Corporate tax accountant for Aldergrove corporations
Aldergrove is small-corporation country — owner-operated trades, shops and services, many of them incorporated in the last few years. The first two or three T2 returns set patterns that are awkward to change. EverStone prepares them remotely for Aldergrove businesses.
Quick answer: The first corporate return after incorporating establishes the opening balance sheet, the fiscal year end and the shareholder account, and each is difficult to change later. EverStone prepares first and subsequent T2 returns for Aldergrove corporations remotely at a fixed fee. Once books and payroll are added, a one-owner trades company typically pays $500–$700 a month with the year-end return built in.
The year-end covers the T2 with Schedule 1 and Schedule 50, the CCA schedule, the small business deduction, T4 or T5 slips for the owner’s pay, and the instalments for the year ahead.
On this page
- A first T2 is mostly a set of decisions
- What came across from the sole proprietorship
- Choosing the year end while it is still free
- The shareholder account starts clean and rarely stays that way
- The accounts you now have to feed
- What the rates actually are
- How the work is done
- Key T2 dates for an Aldergrove corporation
- Who this is for, and who it is not
- Aldergrove corporate tax questions
A first T2 is mostly a set of decisions
A first corporate return locks in several choices. Filing it sets the fiscal year-end, changeable afterwards only with permission. It establishes the opening balance sheet, including assets from a prior unincorporated business, opens the shareholder account, and adopts accounting policies that must stay consistent. None saves visible tax in year one; all decide how much friction the corporation carries for life. The just-incorporated checklist covers the sequence.
What came across from the sole proprietorship
Most Aldergrove corporations began as sole proprietorships, and assets rarely arrive with paperwork. A truck, tools, trailer or materials moved into the company, often with no bill of sale or value. That is a disposal by you and an acquisition by the corporation, and unrecorded it leaves the asset schedule wrong from day one, losing depreciation or overstating it without support. A section 85 election can defer personal tax on the transfer, but it has a deadline and cannot be made retroactively at leisure.
Choosing the year end while it is still free
December 31 is the instinct and often the worst choice: corporate close, personal tax season and the slowest cash month collide. A year-end at a natural trough gives a cleaner balance sheet, time for bonus or dividend decisions before the deduction deadline, and a quieter filing date. The return is generally due six months after year-end, the balance owing earlier. See Choosing a fiscal year end.
The shareholder account starts clean and rarely stays that way
In a small owner-operated corporation, money moves constantly: personal purchases on the business card, cash taken for home, company costs paid personally. Each posts to the shareholder account, which, unreviewed, drifts into a balance the owner owes the company. Under subsection 15(2) of the Income Tax Act, a shareholder loan must generally be repaid within one year after the end of the taxation year it was made in, or the full balance is added to personal income. Shareholder loans explains the rule.
The accounts you now have to feed
Incorporating creates a business number with program accounts, each on its own rhythm. The RC account carries the T2. A GST account files monthly, quarterly or annually. An RP account opens once anyone, including the owner, is paid a wage, and its source deduction remittances do not wait for year-end; a missed one is a separate penalty. Business number program accounts sets out what each does.
What the rates actually are
An Aldergrove corporation pays 11% combined in British Columbia on active income eligible for the small business deduction (9% federal plus 2% provincial) up to a $500,000 business limit, and 27% above it or on non-qualifying income. Well inside the limit, the key number is the cost of getting money out personally, the second layer of tax, so pay decisions and the corporate return belong in one conversation.
How the work is done
EverStone is a fully virtual, one-CPA firm. There is no Aldergrove office and no local staff. Records arrive by secure upload, the return is reviewed on video and e-signed, and filing is electronic. For a new corporation, year-one questions go to the person still on the file in year five: what to do with the truck, when the year-end falls, whether to run payroll.
A new company has no history to plan from, so the budget behind the planning is where year-end planning starts, well before December.
Where the same file also needs Aldergrove bookkeeping, that is handled in one engagement.
Written and checked by a Chartered Professional Accountant at EverStone CPA, which works with newly incorporated owners in Aldergrove, the Township and further afield. Updated . About the firm · Send an enquiry
Key T2 dates for an Aldergrove corporation
| Obligation | When it is due |
|---|---|
| Balance owing | 3 months after fiscal year-end, for a CCPC claiming the small-business deduction |
| T2 return filing | 6 months after fiscal year-end |
| Instalments | Monthly or quarterly, where your corporation is required to pay them |
| Sales tax where you operate | 5% GST plus 7% BC PST: two registrations, two returns |
Source: All CRA deadlines. General information, not advice.
Free tools for Aldergrove businesses: salary-versus-dividend calculator.
Who this is for, and who it is not
For an Aldergrove owner newly incorporated, or about to be, wanting the first year-end set up by the CPA who keeps the file. Not for price shoppers or weekly visits. All remote, on published fees.
What happens when you get in touch
For a new Aldergrove corporation the first month looks like this.
- Email enquiry. We go over the incorporation, any filings already made and anything late. A fixed fee arrives in writing afterwards; you decide.
- CRA representative access. With authorization in place, we pull CRA balances and letters ourselves. Coming from another accountant? The file transfer is requested in week one.
- A clean start. The opening balance sheet is settled, any gaps are filed, and the first year’s T2 and instalment dates are mapped out.
Send an enquiry or put one question to a CPA first.
Aldergrove corporate tax questions
When is my first corporate return due?+
How do I get my truck and tools into the company?+
Should my year end be 31 December?+
What is the tax rate on a small Aldergrove corporation?+
Do I need a payroll account if I am the only person?+
Is there an office in Aldergrove?+
What does a corporate tax return cost in Aldergrove?+
Do you work with businesses outside Aldergrove itself?+
Related services and local guides
More for Aldergrove companies, the neighbouring cities, and the references cited above.
Starting fees
Every fee is fixed in writing before any work begins.
- Corporate year-end and T2 returnfixed fee, quoted in writingThis page
- Monthly bookkeeping, GST/PST filing includedfrom $325 a month
- Payroll, remittances, T4s and ROEsincluded in monthly bookkeeping
- Books, payroll and the year-end T2 together$500–$700 a month
- Personal tax return (T1)from $125; self-employed or rental $275–$500
- Catch-up bookkeepingfrom $2,200 per year of records
- Controller or CFO supportcontroller from $1,650, CFO from $2,750 a month
- One-off advice call with a CPA$225 plus GST
