Downtown Toronto Corporate Tax Return Preparation

Since each corporate situation is unique, there is no accurate way of estimating charges for corporate services. All of our corporate services are billed on the basis of time at our standard charge rates per hour $400 CDN. For a typical owner managed Canadian corporation engaged in personal services in the United States, assuming that the corporation provides us with bookkeeping data input in a general ledger software program, our typical fees are:

Canadian Corporate Tax Services – Downtown Toronto Corporate Tax Return Preparation

• Preparation of financial statements
• Filing of corporate federal T2 Tax return and attachments
• Filing of a provincial tax return and attachments
• Income tax planning for optimal distribution of income.
• Preparation of associated T4 /T4A filing
• Coordination with U.S. filings
• Coordination with individual filings

Average fees: $2400 to $8000 CDN per year

United States Corporate Tax Services – Downtown Toronto Corporate Tax Return Preparation

IRS, US Corporate Filing, US Corporate Tax Return Preparation — Downtown Toronto Corporate Tax Return Preparation – US Corporate Tax Return Preparation

US Corporate Tax Return Preparation
• Preparation of federal 1120 tax return
• Preparation of state corporate tax return
• Preparation of income distribution filings
• Elections and treaty considerations and filings

Average fees: $2500 to $8000 US per year

We also identify opportunities that will help minimize long term tax burdens, review the effectiveness of business structures, and advise on tax implications of proposed transactions.

Downtown Toronto Corporate Tax Return Preparation can assist with:

Canadian Personal and corporate tax returns
Cross Border Taxation and Business Planning
U.S. Personal and Corporate Taxation
Disclosure of Foreign Assets and other information filings

Canadian Tax Filing Requirements:

T2 Corporation Income Tax Return
T1134 Information Return Relating to Controlled Foreign Affiliates
T106 Information Return of Non-Arm’s Length Transactions with Non-Residents

U.S. Filing Requirements:

Form 1120 U.S. Corporation Income Tax Return
Form 1120-F U.S. Income Tax Return of a Foreign Corporation
Form 5472 Information Return of a 25% Foreign-owned U.S. Corporation or a Foreign Corporation
Engaged in a U.S. Trade or Business
Form 5471 Information Return of U.S. Persons With Respect To Certain Foreign Corporations
FinCEN Form 114 Report of Foreign Bank and Financial Accounts (FBAR)

How does our corporate tax return preparation service work?

Call and speak with an advisor if, our service is right for you.

Our office will send you a client questionnaire and a new client form to be filled out.

Gather and organize what documents you need for us to complete your return.

Options to drop off documents.

Due to Covid-19, all documents will be sent via email or postal mail.

An estimate of fees will be provided for your approval, no work will begin before client approval, drop off with an advisor is the only option, where you will be provided with a quotation

Due to increased volumes during tax season, your return may take longer than usual to complete.

When your return is ready, our office will contact you to book an appointment for pickup.

Please contact us for a specific quotation on all services involving corporations in Canada and the United States at info@downtowntorontotaxreturnpreparation.com or call 647-951-4852 Ext.2 locally or 1-800-717-4162 Ext.2 in Canada or the United States.

For Corporate Tax Advice and Planning or Part-time CFO Services, please visit our related firm Toronto Tax Consulting.

CRA