Every incorporated business in Canada is required to file a T2 Corporate Income Tax Return annually, regardless of whether it earned income or not. Even inactive corporations must submit a nil return to remain compliant with CRA rules.
We’re different than the accountants you’re used to. You’ll enjoy the constant communication, easy-to-understand reports, and meaningful 1:1 coaching you need to push your business forward.
Meet with us in our virtual office over on Spot! No matter where you are, you can join us in our office to plan and collaborate on your business success.
We’ll help you implement best-in-class technology to ensure the inner workflows of your business are never harder than they need to be.
We’re not just a vendor - we’re a partner. We have your best interests in mind. We stay on top of everything and keep you looped in on what you need to know.
We’ll meet for annual, quarterly, or monthly coaching (depending on your plan) and provide you with email support year-round So you stay stress-free & focus on your business..
Our T2 corporate tax filing service is straightforward, transparent, and designed for incorporated freelancers, contractors, and small businesses in Canada. You’ll know exactly what your T2 tax return will cost before we begin.
Includes 600 Bookkeeping
Transactions, HST filing & Corporate
Tax Return
This is a T2 Nil return filing which does not need bookkeeping. It’s to record your T2 tax return with $0 balances on schedule 125 and schedule 100. No bookkeeping completed.
Bookkeeping for 600 Transactions or 50 transactions a month. Prices are adjusted for the level of complexity and transactional volume.
We will prepare the T2 Corporate Income Tax Return with GIFI Financials. This is required from CRA on an annual basis. Reserved for Holding companies.
Your corporation’s tax return deserves careful attention. Our experienced accountants handle your T2 filing with precision reviewing income, expenses, deductions, and CRA requirements to ensure everything is prepared correctly. With Instaccountant, you get reliable support, clear communication, and a smooth tax filing process from start to finish.
Complete our secure online intake form. We don't just ask for "your numbers"; we ask about changes in your business structure, asset purchases and shareholder activities to ensure nothing is missed.
We schedule a call to review your fiscal year. This is where we discuss major expenses, potential deductions you might have missed, ensure GST/HST filing and verify your CCPC status.
You will receive a link to upload your bank statements, payroll records and receipts. We use encrypted portals to protect your sensitive financial data.
We prepare your Financial Statements and T2 return using approved schedules. We review for optimization opportunities and verify CCA calculations.
We send you a digital copy to review. Once approved, you sign electronically. No printing, scanning, or mailing required.
We transmit the return directly to the CRA. You receive a confirmation receipt immediately, and we monitor for the Notice of Assessment.
We walk you through our streamlined corporate tax process, explain how we ensure CRA compliance, and show how Instaccountant supports Canadian businesses year-round.
While it’s not mandatory, incorporating your business can offer valuable tax advantages and liability protection. Many contractors choose to incorporate to benefit from the Small Business Deduction and lower corporate tax rates. Our contractor incorporation services in Canada can help you understand what structure best fits your situation.
Yes! If you use part of your home exclusively for business, you can claim home office deductions such as utilities, rent, property taxes, and internet. Our online accountants for contractors in Canada will guide you through what qualifies and ensure you claim every eligible expense under CRA rules.
Fluctuating income is common for contractors. We provide tax planning strategies for small business owners to help you manage income variations, smooth out cash flow, and plan quarterly tax installments. Our virtual tax advisors can help you stay prepared for lower-income months.
Missing a tax deadline may result in CRA penalties and interest charges. If this happens, don’t panic our team offers CRA late filing assistance and can help you submit your return quickly while minimizing additional fees. Our online corporate tax accountants ensure all future filings stay on schedule.
Accurate recordkeeping is key to maximizing your deductions. We recommend using Zoombooks or similar online bookkeeping software for contractors to track income and expenses throughout the year. Our firm also offers virtual bookkeeping services to ensure your books stay accurate and audit-ready.
Yes. Different industries such as construction, IT, healthcare, and professional services have unique contractor tax deductions and credits. Our experienced small business accountants understand industry-specific tax rules and will help you claim every eligible benefit.
The CRA distinguishes between employees and independent contractors based on several criteria, such as control over work and financial risk. Misclassification can lead to penalties. Our experts in CRA contractor classification and compliance can review your situation to ensure you’re set up correctly.
Yes, fees paid to subcontractors are generally deductible business expenses. Just keep accurate contracts, invoices, and payment records. Our online bookkeeping team for contractors helps you organize these expenses for smooth year-end reporting and CRA compliance.
If you receive an audit notice, stay calm. We offer CRA audit representation for small businesses and contractors, helping you prepare documentation, communicate with CRA officers, and resolve issues efficiently. Our virtual tax experts make the process stress-free and professional.
Absolutely! Contractors can deduct business-related travel expenses such as transportation, lodging, and meals (up to 50% for meals and entertainment). Our corporate tax accountants for contractors will help categorize and record these correctly to meet CRA audit standards.
No worries — we can help. Our team provides online bookkeeping cleanup services to organize your financial records before tax filing. Extra charges may apply for extensive work, but we’ll make sure your books are ready for accurate T2 filing and CRA review.
Our $699 all-in-one contractor tax package includes your T2 Corporate Income Tax Return, GST/HST filing, salary vs. dividend guidance, and up to 4 hours of bookkeeping support. It’s a complete online tax filing service for contractors designed to make compliance simple and affordable.
We offer both online and in-person tax and accounting services for contractors, self-employed professionals, and incorporated businesses across Canada and the USA. Whether you prefer virtual meetings or face-to-face consultations, we make it easy to get expert financial help your way.
We work with a wide range of professionals including IT consultants, electricians, construction contractors, healthcare technicians, and other incorporated or self-employed individuals. Our tax and bookkeeping services for contractors in Canada are customized to fit your industry, workflow, and business structure.
A T1 tax return is used by individuals and self-employed persons to report personal income, including business income using the T2125 self-employed tax form. A T2 corporate tax return is required for incorporated businesses in Canada to report corporate income, expenses, and taxes payable to the CRA.
The CRA charges a late-filing penalty for a T2 corporate tax return of 5% of the unpaid tax, plus 1% for each full month the return is late, up to 12 months. Repeated late filing can result in higher penalties and increased CRA scrutiny.
If you don’t file taxes for three years, the CRA may issue arbitrary assessments, deny refunds and credits, charge penalties and interest, and increase the risk of audits or legal action. Both T1 and T2 tax return non-filing can seriously impact your financial standing.
There is no acceptable number of years you can legally go without filing taxes in Canada. Whether filing a T1 personal return or a T2 corporate tax return, all required returns must be filed annually, even if there is no income or taxes owing.
We provide year-round bookkeeping, tax and accounting support as online accountants for startups, growing businesses, contractors and self-employed professionals across Canada.
