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Small Business Tax Accountant in Mississauga for Sole Proprietors and Corporations

One accountant for the whole small business tax picture: the return you file, the sales tax you collect, the payroll you run, and the planning that shrinks next year's bill.

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Small Business Tax Services in Canada, Matched to Your Structure

Our small business tax services in Canada start by matching the work to how your business is built, because the filings, deadlines, and planning levers differ completely:

For sole proprietors and partnerships,

we file the T1 and T2125 with every deduction your records support, calculate both halves of your CPP, and hit the June 15 filing and April 30 payment deadlines. Each year we also re-run the incorporation math on your real numbers.

For incorporated small businesses,

we file the T2 and your personal return from one client file, protect the small business rate, and set your salary-dividend mix. One file means the two returns never contradict each other.

Unsure which structure you should even be in? That question is the first fifteen minutes of the free consultation, answered with math.

A business owner reviewing tax paperwork beside a laptop

What Our Small Business Tax Preparation Services File

Our small business tax preparation services cover every return a small business generates, because owing one filing you forgot is how clean businesses collect penalties:

  1. The income return, T1 with business schedules or the corporate T2, prepared from reconciled records
  2. GST/HST returns, on your assigned cycle, with registration handled through our GST registration service once revenue approaches the $30,000 threshold
  3. Payroll remittances and T4s, filed by the last day of February, with the accounts run by our payroll team
  4. Instalment schedules, calculated when your balance owing passes $3,000, so quarterly payments stop generating interest letters
  5. Adjustments for past years, where deductions were missed, generally recoverable up to ten years back

How We Run Small Business Tax Planning in Canada

Our small business tax planning in Canada happens before year-end, because every move below dies on December 31. Here is what we do and why the timing matters:

  1. We test your small business rate eligibility every year.

    The roughly 12.2% Ontario rate on the first $500,000 shrinks once passive investment income passes $50,000, and we restructure the investments before that income is earned, because afterwards is too late.

  2. We remodel your salary-dividend split every year.

    Salary builds RRSP room and CPP while dividends skip payroll costs, and the right mix changes with each year's income and rates, so we never repeat last year's answer by default.

  3. We set up your deduction records and time your purchases.

    Home office and vehicle claims need logs we configure up front, and equipment buys get timed against year-end, because an asset bought one day late waits a full year for its deduction.

  4. We start your exit plan two years before the exit.

    The $1.25 million lifetime capital gains exemption needs your shares qualifying for 24 months before a sale, so we test and fix the qualification early, while there is still time to.

What Your Tax Accountant for Small Business Does Between Filings

Your tax accountant for small business at Bestax works quarterly, not seasonally. Between returns, we run these checks on your file:

  1. We watch the GST registration threshold and register you before revenue crosses $30,000, because crossing it unregistered means owing tax you never collected.

  2. We calculate instalments the quarter they start applying, so the CRA's interest letters never get written.

  3. We reconcile your income, sales tax, and payroll figures to each other, because the CRA cross-references all three, and matched filings are what keep reviews away.

  4. We book the year-end planning meeting ourselves, before your deadline, because waiting for the client to ask is how planning windows close unused.

Small Business Tax Deadlines We Track

  • April 30

    Applies to
    Tax payment for sole proprietors, and most T1s
    Cost of missing it
    Daily compounding interest from May 1
  • June 15

    Applies to
    Self-employed T1 filing
    Cost of missing it
    Late-filing penalty on any balance owing
  • 6 months after year-end

    Applies to
    The corporate T2
    Cost of missing it
    5% of unpaid tax plus 1% per month
  • Last day of February

    Applies to
    T4 slips for your employees
    Cost of missing it
    Per-slip penalties
  • Your assigned cycle

    Applies to
    GST/HST returns
    Cost of missing it
    Penalties plus interest on amounts held
  • Quarterly

    Applies to
    Instalments once owing tops $3,000
    Cost of missing it
    Instalment interest on each shortfall

The full calendar sits on the CRA's small business deadlines page, and every date that applies to your business goes into our tracking at onboarding.

Small Business Tax Advisory When Decisions Get Big

Beyond the annual cycle, our small business tax advisory handles the one-off decisions that outweigh a decade of deductions. Each runs as a defined engagement, and each ends with both options costed in writing:

A Bestax adviser walking two business owners through their options at a desk with a Canadian flag
  • Incorporate or stay sole: we run your profit through both structures and hand you the comparison

  • Family on payroll: we structure spouse and child wages inside the income splitting rules

  • Buy or lease the premises: we model both against your cash flow and tax position

  • Taking on a partner: we set the share and payment structure before the handshake

  • Selling the business: we plan the exit for the capital gains exemption, two years out

Working Rules on Every Small Business File

Each line is a working rule.

Small business files fail in known ways: unregistered GST past the threshold, instalments nobody calculated, and incorporation sold without the numbers. The rules block each one.

  • One client file carries your business and personal returns

  • Quarterly check-ins replace the once-a-year tax surprise

  • Every deduction claimed has a record standing behind it

  • Deadlines are tracked by us and confirmed to you early

  • Planning happens before year-end, while options exist

  • Incorporation advice comes with the math, both ways

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Small Business Tax Questions for Bestax

  1. Yes. Both run from one client file. The returns stay consistent when the CRA cross-checks them.

  2. Yes. We bring the accounts current and request penalty relief where you qualify. Catching up early always costs less.

  3. It depends on profit, liability, and your plans. You get the comparison in writing, calculated both ways.

  4. Before your year-end, at a scheduled meeting. Planning after December 31 is just filing with regrets.

  5. Yes. We request the prior file and carry your history forward. Mid-year transitions are routine.

  6. Receipts, invoices, bank statements, and a vehicle log if you drive for work. We give you the full list at onboarding.

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