work across construction, healthcare, e-commerce, professional services, restaurants, real estate, transportation, technology and non-profits, each with its own deduction profile and CRA scrutiny patterns. See all industries we serve.
Software applies the rules you already know about. An experienced tax accountant finds the ones you do not: capital cost allowance timing, the small business deduction threshold, shareholder loan repayment rules, and TOSI exposure on family dividends. The fee is usually smaller than the deductions it surfaces.
Our accounting services include complete filing, compliance management, and strategic advice customized to Canadian tax laws.
You can start by booking a free 15-minute call. We will review your files, provide a fixed quote, and start working immediately.
Related-party transactions have to be recorded at fair market value. A below-market charge between connected companies invites an adjustment on both sides of the transaction. We flag this early with every client it touches, because finding it out at filing time leaves you far fewer options than finding it out now.
The honest starting point is this: Capital cost allowance is permissive, not mandatory. A corporation can claim less than the maximum in a low-income year. It can leave the undepreciated capital cost in the pool for a year when the deduction is worth more, provided the schedule carries that decision forward consistently. Everything else we would tell you is tailoring, and tailoring requires seeing your file.
The questions Canadians actually search on this topic, answered plainly. Browse every question in the Canadian tax answers directory.
Options range from free community volunteer clinics for simple returns on a modest income, through NETFILE-certified software you use yourself, to a tax preparer or accounting firm that files on your behalf. Choose based on complexity: a single T4 is straightforward, while self-employment, rental property, investments or a corporation usually warrant professional help. Our fees are fixed and agreed before we start, and you pay after the service.
No. Capital is the owner's stake in the business, so it sits in equity, not liabilities. On a balance sheet, assets equal liabilities plus equity, and the capital account belongs on the equity side alongside retained earnings. Money the owner lends the business is different, because the business owes it back, and that is a liability. Keeping owner capital, owner loans and drawings in separate accounts prevents a messy reconciliation at year end.
Call the individual or business tax enquiries line listed on the CRA's Contact us page, then work through the automated menu to reach an agent. Have your social insurance number or business number, your date of birth and a line amount from your last assessed return ready, because the agent cannot discuss your file without them. Wait times are longest right after the filing deadline. My Account answers many questions without a call.
No. Quebec never joined the HST. The 5% GST applies there alongside a separate Quebec sales tax of 9.975%, charged on the pre-GST price, giving a combined 14.975%. Revenu Quebec administers both taxes for most businesses, so registration, returns and remittances usually go through it rather than the CRA. Selling into Quebec from another province can create a QST registration duty of its own, separate from your GST/HST account.
Yes. Rent from a room in your home is taxable and is reported as rental income on your T1. You may deduct a reasonable share of expenses such as utilities, insurance, mortgage interest, property tax and repairs, prorated by the space rented and the part of the year it was rented. Claiming capital cost allowance on the building can put part of your principal residence exemption at risk, so most homeowners do not. Keep receipts six years.
Sign in to My Account or My Business Account, open your profile and edit the telephone number there; the change applies immediately. Without online access, call the individual or business enquiries line and verify your identity, or send the change in writing to your tax centre. Keep the number current, because the CRA uses it for identity verification, multi-factor sign-in codes and contact about assessments, so a stale number can lock you out.
Sign in to CRA My Account and open the section for your returns, where assessed returns, notices of assessment and reassessment notices are held for several years. You can also request a proof of income statement, ask the CRA by phone for copies, or ask whoever prepared the return for their file copy. Keep your own records six years from the end of the last tax year they relate to.
Property tax is an annual charge a municipality levies on real estate to fund local services such as roads, water, policing, fire and schools. A provincial assessment authority values the property, council sets a tax rate in its budget, and the bill is the assessed value multiplied by the rate for your property class. Unpaid amounts stay attached to the property itself. It is separate from income tax, so the city bills it, not the CRA.
No. In Canada severance, pay in lieu of notice and a retiring allowance are fully taxable in the year you receive them. There is no tax-free slice of a redundancy payment the way some other countries allow, and tax is withheld before payment. A direct transfer to an RRSP is available only for older years of service under a narrow rule, so your ordinary RRSP room is usually the only shelter. Have settlement wording reviewed before you sign.
Yes. A television is an ordinary taxable good, so GST at 5% for 2026 applies, or HST instead in the HST provinces: 13% in Ontario, and 14% in Nova Scotia since 1 April 2025. In British Columbia, Saskatchewan, Manitoba and Quebec, provincial sales tax or QST is charged alongside the GST. Electronic recycling or environmental handling fees may appear on the receipt and are generally taxable themselves.
From 1 October 2026, British Columbia applies 7% PST to several services that were previously untaxed: accounting and bookkeeping, architectural, engineering and geoscience, security and private investigation, and non-residential real estate services. Architectural, engineering and geoscience fees are taxed on 30% of the purchase price rather than the full amount. Providers not already collecting PST must register online, and can do so up to six months before their first taxable sale.
Price tracks complexity rather than a standard rate. A return with a few slips and ordinary credits sits at the low end, while self-employment, rental property, investment dispositions, foreign reporting or a corporate return each add work and cost. Ask for the fee in writing before anything starts, and confirm what it covers, including filing, CRA correspondence and any later adjustment. Our fees are agreed before work begins and you pay after the service, with a free 15-minute consultation to scope the job.
Reviewed and fact-checked by Udit Gupta
Ex Big 4 — Ernst & Young, Deloitte · Director, cross-border tax expert · CPA Canada (In-Depth Tax Program) · Chartered accountant, ICAI & MIA
Udit Gupta, a Director of Tax Filings Canada and a cross-border tax expert, has over 15 years of experience helping corporations and business owners with corporate structuring, corporate tax filing, bookkeeping, payroll, GST/HST, cross-border tax and CRA representation. He is Big 4 trained, at Ernst & Young and Deloitte, and qualified as a chartered accountant in India and again in Malaysia. Since 2014 he has worked with entrepreneurs, startups and non-resident business owners across Canada. View full member bio.
The Institute of Chartered Accountants of India — member 521458 · Malaysian Institute of Accountants — member CA 44667 · Ex Big 4: Ernst & Young, Deloitte · CPA Canada (In-Depth Tax Program), completed 19 Dec 2023 · In-Depth GST/HST Part I, 12 Jul 2022 · Part II, 5 Jul 2023
Editorial policy. Every page is researched against primary sources — the Income Tax Act, CRA publications and CPA Canada guidance — and every rate or threshold is stated with the tax year it applies to.
Sources. CRA — Businesses · Income Tax Act (Justice Laws Website)
