Question 1

What services does Accountable Business Services (ABS) offer?

Accepted Answer

ABS provides comprehensive accounting solutions across Canada, including personal tax preparation (T1), corporate tax filing (T2), bookkeeping, GST/HST filing, payroll services, CRA audit representation, business plan writing, financial statement compilation, and business incorporation. We serve individuals, self-employed professionals, small businesses, and corporations nationwide.

Question 2

How can I get started with your accounting services?

Accepted Answer

Getting started is simple. Call us at 587-200-6402, fill out our online form, or email info@absprof.com to book a free consultation. We'll discuss your needs, explain our process, and provide a personalized quote, with no obligation.

Question 3

What makes ABS different from other accounting firms in Canada?

Accepted Answer

Unlike large impersonal firms, ABS offers personalized service, customized pricing based on your needs, a CRA-compliance guarantee, and nationwide virtual accounting. Our certified team combines extensive experience with modern cloud technology to deliver faster, smarter accounting solutions, whether you're in Edmonton, Toronto, Vancouver, or anywhere in Canada.

Question 4

Are your bookkeepers and accountants certified?

Accepted Answer

Yes. Our team includes CPA-certified accountants and professionally trained bookkeepers experienced in Canadian tax law, CRA compliance, and industry-specific accounting standards. Every member of our team undergoes continuous professional development to stay current with changing regulations.

Question 5

How do you ensure the confidentiality of my financial information?

Accepted Answer

We use bank-level 256-bit encryption, secure client portals, signed NDAs, and PIPEDA-compliant data handling procedures. Your financial data is never shared with third parties. We follow strict data security protocols to protect every client's sensitive information.

Question 6

Do you offer virtual or online accounting services across Canada?

Accepted Answer

Absolutely. We serve clients in every province and territory in Canada through secure video calls, cloud accounting software (QuickBooks Online, Xero, Sage), and encrypted document sharing. You don't need to visit our office, everything can be handled remotely.

Question 7

What are your accounting service fees?

Accepted Answer

Our fees are customized based on the service type and complexity of your specific needs. Every client receives a personalized quote after we understand their requirements. We'll provide exact pricing before any work begins, with no hidden charges.

Question 8

Do I have to visit your office in person?

Accepted Answer

No. While our head office is in Edmonton, Alberta, most of our clients work with us 100% remotely from anywhere in Canada. We use secure cloud platforms, video conferencing, and encrypted file sharing to serve you efficiently, no office visit required.

Question 9

What is the deadline for filing personal taxes in Canada?

Accepted Answer

The personal tax filing deadline in Canada is April 30 each year. Self-employed individuals have until June 15 to file, but any taxes owed must still be paid by April 30 to avoid interest charges.

Question 10

What documents do I need for personal tax filing in Canada?

Accepted Answer

You'll need T4 (employment income), T5 (investments), T3 (trust income), RRSP contribution slips, medical receipts, charitable donations, tuition receipts (T2202), rent or property tax receipts, and last year's Notice of Assessment. ABS provides a complete checklist when you book with us.

Question 11

How much does it cost to file a personal tax return in Canada?

Accepted Answer

The cost varies based on the complexity of your tax situation. Simple returns are more affordable, while complex returns involving self-employment, rental income, or investments require more work. ABS provides personalized quotes tailored to your specific tax needs.

Question 12

Can I file my Canadian taxes late? What are the penalties?

Accepted Answer

Yes, you can file late, but it comes with consequences. Late filing results in a 5% penalty on the amount owing plus 1% per month, up to 12 months. If you're owed a refund, there's no penalty, but you should file within 3 years to claim it.

Question 13

What happens if I don't file my taxes in Canada?

Accepted Answer

The CRA can charge penalties, interest, garnish wages, freeze bank accounts, and even pursue criminal charges for tax evasion. You'll also lose access to benefits like the GST/HST credit and Canada Child Benefit. ABS can help you catch up through the Voluntary Disclosures Program (VDP).

Question 14

How do I maximize my tax refund in Canada?

Accepted Answer

Claim all eligible deductions: RRSP contributions, medical expenses, childcare, home office (if self-employed), tuition, moving expenses, and tax credits like the Canada Workers Benefit and Disability Tax Credit. A professional accountant like ABS can identify credits and deductions you may miss.

Question 15

Do I need to file taxes if I had no income in Canada?

Accepted Answer

Yes, filing is still strongly recommended even with zero income. It allows you to claim valuable benefits like the GST/HST credit, Canada Child Benefit, Climate Action Incentive, and carry forward tuition credits or capital losses for future years.

Question 16

Can ABS help with prior-year unfiled tax returns?

Accepted Answer

Yes. We specialize in back-tax filing and can help you file up to 10 years of unfiled returns. We also help minimize penalties through CRA's Voluntary Disclosures Program (VDP).

Question 17

How long does it take to get a tax refund in Canada?

Accepted Answer

CRA typically issues refunds within 2 weeks for online (NETFILE) filers and 8 weeks for paper filers. Setting up direct deposit through CRA My Account is the fastest way to receive your refund.

Question 18

Can you handle tax preparation for both personal and business accounts?

Accepted Answer

Yes. We prepare T1 personal returns, T2 corporate returns, T3 trust returns, T4/T5 slips, and partnership T5013 returns for clients across Canada.

Question 19

When is the corporate tax deadline in Canada?

Accepted Answer

Corporate tax returns (T2) must be filed within 6 months of your fiscal year-end. However, any taxes owed are due within 2 months, or 3 months for certain Canadian-Controlled Private Corporations.

Question 20

Do I need an accountant for my small business in Canada?

Accepted Answer

While not legally required, hiring a professional accountant saves time, reduces taxes, ensures CRA compliance, and prevents costly errors. Most small business owners save more in tax deductions and credits than they spend on accounting fees.

Question 21

Should I incorporate my business in Canada?

Accepted Answer

Incorporation offers significant advantages including limited liability, tax deferral, income splitting opportunities, and the Lifetime Capital Gains Exemption (LCGE). It's usually beneficial once your business earns over $75,000 to $100,000 per year.

Question 22

What business expenses can I write off in Canada?

Accepted Answer

Common deductible business expenses include office rent, utilities, office supplies, advertising and marketing, vehicle expenses (business portion), meals and entertainment (50%), professional fees, insurance premiums, home office costs, employee salaries, and equipment depreciation (CCA).

Question 23

What's the difference between a sole proprietorship and a corporation in Canada?

Accepted Answer

A sole proprietorship is simple and inexpensive to set up, but you're personally liable for all business debts. A corporation is a separate legal entity offering liability protection, tax advantages, and more credibility, but has higher setup costs and annual compliance requirements.

Question 24

How much tax does a small business pay in Canada?

Accepted Answer

Canadian-Controlled Private Corporations (CCPCs) pay a small business tax rate of approximately 9% to 13% on the first $500,000 of active business income, depending on the province.

Question 25

Do I need to charge GST/HST for my business in Canada?

Accepted Answer

You must register for GST/HST once your business earns over $30,000 in any 12-month period. Voluntary registration is also available and can benefit businesses by claiming Input Tax Credits (ITCs) on purchases.

Question 26

What is the difference between GST, HST, and PST in Canada?

Accepted Answer

GST (5%) applies federally across Canada. HST combines GST plus provincial tax in Ontario (13%), New Brunswick, Nova Scotia, Newfoundland (15%), and PEI (15%). PST is charged separately in British Columbia (7%), Saskatchewan (6%), and Manitoba (7%). Quebec charges QST (9.975%). Alberta has only 5% GST with no provincial sales tax.

Question 27

What is bookkeeping and why is it important for my business?

Accepted Answer

Bookkeeping is the systematic recording and organizing of all financial transactions in your business. It's essential for accurate tax filing, cash flow management, informed business decisions, and CRA compliance.

Question 28

What do I need to provide to keep my books up-to-date?

Accepted Answer

You'll need to provide bank statements, credit card statements, sales invoices, purchase receipts, payroll records, and any loan or asset documents. ABS uses cloud tools with automated bank feeds to minimize the manual work required from you.

Question 29

How often should I update my bookkeeping?

Accepted Answer

Ideally, monthly. Regular monthly bookkeeping prevents year-end stress, catches errors early, provides real-time financial insights, and ensures you're always prepared for CRA inquiries. Some high-volume businesses benefit from weekly bookkeeping.

Question 30

Do you work with QuickBooks, Xero, or Sage?

Accepted Answer

Yes. ABS is proficient in QuickBooks Online, QuickBooks Desktop, Xero, Sage 50, Wave, and FreshBooks. We help with initial setup, data migration from other platforms, staff training, and ongoing bookkeeping management.

Question 31

How much does bookkeeping cost per month in Canada?

Accepted Answer

Bookkeeping costs vary based on your transaction volume, business complexity, and industry. ABS offers customized monthly packages tailored to your specific business needs, whether you're a solopreneur or a growing corporation.

Question 32

Can you clean up messy or backlogged bookkeeping?

Accepted Answer

Absolutely. Our bookkeeping cleanup service reorganizes your financial records, reconciles missing transactions, categorizes expenses properly, and gets you completely audit-ready, even if you're months or years behind.

Question 33

Is there an option for digital or cloud-based record-keeping?

Accepted Answer

Yes. We fully support paperless, cloud-based accounting with automated bank feeds, receipt scanning apps like Dext and Hubdoc, and secure online client portals.

Question 34

What happens if I am audited by the CRA?

Accepted Answer

Don't panic. ABS provides full CRA audit representation. We communicate with CRA on your behalf, organize and prepare all required documentation, negotiate assessments, and protect your rights throughout the entire audit process.

Question 35

How likely am I to be audited by the CRA?

Accepted Answer

Less than 1% of individuals and approximately 3% of businesses are audited by CRA annually. Your risk increases with self-employment income, cash-heavy businesses, unusually large deductions, or inconsistencies between reported income and lifestyle.

Question 36

How far back can the CRA audit me?

Accepted Answer

CRA can generally reassess up to 3 years back for individuals and 4 years for corporations from the date of your Notice of Assessment. However, there is no time limit in cases of fraud, misrepresentation, or failure to file.

Question 37

What is the CRA Voluntary Disclosures Program (VDP)?

Accepted Answer

The Voluntary Disclosures Program allows taxpayers to come forward and correct past tax errors or report unreported income without facing full penalties or criminal prosecution. To qualify, the disclosure must be voluntary, complete, and involve a penalty.

Question 38

Can you help me set up a CRA payment plan for taxes owed?

Accepted Answer

Yes. We negotiate CRA payment arrangements on your behalf to spread tax debt over manageable monthly installments. This prevents CRA from taking enforcement actions like wage garnishments, bank account freezes, or property liens.

Question 39

What is a CRA Notice of Assessment (NOA)?

Accepted Answer

The Notice of Assessment is the official document CRA sends after processing your tax return. It confirms your refund amount or balance owing, RRSP deduction limit, TFSA contribution room, and any changes CRA made to your return.

Question 40

How do I respond to a CRA review or request letter?

Accepted Answer

Respond within the stated deadline, usually 30 days, with all requested documents and explanations. Never ignore a CRA letter, as it leads to automatic reassessment and additional penalties. ABS can handle all CRA correspondence on your behalf.

Question 41

What industries does ABS specialize in?

Accepted Answer

We serve a wide range of industries including real estate, medical and dental practices, construction and trades, e-commerce, restaurants and hospitality, IT consulting, trucking and transportation, non-profit organizations, and self-employed freelancers across all provinces in Canada.

Question 42

Do you offer accounting services for nonprofits and charities?

Accepted Answer

Yes. We provide specialized services for registered charities and non-profit organizations, including T3010 charity information returns, non-profit bookkeeping, grant and donor reporting, financial statement preparation, and ensuring full CRA compliance.

Question 43

Can you help with financial forecasting and budgeting?

Accepted Answer

Yes. Our advisory services include cash flow forecasting, annual budget planning, KPI tracking, break-even analysis, and business performance reporting.

Question 44

Do you write business plans for bank loans or investors?

Accepted Answer

Absolutely. We create professional business plans with comprehensive financial projections, market analysis, competitive positioning, and executive summaries, accepted by major Canadian banks, BDC, government loan programs, and immigration business programs.

Question 45

Can you help newcomers or immigrants to Canada with their taxes?

Accepted Answer

Yes. We specialize in helping new immigrants, permanent residents, international students, temporary workers, and non-residents with first-time Canadian tax filing, foreign income reporting (T1135), treaty-based exemptions, and understanding Canadian tax obligations.

Question 46

Do you offer payroll services for small businesses in Canada?

Accepted Answer

Yes. We provide full-cycle payroll services including employee pay runs, CPP/EI/income tax remittances, T4 and T4A slip preparation, Records of Employment (ROE), WCB filings, direct deposit setup, and year-end payroll reconciliation.

Question 47

How often will we communicate about my financial status?

Accepted Answer

For bookkeeping clients, we provide monthly financial reports and reviews. Tax clients receive quarterly check-ins and proactive tax planning updates. You can also reach us anytime via phone, email, or our secure client portal.

Question 48

How can I access my financial reports and documents?

Accepted Answer

Through our secure online client portal, available 24/7 from any device. You can view and download profit and loss statements, balance sheets, tax returns, receipts, and all past documents anytime from anywhere in Canada.

Question 49

Can I switch to ABS from my current accountant?

Accepted Answer

Yes, switching is easy and seamless. We handle the entire transition process, including requesting your files from your previous accountant, reviewing your past returns, migrating your data, and ensuring nothing is lost. Most transitions are completed within 1-2 weeks.

Question 50

Do you offer a free consultation before I commit?

Accepted Answer

Yes! We offer a FREE 15-minute consultation to understand your specific needs, answer your questions, and provide a personalized quote, with absolutely zero obligation.

Corporate Tax Accountant for Corporate Tax Filing Services in Canada

Corporate Tax Accountant Services: Everything your T2 filing actually requires

T2 return preparation

GIFI & financial schedules

CCPC small business rate

NETFILE e-filing

Tax deferral strategy

CRA correspondence

Built for incorporated businesses, at every stage

From first call to filed return

Free consultation

Document collection

Preparation & review

NETFILE submission

Year-round support

Corporate Tax Filing Services in Canada: Common Questions, Answered

Services that work alongside corporate tax filing

Ready to get your corporate taxes filed right?