Prepare Income Taxes
*Turbo Tax Canada 2017 - 2018* Online Tax Preparation Software
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TurboTax Canada Business Incorporated Edition
Professional Canadian tax software, the ideal solution for Canadian
small businesses with T2 corporate tax return filing.
Includes 1 return and all the tools to help you get your corporate taxes done right. Plus! File online with eFile.
Maximize your business deductions and
Calculate your tax installments
Ensure accuracy with step-by-step guidance
and double-check your return with the Active Auditor
Use only the forms & information you need - nothing more
If your a small business owners filing T2 corporate tax returns,
TurboTax Canada Business Incorporated is the easy, affordable solution
for you. It includes all the guided tax preparation you need to
better understand your tax situation, plus the Active Auditor to
keep your tax filing process simple.
If you've ever completed a T2 corporate tax return manually, you know that the process can be quite complicated with what seems to be cryptic legal jargon-filled forms and tax law changes along with intimidating government reference materials.
TurboTax Canada Business Software simplifies it all with step-by-step easy to follow guidance and automatic tax law updates.
Intuit Business Incorporated Includes:
Business Expert Interview guides you through each tax return section
Find self-employment deductions as you answer questions.
EasyStep™ Interview step-by-step guidance is included for personal and business returns.
TurboTax Canada imports your electronic tax slips from the website of your payroll and/or RRSP provider, or your epost.ca inbox - then it automatically enters the right information on the right tax forms.
Automatically calculates and completes deductions
Automatically calculates totals and balances
Built-in calculator automatically determines which expenses and what amounts are deductible.
Active Auditor, a unique-to-TurboTax Canada tool ensures you're filing and accurate return.
Save time and ensure greater accuracy - guaranteed!
TurboTax Canada Incorporated is set up to make a easy process for filing your return all while preserving the biggest refund through credits and benefits.
Regardless of whether you are carrying on a business personally
or through a corporation, one cost-effective way to save taxes is
to use a strategy called income splitting. This refers to a process
of splitting income amongst family members (spouse or children)
to achieve a lower overall tax burden by reallocating income to
be taxed in their hands.
When your spouse or children work for you in your business, you can achieve income splitting simply by paying them salaries. Salaries paid to are tax deductible as long as the amounts are reasonable and employment services are genuine. A reasonable amount of salary would be to ask yourself how much you would pay a third party for the same employment services rendered.
Some of the pros of income splitting by paying salaries to your family
Lower overall tax burden utilizing the lower tax rates that the spouse/children have relative to your business
Creation of earned income for future RRSP contributions for family members
Taking advantage of spouse’s and children’s personal tax credits which otherwise would not have been utilized by them in their own tax returns.