Lorena Boda CPA Professional Corporation

Businesses have ongoing annual corporate tax filings responsibilities. A successful business takes proactive steps to ensure common corporate tax filings mistakes are avoided or prevented.

At Lorena Boda CPA Professional Corporation, we’re happy to assist with all your accounting and tax needs.

Common Corporate Tax Filing Mistakes That Lead to CRA Penalties | Expert Guide Discover common corporate tax filing mistakes that lead to CRA penalties. Learn how to avoid errors, stay compliant, and improve tax accuracy in Canada.

Corporations have Canadian tax filings and reporting obligations, even when the operations become inactive, and even when companies fall behind. And yes, the government will go after them, and continuously remind them to file, and even issue arbitrary assessments in some situations.

At Lorena Boda CPA Professional Corporation, we’re happy to assist with all your accounting and tax needs.

Here’s our guide for filing a corporate tax return for an incorporated business.

A Complete Guide to Filing a T2 Corporate Tax Return in Canada | Step by Step Guide Learn how to file a T2 corporate tax return in Canada. Step by step guide covering deadlines, documents, deductions, and compliance requirements.

Business owners are incredibly driven and focused to make their dreams come true and become successful. That’s the beauty of entrepreneurship. And when the growth comes, it is important to partner up with the right professionals to set up the most advantageous structure and for continuous tax advice and support. Separate active assets from passive assets used to grow your wealth. Ongoing creditor protection and access to the lifetime capital gains exemption. Plan for the next generation’s future.

How to Structure Your Canadian Corporation for Tax Efficiency (2026 Guide) Discover how to structure your Canadian corporation for maximum tax efficiency. Learn strategies to reduce taxes, optimize income, and stay compliant in 2026.

Whether you’re a small business or a large corporation, corporate tax planning has become increasingly complex, and yet, so necessary to position you for success and growth.

Corporate Tax Planning Strategies for Canadian Corporations in 2026 - Lorena Boda CPA In the ever evolving financial and regulatory landscape of Canada, corporate tax planning has become more critical than ever. With new tax reforms, digital economy adjustments, and increased scrutiny from authorities, businesses must proactively manage their tax strategies to remain competitive and....

📢 Ontario Personal Tax Deadline Reminder
Friendly reminder:
🗓️ April 30, 2026 is the deadline to file your 2025 personal income tax return and pay any balance owing.
💼 Self-employed? You have until June 15, 2026 to file—but any taxes owing are still due April 30 to avoid interest.

For clients with complex structures, it used to be the case that intercorporate dividends were tax-free, deductible under section 112 of the Income Tax Act. They paid a dividend to a parent holding company, not a care in the world. Until the rules changed about 10 years ago (I guess that tells you how long I’ve been in the industry). The game changed. Tax planning is more important than ever. When paying large intercorporate dividends, safe income calculations should be prepared to avoid unintended consequences. Luckily, in cases of corporate reorganizations, there are overriding rules that protect you. Our specialties include tax consulting and tax planning.

At Lorena Boda CPA Professional Corporation, we’re happy to assist with all your accounting and tax needs. Please reach out at [email protected] or at 905-281-0009.

Happy April 1st!

It’s officially T1 Personal tax season.

Just a reminder, do reach out to your accountant if the CRA tells you to pay a balance owing! With the move towards online services, individuals may not know that they are getting requests for audit to support certain claims, and they get automatically disallowed when they receive no answer.

For Canadian tax purposes, every individual is deemed to have disposed of all of their assets as at the date of death, regardless or whether or not those assets have been sold. Depending on the situation, the tax filings could be complex, and could involve the filing of the terminal personal tax return, as well as a separate T3 estate filing. For example, if an individual holds significant investments in non-registered accounts, specific calculations are required for the pro-ration of income, as well as tracking for future sales. Individuals holdings shares in private corporations may need tax planning to avoid double taxation.

Tax Returns in Canada: Trust & Estate Guide Learn how Tax Returns in Canada apply to trusts and estates. Understand T3 return filing, executor duties, and estate taxation responsibilities.

Payroll compliance is an important aspect of running a business, especially when the business is growing and employees are hired, and even in situations when the owner plans to contribute into the CPP system for retirement planning.

Our payroll fees are $75 plus HST per payroll run and a $30 plus HST software monthly fee for the preparation of the paystubs up to 6 employees depending on the frequency required. For all other payroll services fees, please reach out.

www.lorenabodacpa.com

We are now accepting new corporate clients for compilations services.

Our package starts at $2,800 plus HST and it includes the following services:
- Compilation of financial statements
- Preparation and filing of the T2 Corporation income tax return
- Year-end adjusting journal entries
- One HST filing, if applicable
- Owner compensation planning
- The above fee does not include bookkeeping services, which get charged separately, if required.

We have extensive background and experience having worked on complex files, including corporate reorganizations, from previous roles at large national accounting firms and we welcome complex clients.

At Lorena Boda CPA Professional Corporation, we’re happy to assist with all your accounting and tax needs. Please reach out at [email protected] or at 905-281-0009.