All Canadian businesses must file a T2 return for each tax year, even if they have no tax to pay. This includes not-for-profit organizations, as well as tax-exempt and inactive corporations.
Companies have been able to file their taxes directly online for many years. Read on to find out how to file your corporate tax return online!
Why is it important to do your business accounting online in Quebec?
Businesses must file their tax returns six months after the end of the fiscal year in order to pay their taxes.
In some cases, businesses must file additional tax returns and pay other provincial and federal taxes, such as GST and QST, as well as HST and payroll deductions. They are also required to make monthly, quarterly or annual instalments.
If you have ever filed your business tax return late, the federal or provincial government imposes penalties for late payment. Doing your taxes online can help avoid this kind of mishap.
Solutions for filing your business taxes online
There are several ways for businesses to do their taxes online! Here are a few examples.
Accounting software
With today's new technologies, most accounting software companies have moved to the cloud. This means that you no longer need to buy and download software on your computer. Simply sign up for a cloud accounting software and you're all set! You will be able to access all your data from anywhere on the planet from any computer with Internet access.
Furthermore, many professional tax accounting firms in Quebec have adopted the same technological approach and now offer their bookkeeping services remotely via cloud-based software. There are many advantages to this: everyone works on the same version and business owners always have access to their data in real time. Naturally, what business owners appreciate most is the ability to invoice their clients no matter where they are located.
Small business tax returns
As you can see, it is now possible to do your small business accounting in Quebec. But what about tax returns for Quebec businesses?
There are many different tax solutions available for business owners and accountants. In most cases, however, you are licensed to use them, which means that you have to do everything yourself without the help of tax specialists to verify your returns and ensure the accuracy of your data.
You can find more information about the online business tax return on the government website.
T2inc.ca helps you file your business taxes online
T2inc.ca is a professional tax accounting firm in Quebec. We specialize in taxation and business tax accounting (T2, CO-17) in Quebec and Canada.
Our tax solution gives all SMBs in Quebec and Canada access to an online tax solution with a direct link to professionals. With T2inc, you avoid installing software, paying licenses ranging from $150 to $250 per return, while spending several hours trying to fill out the returns yourself and not being 100% sure of the results.
Are you a business looking for help doing your taxes online? Contact our tax accountants and experience first hand the quality of our service and results. Our online tax solution is the best of both worlds between tax software and expert consulting services from leading tax firms for small and medium-sized businesses.
Hope to see you soon, and above all, happy reporting!
Frédéric Roy-Gobeil
CPA, M. TAX
As President of T2inc.ca and an entrepreneur at heart, I have founded many start-ups such as delve Labs and T2inc.ca. A former tax specialist at Ernst & Young, I am also a member of the Ordre des comptables professionnels agréés CPA and have a master's degree in taxation from the Université de Sherbrooke. With a passion for the world of entrepreneurship and the growth mindset, I have authored numerous articles and videos on the industry and the business world, as well as on accounting, taxation, financial statements and financial independence.
