Most individual tax returns can be done easily each year with accounting software or simply close attention to detail, but businesses and complex finances are faced with many more requirements at tax time. Do not let your corporate tax return wait, only to discover bigger obstacles (and fines) than you anticipated. Contact Liu & Associates to consult with our professionals about any taxation concerns you might have about your business.
Anyone who has filed personal taxes knows about T4 documents, but as a business owner you are required to provide T4 records to the Canada Revenue Agency. Additionally, due to business ownership or an investment portfolio, you may need to file T2, T3 and T5 documents as part of annual tax returns. Did you know all corporations file T2 return, even non-profits and tax-exempt corporations? Interest, dividends, capital gains, even foreign income need to be reported on their specific T3 or T5 return.
Many corporations feel they are on top of their finances, but taxes can become overlooked. Allow our professionals at Liu & Associates to take the pressure off late tax filings with their expertise. Faced with an intimidating audit or appeals process? We can streamline your challenges with our familiarity and understanding of the CRA and its policies.
As always, it is better to prepare for problems than to try and clean up after them. We can work with you to develop a tax plan that will leave you more time to focus on your business or investments. Growing or evolving? Liu & Associates can also help reorganize or restructure your systems to better benefit your finances at tax time.