Corporate Tax Requirements

When preparing for your year-end taxes, make sure you have the following information available:

• Bank statements and reconciliations for the current year plus one month following the year-end.
• A list detailing Accounts Receivable outstanding as of your year-end date (e.g.: customer name, invoice number and the amount owing to you).  Please note any Accounts Receivable outstanding that you consider uncollectible.
• A list of any Accounts Receivable written off during the year.
• Copy of statements for any marketable securities accounts held.
• A list detailing Accounts Payable as of your year end date (e.g.: Suppliers name and the amount owed to them), including PST and GST remittances.
• Details of any acquisition or disposal of capital items during the year.  This includes land, buildings, vehicles, equipment, furniture and fixtures.  Please include copies of invoices.
• Year-end inventory count (list all of your inventory at the lower of the cost or market value for each item).
• A detailed listing of work in progress as of your year-end date.
• A detailed listing of customer deposits received as of your year-end date.
• Copies of any new finance contracts, lease agreements, mortgages, etc.
• Details or copies of your insurance policies.
• Details regarding any loan balances
• Costs related to office/shop in the home such as:
• Landscaping
• Utilities
• Insurance
• Rent
• Repairs and Maintenance 
• Mortgage interest
• Property Taxes
• Receipts (or list) of out-of-pocket expenses not reimbursed through business account.
• If you use a computerized system, copies of the trial balance and general ledger.
• Details of any active or contemplated court action.
• Payroll information, also include information regarding any dividends paid or received during the year.
• Articles and Memorandum, Certificate of Incorporation, Register of Members and Register of Directors (for new clients only).
• Copies of any resolutions or minutes.
  

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