Fixed-Fee. Trusted. Accurate. Quick. Easy. Economical.
100% Risk-Free, Satisfaction, Guarantee, Price Match – Pay After Service
At Tax Filings Canada, we handle every part of your project 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.
Secure Fixed Quote
Fill details below to lock in pricing and get started today.
Stay compliant and optimize your financial processes with our specialized project accounting services.
No hidden fees. Pay only after your service is completed. The fee is agreed before any work starts.
Project Accounting from Tax Filings Canada gives small businesses, corporations and startups year-end financial statements, T2-ready working papers and CRA-compliant records at a cheap fixed fee agreed before work begins — no hourly billing, no surprise invoices.
Send your documents securely through our portal or by email.
We prepare your project accounting and every supporting schedule.
You review each figure and approve before anything is filed.
We file with the CRA, and you pay only after it is complete.
| 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 |
Clean, reconciled books are what turn a T2 filing into a review rather than a scramble — and what stands up when the CRA asks for support. Because the fee is fixed and cheap, the economics stay predictable whether your file is simple or messy.
Clients often arrive treating project accounting as a form-filling exercise. In practice, a tax consultant spends more time on judgment calls than on data entry — and those calls are what these notes cover.
First, the rule that sorts straightforward files from complicated ones: 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.
The next point is the one a tax consultant checks before quoting any timeline: An expense is deductible where it was incurred to earn income and is reasonable in the circumstances. The business-use portion must be supported, which for vehicles means a logbook. The CRA rarely argues that an expense category is wrong; it argues that the proportion claimed was never substantiated. On the record-keeping side, one rule governs what must be kept and what must be shown: Compilation engagements follow CSRS 4200, which requires a basis-of-accounting note describing exactly how the statements were prepared. Lenders read that note, and an omitted one is the fastest way to have a financing package sent back.
None of this requires you to become an expert — that is what engaging an accountant is for. What it does require is recognizing that project accounting will reward preparation over improvisation. A productive project accounting engagement starts with paperwork, and the list below covers what to gather.
Every file we prepare is reviewed with you before anything is filed, the fee is fixed and agreed up front, and you pay only after the service is delivered. If project accounting is on your list, the conversation costs nothing to start.
Providing transparent fixed pricing and high-quality Accounting Firm compliance for your project accounting requirements.
Coverage: Standard bookkeeping and project 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 project accounting needs?
Providing tailored project accounting services to ensure compliance and maximize deductions.
Our certified accountants protect your business with complete federal and provincial tax compliance.
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 Project Accounting tax and accounting services have helped Canadian businesses save money and stay compliant.
A $72,000 reassessment was proposed against a boutique fitness studio group in Hamilton, Ontario following capital assets written off in full in the year of purchase, with no fixed-asset schedule behind the deduction. The documented response reduced it to nil.
A desk review assessed an independent pharmacy in Mississauga, Ontario $104,000 over a shareholder loan account that had drifted for three years with no supporting entries. Producing the records vacated it.
Scaling exposed a bank that refused to renew an operating line without compliant statements at a family-owned wholesale distributor in Lethbridge, Alberta. The back office was rebuilt to match, freeing $142,000.
A professional practice that closes its books quarterly in Moncton, New Brunswick needed a holding structure to deal with a year-end moved informally, leaving twelve months of trading reported as though nothing had changed. The reorganisation was tax-neutral and removed $49,000 of annual exposure.
A second opinion for a machine-shop owner-operator in Kitchener, Ontario found work in progress carried at billing value one year and at cost the next, so neither year was comparable in prior filings and recovered $16,500 a year.
Collections had begun against a regional courier operator in London, Ontario over 6 years of unfiled returns. Bringing them current cut $120,000 from the balance.
Meet the specialists behind your Project 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)
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.
Project 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 are a cloud-based practice serving every province and territory, 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 project 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.
You are asking the right question, and it has a real answer. 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. What we add on top of that is the paperwork discipline that makes the answer stand up if anyone ever asks you to prove it.
Our answer starts where the legislation starts. 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. From there it is a matter of applying it to your year — and that application, not the rule itself, is where a tax services provider earns the fee.
The questions Canadians actually search on this topic, answered plainly. Browse every question in the Canadian tax answers directory.
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.
Most people pay through online or telephone banking, adding the CRA as a payee and choosing the exact account and year, such as a personal balance owing or an instalment. The alternatives are CRA My Payment with a debit card, pre-authorised debit scheduled in My Account, a credit card or e-transfer through a third-party provider that charges its own fee, or paying at your bank with a remittance voucher. For the 2025 tax year the balance was due 30 April 2026.
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.
Not on a Canadian personal return. Net income there is total income minus deductions such as RRSP contributions and union dues, worked out before any tax is applied, and it is the figure used to test income-tested benefits and credits. In everyday payroll language, net pay does mean what reaches your account after tax and other withholdings. For a corporation it depends on the statement: accounting net income is normally after tax, while the return starts from income before tax.
Federally, no. Employer contributions to a private health services plan covering medical, dental and hospital care are not a taxable benefit, so they do not show up in your income. Quebec taxes them provincially, which is why a Quebec slip can show an amount the federal one does not. Premiums you pay yourself, including the employee share deducted from pay, can count as medical expenses on your T1. Group life and some wage-loss plans are treated differently.
A refund liability is the amount a business expects to pay back to customers for returns, rebates, price adjustments or unused credits, recognised when the sale is recorded rather than when the money goes out. Revenue is reported net of that estimate, and a separate asset is set up for goods expected to come back. Revisit the estimate each period end against actual return rates, and adjust the sales tax reported on refunded sales as well.
Often no federal income tax at all. For 2026 the federal basic personal amount is $16,452, and each province sets its own, so income below those amounts attracts no income tax. CPP and EI are still withheld on employment earnings. Filing still matters at low income: the GST/HST credit, the Canada workers benefit, the Canada child benefit and provincial top-ups are all paid from an assessed return, so skipping it costs money.
No, in the ordinary case. Basic groceries are zero-rated, so plain meat, fish, produce, milk and bread carry no GST or HST. Tax applies once food is prepared or falls into an excluded category: restaurant and takeout meals, heated food, snack foods, candy, carbonated drinks and single servings sold ready to eat. A package of raw chicken is untaxed while a hot cooked chicken from the same store is taxed.
Canada has no measure by that name; the low income tax offset is an Australian credit. The Canadian equivalents are the federal basic personal amount, which for the 2026 tax year is $16,452 and tapers down to $14,829 at higher net incomes, plus refundable credits such as the Canada workers benefit and the GST/HST credit. Together they leave many low-income filers with no federal tax. You still have to file a return to receive the refundable credits.
Higher income, mainly. Canadian rates are graduated, so each dollar past a bracket threshold is taxed at the next rate, federally 14% rising through 20.5%, 26% and 29% to 33% for 2026. A second job, a bonus, self-employment or investment income, or an RRSP withdrawal can push you into a higher band, and each payer withholds as though it were your only income. Losing a credit or deduction, or a bracket you no longer share with a spouse, raises it too.
Bank charges and card processing fees on a business account are deductible in the year incurred, along with merchant discount rates, monthly service charges and interest on business borrowing. Fees on a personal chequing account are not deductible, and neither are the interest and fees on a personal credit card, even where you occasionally put work costs on it. Keep the statements, because the CRA asks for them on review of an expense claim.
An allowance paid to an employee is generally taxable and belongs on the T4, because the employee never has to account for how it was spent. The main exception is a reasonable per-kilometre motor vehicle allowance based on kilometres actually driven for work. The CRA publishes a per-kilometre amount it accepts as reasonable, with a higher rate for the first block of business kilometres each year and a top-up for employees based in the territories; the amounts are reset annually, so check the rate for the calendar year in question on canada.ca before relying on it.
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. Big 4 trained at Ernst & Young and Deloitte, and qualified as a chartered accountant in India and again in Malaysia, he founded his accounting practice in 2014 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.
