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Corporate Tax Planning & Services

Canadian Corporate Tax Planning & Services in Oakville

When professional accounting advice and services are needed for corporate tax preparation, Oakville and GTA businesses turn to Bazar McBean LLP. Our corporate tax accountants equip the region’s businesses with proven strategies to plan for (and minimize) their tax obligations. We can also help you take advantage of the many tax incentives available to Canadian businesses, such as the SR&ED (Scientific Research & Experimental Development), as well as receive much-needed assistance in resolving tax audits and disputes. 

Don’t let Canada’s corporate tax codes work against your business’ best interests when you could simply call on a team of seasoned tax accountants. Bazar McBean LLP is here for all your corporate tax needs — call us today to schedule a consultation with one of our corporate tax accountants. We’re here to help with corporate tax preparation and planning in Oakville and all of the surrounding areas!

Tax Planning and Minimization

In the news you see story after story of Canadian corporations squirreling away revenues by way of international tax havens. Bazar McBean LLP doesn't believe in taking legal risks with our clients to simply achieve short-term gains. Our accountants work to ensure clients pay only the amount owed to the Canada Revenue Agency to help them minimize their tax obligations. We will also help your corporation plan your taxes so you can better leverage tax-smart opportunities. 

If your corporation is ready to take the next step in minimizing its tax obligations and avoid resource-draining CRA audits, speak with a corporate tax accountant of Bazar McBean LLP. Together we can find a tax-savings plan that will avoid unintentional tax liabilities and avoid the ire of the Canada Revenue Agency. 

Corporate Tax Return Preparation

With few exceptions, such as Crown corporations, all corporations within Canada must file a corporate income tax return (T2) with the CRA each year. This is true even if there isn't a payable tax. Even inactive, tax-exempt, and not-for-profit organizations must file a corporate tax return. In some instances, even non-resident corporations may be required to file a return.

There's only one thing that makes corporate income tax returns more complicated — trying to do them in house. The accountants of Bazar McBean LLP are here to bring clarity and accountability to your business' corporate tax returns. 

Missing Out on SR&ED Tax Credits?

Research and development are essential to fuelling Canada’s diverse industries. Canada has many federal programs aimed at nurturing innovation and improving environmental best practices. This means there are numerous opportunities for your business to reduce its tax burdens and increase its revenue. Just ask yourself the following questions:

  • Is your business developing or improving a product?
  • Are you improving a process or manufacturing technique?
  • Is your operation changing its processes to become more environmentally friendly?
  • Is your business development new software?

If you answered “Yes” to any of the above questions, your Canadian business may qualify for a Scientific Research & Experimental Development tax credit. 

The great things about the SR&ED tax credit program is that it is a refundable tax credit, meaning your business will get a refund regardless of your operation's profitability (or lack of profitability). 

The Scientific Research & Experimental Development tax credit program isn't just for those looking to develop scientific and medical breakthroughs; research and development can be integrated into many business' daily activities. The only catch is that your business should be a CCPC, or "Canadian-controlled private corporation.” Money spent in research and development can qualify for a 35% income tax credit for investments up to $3 million. Any research expenditures above this amount may qualify for a 20% income tax credit — the same portion allotted to research and development carried out by trusts, proprietorships, and corporations within Canada. 

Because of the amount of money at stake, SR&ED tax incentives are totally worth the trouble of filing a claim. Bazar McBean LLP is here for all your income tax credit assistance needs — schedule a consultation today! 

Help with CRA Audits

While audits can be a pain for businesses of all sizes, they do help ensure fairness, integrity, and accountability in Canada's tax system — all attributes necessary in maintaining a healthy, robust economy. But, a CRA audit can be time-consuming and stressful for businesses of all sizes. Having well-maintained records and a licensed accountant to cooperate with the CRA are assets that will become invaluable during a Canada Revenue Agency audit. 

Has your business been selected for an audit through the Canada Revenue Agency? The Oakville accounting firm of Bazar McBean LLP can represent your business in working with the CRA and make the process as smooth as possible. Simply give us a call today to get started.