Canadian Accountants and Tax Season

Accountants are prepared for long hours during tax season. At the peak of the season, it is not unusual to work 60 or 70 hours a week. This can be from January right through to April, and understandably high-stress levels can have an effect both emotionally and physically for all accountants, whether seasoned or new or as they build a more extensive clientele.

A.M.I. CPA Professional Corporation is a full-service accounting firm based in Oakville, Ontario, offering a broad range of accounting services to meet the needs of businesses, entrepreneurs, and individuals in Oakville & The GTA.

The professional team avoids burnout during the busy season by delegating services and work. Utilizing accounting software and offering our  Secure Client Portal to our clients for downloading necessary tax information and documents makes time management and automation much more manageable.

Personal Tax Deadlines

Filing your tax return is due in 2023 by June 15th; however, if money is owed, the deadline would be April 30th, but because that falls on a Sunday, they can be paid on Monday, May 1st, without penalty.

Corporate Tax Deadlines

Corporate tax returns are filed by the last day of the month, six months after the end of your fiscal year. If the last day of the tax year does not fall on the last day of a month, the return is filed by the same day of the sixth month after the end of the tax year. 

Resource: Canada Revenue

If there is corporate tax income owing, then payments must be made no later than three months after the end of the tax year.

Our team is available to act as your corporate tax accountants helping your business with all the ins and outs of corporate tax preparation.

Staff of AMI Professional Corporation

We can take care of innovative tax planning to ensure that your corporation falls within the small business deduction limit and your losses are properly carried forward or carried back to pay the least corporate income tax.

Corporate Tax Services offered:

  • Corporate tax return (T2) preparation
  • Corporate tax planning
  • Holding company structuring
  • Salary vs. dividend consideration
  • Income and capital tax minimization
  • GST/HST return filing

Personal Taxes

We specialize in providing personal taxes to business owners that require an integrative approach to their taxes. We also help people that may have a portfolio of real estate.

Personal taxes are typically tailored to each client. We work closely with clients to understand their specific needs and adjust strategies accordingly, taking a proactive, hands-on approach. We closely follow existing and proposed legislation to determine how it will affect individual financial goals and act as an ongoing advisor.

Accounting Services include:

  • Tax compliance
  • Tax planning for owner-manager remuneration
  • Family tax minimization
  • Retirement planning
  • Asset protection

In Conclusion

In addition to the existing services provided, we will expand the scope of services to auditing books and providing management & CFO consultancy services for your business.

We are privileged to have such outstanding staff and clients and look forward to embarking on new heights of mutually beneficial success.

AMI CPA Professional Corporation is a full-service accounting firm offering a broad range of accounting services to meet the needs of businesses, entrepreneurs, and individuals in Oakville & the GTA.