Bob Gauvreau walks through corporate year-end tax filing and strongly recommends hiring a professional. If you file yourself, use electronic filing rather than mailing a T2 jacket to the Canada Revenue Agency, since e-filing gives you automatic confirmation and a tracking number.
So a question we get asked often is how do we even file our corporate year end taxes? Now, it's a good question and one that you really need to work with a professional on. I can tell you our firm pays substantial money to have software solutions so that we can not only prepare it with accuracy and eliminate any inefficiencies in tax loss, but also it has electronic filing capabilities. So if you decide to not work with a professional, how can you file it? You can actually fill out a T2 jacket, complete it with all the information in it, and you could actually mail it to the Canada Revenue Agency. Now, our electronic filing is much better. We get an automatic confirmation and a confirmation number that everything's been received. If you mail it, you probably want to mail it in some sort of certifiable mail so that you can track when it was received and that somebody signed for it. You can do that. I would highly advise, though, based on the complexity of what goes into a corporate year end tax filing, that you work with a designated professional to make sure that those filings get done properly and also electronically filed so that you have confirmation that you've done your part.
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