Book Consultation

Gondaliya CPA

Gondaliya CPA Professional Corporation logo
100% Canadian Owned badge
Menu
Small Business Accounting · Incorporated Businesses · Licensed CPA

Small Business Accounting Services in Ontario

One licensed CPA firm for everything your incorporated business needs: monthly bookkeeping, HST, payroll, your T2 corporate return, financial statements and year-round tax planning, on a flat fee you know in advance.

Book Free ConsultationKnow Exact Fees within 2 Minutes
✅ REGISTERED CPA FIRM. VERIFY NOW ON CPA ONTARIO
★
Fully Licensed CPA Ontario
★
1300+ ★★★★★
Google Reviews
★
30-Day Money-Back Guarantee
★
60-Day Fees-Matching Policy
ACTIVELY ACCEPTING
Business Clients
Bookkeeping, HST, payroll, corporate and personal tax
Convenient Availability
Weekend and evening support until 9 PM
Always Within Reach
Just a call away when you need us

Everything Your Incorporated Business Needs, Under One Roof

Running a small corporation means juggling bookkeeping, HST, payroll if you have staff, a T2 corporate return, and the question of how to pay yourself, all while running the business itself. Handled separately, or left to year end, these turn into missed deductions, late-filing penalties and HST surprises. Handled together by one firm, they become a plan.

We keep your books clean every month, file your HST and payroll on time, prepare your T2 with the Small Business Deduction, and coordinate your personal tax so the whole picture lines up. You get a flat fee you know in advance and a CPA who plans before year end, not just files after. See our small business accountant hub and accounting and bookkeeping.

Book Free Consultation
Gondaliya CPA team

Our Small Business Accounting Services

📑

Monthly Bookkeeping

Clean, reconciled books every month in QuickBooks Online or Xero, so your numbers are always current.

🧬

HST Filing

Registration when you cross $30,000, correct input tax credits, and returns filed on your schedule.

💰

Payroll

Pay runs, source deductions remitted on time and T4s at year end, on Wagepoint, where you have staff.

🏥

Corporate Tax (T2)

Your T2 prepared and filed with the Small Business Deduction and full year-round planning.

📈

Financial Statements

Notice to Reader statements for lenders, investors and your own decisions, from clean books.

📋

Tax Planning & Personal Tax

Salary-versus-dividend mix set before year end, and your personal T1 coordinated with the corporation.

Small Business Accounting by a Licensed CPA

Everything your incorporated business needs, from monthly books to year-end tax. All fees include HST.

1

Monthly Bookkeeping Done Right

Clean monthly books are the foundation everything else is built on.

  • Every transaction recorded and reconciled to the bank in QuickBooks Online or Xero.
  • Chart of accounts built for your business so reporting and HST flow cleanly.
  • Revenue and expenses coded correctly so nothing is missed or misclassified.
  • Shareholder loan and equipment schedules kept current.
  • Books ready for the T2 at year end instead of a last-minute scramble.
2

HST Handled Correctly

Registration timing and place-of-supply rules are where small businesses slip up.

  • Sales tracked so you register the moment you cross the $30,000 threshold.
  • Correct rate charged, including for out-of-province and online customers.
  • Input tax credits claimed on business purchases so you recover the HST you pay.
  • Returns filed on your frequency, annual, quarterly or monthly.
  • Past HST corrected and brought current where a business is behind.
3

Corporate Tax & the Low Rate

The Small Business Deduction is worth real money, but only if your structure protects it.

  • Low combined rate on the first $500,000 of active business income secured.
  • Associated-corporation limit allocated correctly across a group.
  • Passive investment income watched so the federal deduction is not eroded.
  • T2 filed six months after year end, balance and instalments tracked.
  • Deductions and capital cost allowance claimed in full.
4

Paying Yourself & Personal Tax

How you take money out of the corporation changes your total tax.

  • Salary-and-dividend mix modelled against your income and goals before year end.
  • Salary builds RRSP room and is a deduction to the corporation.
  • Dividends planned around the income-splitting and Tax on Split Income rules.
  • Personal T1 prepared and coordinated with the corporation's T2.
  • Instalments and RRSP room lined up so nothing is a surprise.
5

Payroll & Employees

The moment you hire, a web of ESA and CRA rules applies.

  • Pay runs on Wagepoint with income tax, CPP and EI withheld correctly.
  • Source deductions remitted to the CRA by the 15th of every month.
  • Overtime, vacation and public holiday pay applied to the correct ESA rules.
  • Employer Health Tax and WSIB handled where they apply.
  • T4 slips and the summary filed by the February deadline.
6

Planning, Statements & CRA Support

Filing records the past; planning changes the outcome, and we do both.

  • Notice to Reader financial statements prepared for lenders and decisions.
  • Year-end planning cycle so purchases and compensation are timed well.
  • Instalments calculated and scheduled to avoid interest.
  • Books, HST and T2s brought current where a business has fallen behind.
  • CRA reviews of your T2, HST or payroll handled on your behalf.

Free Small Business Accounting Consultation

Book Your Free ConsultationKnow Exact Fees within 2 Minutes

Free Small Business Accounting Consultation

Case Studies

HST Registration Missed for a Year

A growing consultant had crossed $30,000 in taxable sales eight months earlier without registering for HST, and had not charged it. We registered the corporation, corrected the returns, recovered the input tax credits it was owed, and set up tracking so it never happens again. The figures here are illustrative of the work we do, not a specific client file.

HST corrected, credits recovered

Salary and Dividend Mix Optimised

An owner was taking all dividends, building no RRSP room and missing deferral. We modelled the salary-and-dividend mix against their income and family, set the compensation for the year, and used the corporation for deferral. The figures here are illustrative of the work we do, not a specific client file.

Compensation planned, deferral captured

Two Years of Filings Brought Current

A small business had fallen two years behind on bookkeeping, HST and its T2 while focused on growth. We rebuilt the records, filed the outstanding returns in order, and pursued penalty relief, then set up monthly bookkeeping going forward. The figures here are illustrative of the work we do, not a specific client file.

Filings current, penalties reduced

Associated-Company Limit Corrected

An owner of two related corporations had claimed the full $500,000 Small Business Deduction on each, a group error the CRA would reassess. We allocated the shared limit correctly across the group and corrected the returns before it was flagged. The figures here are illustrative of the work we do, not a specific client file.

Group limit allocated correctly

What Your Small Corporation Actually Pays in Tax

A qualifying Ontario CCPC pays far less on active business income than the general rate. Here is how it breaks down for 2026.

IncomeCombined Ontario RateNotes
First $500,000 active income (to June 30, 2026)12.2%3.2% provincial + 9% federal, with the Small Business Deduction
First $500,000 active income (from July 1, 2026)11.2%Ontario provincial rate drops to 2.2%
Active income above $500,00026.5%General corporate rate, no Small Business Deduction
Associated corporationsShare one $500,000 limitNot $500,000 each; the limit is allocated across the group

The low rate is not automatic. You must be a Canadian-controlled private corporation earning active business income, and passive investment income between $50,000 and $150,000 reduces the federal deduction. We plan around these so your corporation keeps the low rate. See our corporate tax planning.

HST for Your Small Business

QuestionThe Answer
When must I register?Once taxable sales exceed $30,000 over a rolling four-quarter period
What do I charge?13% in Ontario, but place-of-supply rules set the rate for out-of-province sales
Can I recover HST I pay?Yes, through input tax credits on business purchases, once registered
How often do I file?Annually, quarterly or monthly depending on your revenue
What if I sell online or across provinces?You may need to charge another province's rate; we set this up correctly

Crossing $30,000 is easy to miss. Many small businesses pass the threshold mid-year and do not realise they were required to register and collect HST. We track your sales and register you at the right time so a missed registration never becomes a liability.

The Deadlines That Cost You If You Miss Them

ObligationDeadlineWhy It Matters
T2 corporate returnSix months after fiscal year endLate filing brings a penalty of 5% plus 1% per month
Corporate tax balanceThree months after year end (most CCPCs)Payment is due before the filing deadline; interest runs from here
Tax instalmentsQuarterly or monthlyRequired once tax payable exceeds the threshold; interest if missed
Payroll remittancesBy the 15th of the following monthInterest compounds daily; late penalty 3% to 10%
T4 slipsBy the end of FebruaryPer-slip penalties apply to late information returns
HST returnPer your filing frequencyLate filing and remittance both carry penalties and interest

What Our Small Business Accounting Service Includes

Everything your business needs, on a flat fee. No hourly billing. All fees include HST.

IncludedWhat We Do
Monthly bookkeepingWe keep your books clean and reconciled every month in QuickBooks Online or Xero.
HST filingWe register you when required and file your returns with correct input tax credits.
PayrollWe run payroll, remit source deductions and file T4s where you have staff.
Corporate tax (T2)We prepare and file your T2 with full planning, not just compliance.
Financial statementsWe prepare Notice to Reader statements for lenders and your own decisions.
Tax planning & personal taxWe set your salary-and-dividend mix and prepare your personal T1 alongside the T2.

Why Choose Gondaliya CPA for Small Business Accounting?

💼

Full-Service, One Firm

Bookkeeping, HST, payroll, T2 and personal tax handled together, not scattered across providers.

🏢

Licensed CPA Ontario

A certified CPA team stands behind every return and every statement.

💰

Flat Fee, Quoted Upfront

All fees including HST, no hourly billing, no surprises.

📱

Fully Remote

Your business accounting handled through our secure portal, wherever you are.

Google Reviews
CPA Ontario
QuickBooks
Wagepoint
Xero
Stripe
Rotessa
Hubdoc
ADP

Transparent Flat-Fee Small Business Pricing

ServiceFeeFrequencyDetails
Accounting ConsultationFREESame dayReview of your books, HST and structure with an exact flat-fee quote.
Monthly Bookkeeping & HSTQuoted upfrontMonthlyClean books, reconciliations and HST filed on your frequency.
Year-End & T2Quoted upfrontAnnualFinancial statements, corporate tax return and tax planning.
Full Business PackageQuoted upfrontAnnualBookkeeping, HST, payroll, T2, statements and personal tax together.
Incorporation & SetupQuoted upfrontOne-timeIncorporation, share structure and CRA account setup.

All fees include HST, so the number quoted is the number you pay. Payment is by Interac e-Transfer to info@gondaliyacpa.ca with auto-deposit enabled and the security question set to Not Applicable. Please use our pricing calculator for an exact figure.

Know Your Exact Fee Before We Start

Flat fee, fixed in advance. All fees include HST. 30-Day Money-Back Guarantee.

Calculate My Fee

Small Business Accounting: Cities We Serve

Licensed CPA accounting for small businesses across Ontario, delivered virtually.

TorontoMississaugaBramptonScarboroughEtobicokeNorth YorkMarkhamVaughanOttawaAll of Ontario

Frequently Asked Questions

What does your small business accounting service include?
Everything an incorporated small business needs on one flat fee: monthly bookkeeping, HST filing, payroll if you have staff, your T2 corporate return, financial statements and year-round tax planning. Your personal T1 is coordinated with the corporation. One firm, one fee, all fees include HST.
Should I incorporate my small business?
If you earn more than you draw personally, usually yes. Incorporation lets you keep active income at the low corporate rate, defer personal tax, and plan how you pay yourself. But it adds a T2 and annual compliance, so it is not right for everyone. We model your specific numbers before you decide.
What tax rate does my small corporation pay in Ontario?
A qualifying Ontario CCPC pays a combined 12.2% on the first $500,000 of active business income, made up of 3.2% provincial and 9% federal. On July 1, 2026 the provincial rate drops to 2.2%, bringing the combined rate to 11.2%. Income above $500,000 is taxed at the general 26.5% rate.
What is the Small Business Deduction?
It is what gives your corporation the low rate on the first $500,000 of active business income instead of the general rate. To qualify you must be a Canadian-controlled private corporation earning active business income. Keeping profit in the corporation and paying yourself what you need is the core of the deferral. We plan it each year.
Does the $500,000 limit apply to each of my companies?
No. The $500,000 Small Business Deduction limit is shared among associated corporations, not $500,000 each. If you own multiple related companies, the limit is allocated across them, which needs planning. We handle the allocation so the group claims it correctly.
Can passive investment income reduce my low rate?
Yes, federally. When a corporation's passive investment income runs between $50,000 and $150,000 in a year, the federal Small Business Deduction is reduced on a sliding scale and eliminated at $150,000. We monitor your passive income and plan around the threshold. Ontario does not apply the same provincial restriction.
When do I need to register for HST?
Once your taxable sales exceed $30,000 over a rolling four-quarter period you must register and start collecting HST. Many small businesses cross the threshold without noticing. We track it, register you at the right time, and file your returns so you claim every input tax credit you are owed.
How much does small business accounting cost?
We quote an exact flat fee upfront based on your business, with no hourly billing, and all fees include HST. You know the number before we start. Please use our pricing calculator for an exact figure.
Do I need monthly bookkeeping or just year-end?
Monthly bookkeeping keeps your HST accurate, your numbers current for decisions, and your year end straightforward instead of a scramble. Year-end-only bookkeeping is cheaper but usually costs more in rushed work and missed deductions. We run it monthly so nothing piles up.
When is my T2 corporate return due?
The T2 is due six months after your fiscal year end. Any balance owing is generally due three months after year end for qualifying CCPCs, two months for others, so the payment deadline comes before the filing deadline. We track both so you are never late on either.
What can my small business deduct?
Ordinary costs incurred to earn business income: rent, supplies, wages, professional fees, insurance, vehicle and home-office costs within the rules, and equipment through capital cost allowance. The line is that the expense must be to earn income. We make sure you claim everything you are entitled to and nothing that invites a reassessment.
How should I pay myself from my corporation?
With a planned mix of salary and dividends, decided before your year end. Salary builds RRSP room and is a deduction to the corporation; dividends are simpler but carry no RRSP room and interact with other rules. The right split depends on your income and goals. We model it and set it up.
Can you handle my personal tax too?
Yes. Your personal T1 and the corporation's T2 connect through your salary and dividends, so we prepare both and coordinate them, making sure the compensation mix, RRSP room and instalments line up. One firm for both is how the planning actually works.
Do you do payroll for my small business?
Yes. If you have employees we run payroll on Wagepoint, withhold and remit income tax, CPP and EI on time, apply the correct ESA rules, and file your T4s at year end. See our payroll services.
What accounting software should my business use?
We work with QuickBooks Online or Xero, set up with a chart of accounts built for your business so bookkeeping, HST and reporting flow cleanly. We handle the setup and the monthly running, so you get clean books without wrestling with the software.
Can you catch up a business that is behind?
Yes. If bookkeeping is behind, HST was never filed, or T2s are unfiled, we rebuild the records, correct the HST, and bring the filings current, pursuing penalty relief where it is available. See our catch-up corporate tax filing.
What if the CRA audits my small business?
We handle it. We prepare the documentation, reconcile your numbers, and respond to the CRA on your behalf, whether the review is of your T2, your HST, or your payroll. See our CRA audit resolution services.
Do you prepare financial statements?
Yes. We prepare Notice to Reader financial statements from clean books, which your corporation needs for its T2 and which lenders and investors may ask for. The balance sheet reflects your real equity and the numbers hold up when someone reviews them.
What are corporate tax instalments and do I have to pay them?
If your corporation's tax payable exceeds a threshold, the CRA requires quarterly or monthly instalments during the year rather than one payment at year end. Missing them causes instalment interest. We calculate your instalments and set up a schedule so you stay current.
Do you serve businesses outside Toronto?
Yes. We are a licensed Ontario CPA firm serving small businesses across Ontario and Canada, virtually. Everything is handled through our secure portal, so your location is never a constraint.
How is a sole proprietor taxed differently from a corporation?
A sole proprietor reports business income on their personal T1 and pays personal rates, plus both the employee and employer share of CPP. A corporation is a separate taxpayer with its own T2 and the low corporate rate. Which is better depends on your income and goals. We help you choose and, if it fits, incorporate.
What is a CCPC and why does it matter?
A Canadian-controlled private corporation is a private company controlled by Canadian residents. Only a CCPC qualifies for the Small Business Deduction and the low rate on active income. Keeping your CCPC status is what protects the low rate, and we make sure your structure and filings preserve it.
Can you help me incorporate?
Yes. We handle the incorporation, the share structure, and registering your corporation for a business number, HST and payroll accounts, so you are compliant from the first day. See our incorporation services.
Do you handle GST/HST for online and out-of-province sales?
Yes. If you sell across provinces or online, the place-of-supply rules determine which rate you charge, and getting it wrong creates a liability. We set up your HST correctly for where your customers are and file the returns. See our GST/HST filing.
How do I split income with my family?
Within limits. A share structure with family shareholders can support some income splitting, but the Tax on Split Income rules tax dividends to family members at top rates unless they meet an exclusion. The structure has to be set up correctly and the payments justified. We design it against the current rules.
How does capital cost allowance work?
Equipment, vehicles and other capital assets are deducted over time through capital cost allowance in the correct class, not expensed all at once. Getting the class and timing right affects your deduction and your balance sheet. We maintain the schedule and claim the allowance properly each year.
Can you help me plan before year end, not just file after?
Yes, and that is where the savings are. Before your year end we review your income, set the salary-and-dividend mix, time purchases and plan instalments. Filing after the fact only records what happened; planning before changes the outcome. We build a planning cycle into the engagement.
How quickly can you take over my accounting?
Once we have your prior filings, access to your books and your business details, we can take over within a few weeks, sooner if a deadline is close. We start with a review of your HST and prior year end, since that is where problems usually hide.
Why choose a CPA firm over doing it myself?
Because the cost of a missed deduction, a late filing, or an HST error usually exceeds the fee, and your time is better spent running the business. A licensed CPA firm gives you clean books, correct filings, and a plan, on a flat fee you know in advance. That is the trade most owners are glad they made.
How do I get started?
Please book a free consultation and tell us about your business, whether you are incorporated, and how you are currently paid. We review your books and structure, quote a flat fee, and take over your accounting. Book Free Consultation →

Meet Your Small Business Accounting Specialists

Sharad Gondaliya, CPA

Sharad Gondaliya, CPA

Founder & Managing Director
Gondaliya CPA Professional Corporation

Sharad advises small business owners on incorporation, corporate tax planning, HST and compensation.

Vandana Goel, CPA

Vandana Goel, CPA

Senior Accountant
Gondaliya CPA Professional Corporation

Vandana runs bookkeeping, HST, payroll, financial statements and year-end for small business clients.

What Our Clients Say

1300+ five-star reviews from business owners across Ontario and Canada.

Related Industries We Serve

Accounting for Healthcare Providers

  • Corporate tax planning for healthcare providers
  • Business tax filing for clinics
  • Payroll services for healthcare staff

Accounting for Pharmacists

  • Corporate tax planning for pharmacies
  • Bookkeeping for pharmacy businesses
  • Payroll & compliance services

Accounting for Chiropractors

  • Corporate tax planning for chiropractors
  • Bookkeeping & payroll services
  • Business tax filing & advisory

Accounting for Doctors

Small Business Accounting Has Traps. Let One CPA Firm Handle It All.

Gondaliya CPA keeps your books clean, files your HST and payroll on time, prepares your T2 with the Small Business Deduction, and coordinates your personal tax, wherever your business is. Flat fee. All fees include HST.

Licensed CPA Ontario
1300+ Five-Star Reviews
Full-Service, One Firm
Flat-Fee, Including HST
Book Free ConsultationSmall Business Accountant
Scroll to Top