Tax Accountant in Canada

What a tax accountant in Canada does

• Personal tax returns (T1): reporting employment, self-employment, rental and investment income, and claiming every eligible deduction and credit.
• Corporate tax returns (T2): year-end financial statements, GIFI schedules and CRA Corporation Internet Filing.
• GST/HST returns: registration support, input tax credit review and e-filing through GST/HST NETFILE.
• Cross-border filings: US returns (1040, 1040-NR), FBAR reporting and treaty coordination for US citizens in Canada and Canadians with US income.
• CRA correspondence: responding to notices of assessment, reviews and information requests on your behalf.

Who needs a tax accountant

• Employees and investors with multiple income sources, capital gains or rental income.
• Self-employed professionals and contractors reporting business income (Form T2125).
• Owner-managed corporations that must coordinate a T2 with the owners' T1 returns.
• Businesses registered for GST/HST or with payroll remittance obligations.
• US citizens living in Canada and Canadians with US income who must file in both countries.

Personal and corporate tax returns

Personal T1 returns are generally due April 30, or June 15 for eligible self-employed individuals and their spouses or common-law partners, with payment due April 30. The late-filing penalty is 5% of the balance owing plus 1% per complete month late, up to 12 months — 10% plus 2% per month for repeat penalties.

Corporate T2 returns are due six months after the fiscal year end, with the tax balance generally due after two months — three months for qualifying CCPCs. Most resident corporations must file every year, even when inactive. The two returns must be consistent with each other in an owner-managed business.

How online tax preparation works

• Book a free consultation and receive a flat-rate quote in writing before any work begins.
• Upload your slips, statements and receipts through the secure client portal.
• We prepare the return, check deductions, credits and treaty positions, and send you a draft to review.
• You approve, we e-file with the CRA, and the filed return is stored in your portal.

Documents a tax accountant needs

• Personal: T4, T4A, T5 and T3 slips, RRSP receipts, medical and donation receipts.
• Self-employed: income records, expense receipts, vehicle logs.
• Corporate: income statement, balance sheet, general ledger, bank statements, asset purchase invoices, prior-year T2 and Notice of Assessment.
• Cross-border: SSN or ITIN, US income slips (W-2, 1099, K-1), prior US and Canadian returns.

Pricing

Personal tax returns start at $299 plus tax and corporate T2 returns at $500 plus tax, always quoted as a flat rate in writing before work begins. Cross-border engagements are quoted per engagement based on the forms required. Monthly bookkeeping from $199 keeps year-end tax filing faster and less expensive.

Common mistakes a tax accountant helps you avoid

• Missing the April 30 payment deadline when filing by June 15 as self-employed.
• Claiming expenses without supporting records — the CRA requires documents for six years from the end of the tax year they relate to.
• Filing a dormant corporation's T2 late — the obligation never pauses.
• Forgetting FBAR or treaty forms on cross-border filings, or filing the two countries' returns inconsistently.