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At Tax Filings Canada, we handle every part of your due-diligence accounting support, 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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Stay compliant and optimize your financial processes with our specialized due-diligence accounting support services.
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Tax Filings Canada provides cheap, fixed-fee due-diligence accounting support across Canada: cash-flow forecasts, budgets, KPI dashboards and board-ready reporting, built for scaling businesses that need finance leadership without the headcount, with payment only after your work is complete.
Start by sharing your documents; a quick checklist from us tells you exactly what we need.
Our team gets to work on your due-diligence accounting support file, preparing every schedule that applies to you.
Before anything goes out, you see the full picture and sign off at your own pace.
With your approval in hand, we handle the filing and let you know the moment it is done.
| 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 |
A rolling thirteen-week cash-flow forecast is the single most used tool in our advisory work — it is what keeps payroll safe through a slow quarter. Because the fee is fixed and cheap, the economics stay predictable whether your file is simple or messy.
What follows is the working view of a tax preparation specialist who prepares due-diligence accounting support week in, week out — the points that decide real files.
Before anything else, one rule sets the frame. Planning has to be in place before the transaction. The salary-versus-dividend mix, the timing of a capital purchase and the choice of year-end all change the outcome, but only prospectively. Almost every planning opportunity we see missed was available and simply not taken in time; very few are recoverable after year-end.
The detail that surprises most owners comes next. Interest is deductible where the borrowed money is used to earn income from a business or property. The test is what the money actually funded. The paper trail linking each borrowing to its use is what supports the deduction when the loan and the spending sit years apart. One more, because it surfaces in reviews constantly: Amounts received for services not yet performed are included in income when received, with a reserve available only where the statutory conditions are met. A cash balance built out of customer prepayments can carry a tax liability inside it. That is why deferred revenue is not a financing source.
None of this requires you to become an expert — that is what engaging an income tax specialist is for. What it does require is recognizing that due-diligence accounting support will reward preparation over improvisation. Nothing slows a file like missing records, so for due-diligence accounting support begin with.
The fee is fixed and agreed before any work starts, you review every figure, and payment happens only after the work is done.
Providing transparent fixed pricing and high-quality compliance work for your due-diligence accounting support requirements.
Coverage: Standard bookkeeping and due-diligence accounting support 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 due-diligence accounting support needs?
Providing tailored due-diligence accounting support 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.
Risk-Free, Hassle-Free, and Client-First!
Schedule a Free ConsultationUse our office finder below to select your nearest accountant tax filing expert.
See how our expert Due-Diligence Accounting Support tax and accounting services have helped Canadian businesses save money and stay compliant.
A subscription business tracking churn in London, Ontario was preparing to sell. However, a single shareholder holding every share, with no room to multiply the exemption disqualified the shares. Purification sheltered $220,000 under the exemption.
A subscription business tracking churn in London, Ontario had an offer on the table and 17 months to close. The shares did not qualify for the capital gains exemption. A single shareholder holding every share, with no room to multiply the exemption was part of the reason. We purified the corporation so the shares met the qualifying tests. We rebuilt the reporting around gross margin by service line, which showed two of five offerings were losing money at the current price. All of it was done well ahead of the closing date. The sale closed on schedule with $220,000 sheltered by the lifetime capital gains exemption across the shareholders.
A corporation approaching a covenant test date in Lethbridge, Alberta had already been penalised. The issue was a healthy bank balance made up almost entirely of deposits for work not yet performed. A relief application cancelled $112,000 of that penalty.
A corporation approaching a covenant test date in Lethbridge, Alberta had already missed one deadline and was about to miss a second. Behind it sat a healthy bank balance made up almost entirely of deposits for work not yet performed. A penalty of $112,000 was accruing. We split the work into what had to happen before the deadline and what could follow it. Then we set a quarterly tax provision, so the instalments and the year-end balance were funded before they came due. The outstanding return was accepted as filed, and the taxpayer relief application cancelled $112,000 of the penalty already assessed on the earlier year.
Growth at a distributor entering a second province in Burnaby, British Columbia had outrun the back office. A covenant breach discovered only when the bank called broke first. Headcount reached 22 with $95,000 of cash freed.
A distributor entering a second province in Burnaby, British Columbia was growing fast, with headcount reaching 22 in eighteen months. The back office had not kept up. A covenant breach discovered only when the bank called was the first thing to break. We traced each borrowing to what it actually funded and kept the interest deduction on the portion used to earn business income. We built the compliance calendar for the size the business was becoming rather than the size it had been. The business reached 22 staff with no missed remittance and no late filing. $95,000 of working capital was freed in the process.
The CRA had assessed a company hiring its first finance staff in Toronto, Ontario on estimates across 4 unfiled years. Real filings vacated $35,000 of that tax.
4 years of unfiled returns had turned into notional assessments at a company hiring its first finance staff in Toronto, Ontario. Underneath lay a borrowing drawn for an unrelated personal purchase with the interest claimed against the business. Collections had already started. We produced a board-ready monthly package — cash, margin, pipeline and covenant headroom — that replaced a spreadsheet nobody trusted. We then filed every outstanding year in chronological order so the CRA could vacate the notional assessments cleanly. All 4 years were accepted as filed. $35,000 of arbitrarily assessed tax was vacated, collections action stopped, and the account is current for the first time in 4 years.
The ledger at a clinic group acquiring a competitor in Brampton, Ontario could not support its own filings. The reason was an owner making hiring decisions on last quarter’s bank balance. Rebuilding it surfaced $19,000 in unclaimed input tax.
A clinic group acquiring a competitor in Brampton, Ontario could not answer basic questions about its own numbers. An owner making hiring decisions on last quarter’s bank balance sat between the bank statements and the ledger. We modelled the covenant ratios monthly and restructured the debt before the next test date rather than after it. We then documented the process so the work does not depend on any one person remembering how it was done. Records rebuilt and reconciled, $19,000 recovered in input tax credits that the old file could not support, and a documented monthly process now in place.
A mid-sized professional services firm in Calgary, Alberta faced a $12,000 proposed reassessment. It came after a monthly report that stopped at the income statement, with no balance sheet and no cash view. We rebuilt the documentation and the adjustment was withdrawn in full.
A mid-sized professional services firm in Calgary, Alberta received a proposal letter opening a review of due-diligence accounting support. The CRA had identified a monthly report that stopped at the income statement, with no balance sheet and no cash view. It proposed an adjustment of $12,000, with 30 days to respond. We treated the response as an evidence exercise rather than an argument. We built a rolling thirteen-week cash-flow model, tightened collections, and renegotiated supplier terms so the growth stopped consuming the bank balance. We then indexed every supporting document against the specific line the auditor had questioned. The proposed adjustment was withdrawn in full — all $12,000 of it. The file closed in 7 weeks with no change to the assessed amounts and no penalty.
Meet the specialists behind your Due-Diligence Accounting Support filings. Our Partners Are Alumni of the World's Top Accounting and Tax Institutions
CA (ICAI), CA (MIA), CPA Canada (In-Depth Tax Program)
Canada Tax, International Tax, Cross Border Tax, Transfer Pricing
International Tax, Transfer Pricing Specialist
CA (ICAI), Canada Tax Expert
CA. Fractional CFO and Senior Advisory Specialist
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.
Due-Diligence Accounting Support 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 due-diligence accounting support 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.
An accountant answers this differently than a search engine, because the rule has edges. A fractional CFO covers forecasting, banking relationships and pricing decisions for a fraction of what a full-time hire costs. Where your business sits relative to those edges is what we establish in the first meeting.
There is a widespread assumption here, and the actual position is worth stating plainly. Gross margin by product or service line, not overall revenue, is what tells an owner which work to take more of. A business can grow revenue and lose money at the same time. If your current setup was built on the assumption instead of the rule, that is fixable — but sooner is better than later.
The questions Canadians actually search on this topic, answered plainly. Browse every question in the Canadian tax answers directory.
For the 2025 tax year the filing and payment deadline is 30 April 2026. If you or your spouse were self-employed, the filing deadline moves to 15 June 2026, but any balance owing is still due 30 April 2026. Interest starts the day after the payment deadline, and a late-filing penalty applies on top when a return with a balance owing is filed late. File on time even with nothing owing, because income-tested benefits are recalculated from the filed return.
File a T1 return for the year, sending it electronically with CRA-certified software or mailing a paper return. Gather your slips and receipts first and check them against the ones listed in My Account. For the 2025 tax year the filing and payment deadline was 30 April 2026, or 15 June 2026 to file if you or your spouse were self-employed, with payment still due 30 April 2026. CRA online filing for 2025 returns closes 29 January 2027.
A tax deduction is an amount subtracted from your income before tax is worked out, so it reduces the income being taxed rather than the tax bill directly. Its worth depends on your marginal rate: the higher the rate, the more the deduction saves. Common examples are RRSP contributions, child care costs, union dues, moving expenses and business expenses. Credits work the other way, reducing the tax calculated on that income.
The basic personal amount is a non-refundable credit that shelters a base level of income from federal tax, so income below it carries no federal tax. The amount is indexed every year, and the enhanced portion is phased out across the second-highest federal bracket, so taxpayers in the top bracket receive only the base amount. Each province and territory sets its own version. On Form TD1 you claim it so your employer withholds less; claim it with one employer only, or too little tax is withheld.
A non-refundable credit reduces the tax you owe to zero but no further, so any unused part is lost, carried forward, or transferred to a spouse or parent where the rule allows it. A refundable credit is paid to you even when no tax is owed, which is how benefit-style payments reach people with little or no income. Most personal credits on the federal return, including the basic personal amount, are non-refundable.
Rental income is revenue, not an asset. In double-entry bookkeeping you credit a rental income account and debit cash or accounts receivable, so the income sits on the income statement while the receivable or bank balance sits on the balance sheet. The property itself is the asset, and the rent it produces is periodic revenue. Rent collected in advance is a liability, deferred revenue, until the month it relates to arrives.
Yes. Tips and gratuities are taxable income whether they come by card, through a pooled arrangement, or as cash handed straight to you. Controlled tips your employer distributes are already inside the employment income on your T4; direct and cash tips usually are not, so you report them yourself as other employment income. Keep a daily record, because the CRA can assess unreported tips from deposits and industry patterns. Servers, bartenders, stylists and drivers are all covered.
That is set by your employment contract or the settlement, not by tax law. Some packages continue health and dental coverage for a period, some pay it out in cash, and others end coverage on the last day worked. For tax, the cash portion is employment income reported on a slip, employer-paid premiums for continued coverage generally are not, and a cash payout of them is. Get the breakdown in writing before you sign.
Yes, when the unit is rented out. Strata or condo fees for a rental property are a current expense against the rental income, along with mortgage interest, property tax, insurance and repairs. If you rent the unit for only part of the year, or rent one unit and live in another, prorate the fees. A special assessment for a capital improvement is not a current expense; it is added to the building's cost.
Pension income splitting is the largest lever for most couples: up to 50% of eligible pension income can be reported by a lower-income spouse, and RRIF income qualifies from age 65. Beyond that, sequence withdrawals from registered and non-registered accounts to keep net income under the Old Age Security recovery threshold, use TFSA withdrawals that count as no income at all, claim the pension and age credits, and consider drawing down RRSPs before the plan must be wound up, which is by the end of the calendar year in which you turn 71 and not on your 71st birthday.
A refund is only the gap between tax withheld and tax owed, so it moves whenever either side does. Common causes are less tax taken off your pay, a second job or pension income pushing you up a bracket, a credit or deduction you claimed last year and not this one, repaying a benefit, or the CRA applying part of the refund to a balance owing. Compare this notice of assessment against last year's.
Day camps and day sports schools qualify as child care when you paid them so you could work, run a business or study, and the child meets the age and residency conditions. Overnight camps and boarding schools also qualify, but only up to a weekly limit per child rather than the whole fee. A program that is mainly instruction, such as music lessons or skills coaching, may not count. Keep the receipt showing the child's name and the care amount.
Reviewed and fact-checked by Udit Gupta
Ex Big 4 — Ernst & Young, Deloitte · International & cross-border tax specialist · CPA Canada (In-Depth Tax Program) · Chartered accountant, ICAI & MIA
Udit Gupta 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. In 2014 he founded his accounting practice to serve 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)
