Instaccountant

Another happy client! 🙌

This client had receipts from 2021 in a grocery bag. He wasn't sure if he could claim his home office and hadn't kept a proper record of his personal vs. business vehicle use.

We sorted it out, found deductions he was too nervous to claim and filed the T2125 form that won't get questioned from CRA.

If you're behind on taxes because you're not sure what's allowed, just message me.

Your corporation might be worthless 🤷

Not bankrupt. Not failing.

Just… classified as a Personal Services Business (PSB).

We recently had a client get hit with a $40,000 reassessment because of this.

If you're an incorporated IT contractor, engineer, or consultant working primarily for one client, you are on the CRA's radar.

It all comes down to who controls your hours, who provides the tools, and who directs your work.

If it looks like an employer-employee relationship, PSB rules apply ↓

❌ No Small Business Deduction
❌ Federal tax rate jumps to ~33% (+ provincial)
❌ Almost zero deductions (no home office, no vehicle, no meals)
❌ Reassessments, interest, and penalties

Incorporating doesn't automatically protect you.

Send us a message to discuss your situation before year-end.

I made $0 this year, so I don't need to file corporate taxes! 🛑

Nope. Not how it works, my friends.

When you're incorporated in Canada, your corporation is its own separate “person” in the eyes of the CRA. And that person has to file a T2 return every year it exists — even when the revenue line reads $0.00.

Filing a T2 Nil Return helps keep your corporation compliant and ready to bill clients when that next contract lands ✅

Skipping it doesn't save you a dime. It can lead to CRA demand-to-file letters, late-filing penalties, and in serious cases, even corporate dissolution.

And honestly… who has time for that?

👉 Link in bio.

This client's corporation was inactive, so there was no tax to pay. But “no activity” doesn't mean “no T2 filing.” 🤷

We filed two years of nil T2 corporate tax returns and helped get the corporation back on track with the CRA.

If you're in the same situation, send us a message to get started.

“I need to incorporate to save on taxes.” 🛑

I hear this all the time from my contractor clients. And honestly, that alone isn't a good enough reason to set up a corporation.

Yes, incorporation offers tax-deferral, liability protection, and flexibility with salary vs. dividends. But it ALSO comes with:

• Annual T2 corporate tax filings
• Separate corporate bookkeeping & bank account
• Payroll/T4 & T5 filing compliance
• $1,500–$3,500+ in extra yearly accounting fees

The question I'd ask first as your accountant 👀

How much profit will actually STAY in the business bank account at the end of the year?

❌ You draw out 90%+ of your income to cover your personal lifestyle. The tax savings are virtually zero and your new accounting fees just ate your margins.

✅ If you're consistently profitable and can leave meaningful profits in the corporation to reinvest or hold. Now we have a true tax-deferral strategy worth calculating.

Don't incorporate just because another contractor told you to.

Questions about your specific situation? DM me 👇

STOP MAILING PAPER CORPORATE TAX RETURNS! 🛑

For most Canadian corporations, CRA now requires T2 returns to be filed electronically.

That means e-filing is still required even if...

❌ Your corporation owes $0 in tax
❌ It’s your first T2 return
❌ Your corporation had little or no activity
❌ You were unaware of the requirement

If you mail a paper T2 return, the CRA can issue an automatic $1,000 penalty for non-compliance.

👉 Click the link in our bio to file your T2 return smoothly.

Every week, someone sits in our chair and says, 'I'm probably your worst client.'

They're not ⭐

They're just busy people who let bookkeeping slide. Contractors with three apps and no tracking, business owners with unfiled T2s from 2022, or gig workers who got a CRA letter and panicked.

If you're dealing with 🧙‍♂️

→ Unfiled corporate tax returns
→ Unreported Uber or DoorDash income
→ Months of bookkeeping that fell behind
→ Missing or disorganized receipts
→ A CRA letter you’ve been avoiding

It's time to talk.

✅ Zero judgment.