The professional firm’s tax calendar
Everything in the general calendar, plus the owner-pay dates and instalment rhythm that matter when the corporation is also your paycheque.
Free · Built for incorporated consultants, engineers, and practices
The owner-pay extras
- T5 slips for dividends the corporation paid you Last day of February
- T4 for your own salary, if you pay yourself one Last day of February
- RRSP deadline, which your salary decision feeds 60 days into the year
- Corporate instalments once your tax bill is big enough Monthly or quarterly
- Personal instalments if CRA asks for them Mar 15 · Jun 15 · Sep 15 · Dec 15
The habits that keep owner-pay clean
Decide salary vs. dividends before December, not after. The mix changes your personal tax, RRSP room, and CPP, and the good options narrow once the year closes. It is a calculation, not a tradition.
Set instalments aside monthly. Quarterly CRA payments hurt when they surprise you and do not when they are already sitting in a tax account. Forecast from live numbers, not last year's.
Watch passive income inside the corporation. Investment income past the threshold starts grinding away your small business deduction. It is fixable when watched and expensive when discovered on the T2.
This is what taxifi watches year-round: accounting for professional firms.
Numbers you trust, planning that happens on time
taxifi does the books, the instalments, the slips, and the T2, for one flat monthly price.
Get StartedCommon questions
What tax deadlines apply to professional corporations in Ontario?
Professional corporations must file T2 returns within 6 months of year-end, pay corporate tax within 2 months (or 3 months for small CCPCs), and remit payroll source deductions monthly.
When are professional dues deductible for tax purposes?
Professional dues paid to maintain membership in a professional body are deductible in the tax year they are paid. They should be claimed on your T2 corporate return or T2125 for sole proprietors.
Do professional firms need to file T5018 contractor payment reports?
Professional firms in construction-related services must file T5018 slips by 6 months after their fiscal year-end for any subcontractor payments over $500.