T2 returns

Hi all, just curious if you guys prepare your own corporate T2 returns or hire an accountant?

Originally Posted by anony

Hi all, just curious if you guys prepare your own corporate T2 returns or hire an accountant?

Your question is very vague . . it depends on the complexity of the return. If it is a simple one, or a nil return, you fill it in yourself. Also depends if you can afford someone to do it as well.

What type of return would you consider to be too complex to fill out yourself?

Originally Posted by anony

What type of return would you consider to be too complex to fill out yourself?

I think its better if you tell me what transactions your company do and the size if possible.

Our operations have become smaller so I've filed a return recently and it was ok. Just curious if there are some DIY filers here and whether you've run into difficulties in the process.

We will be filing our T2 return for the first time this year. My partner and I are not accoutant, but we are determined to do it ourselves. Will definitely report back

Sounds good jckc, do keep us informed.

Originally Posted by jckc

We will be filing our T2 return for the first time this year. My partner and I are not accoutant, but we are determined to do it ourselves. Will definitely report back

Hope everything goes well. I'm a tax accountant, if you need help, I might be able to point you in the right direction or at least where you can find your answers.

A good site to use is: http://www.cra-arc.gc.ca/

This is the official CRA (Canada Revenue Agency) website, there's a search function you can use, look for "IT bulletin"s, they are explained in plain english as opposed to the ITA (income tax act) which is written by lawyers (good luck understanding that). MAKE SURE you are look at the heading, some documents have been replaced by more recent publications but they keep it on the website for references, but use the MOST currently one there as rules and rates change frequently.

I deal with T2 returns a lot in the company where i worked.Pm me if you need help.