The True Costs of Filing Corporate Taxes

March 28, 2025

Gurdeep Sangha

Filing corporate taxes costs more than just fees. Discover the hidden costs in time, stress, and lost opportunities — and how to avoid them.

While many see tax season as a simple task of hiring an accountant or filing through software, the truth is much deeper. Corporate tax filing carries with it a set of financial and non-financial costs that go far beyond the invoice you receive from your accountant.

In this article, we’ll explore these “true costs” — the visible and hidden ones — and how businesses can better navigate them. If you’re looking for peace of mind and proactive financial support, Sansar Solutions is here to guide you through the process.

Direct Financial Costs: The Obvious Ones

The most recognizable cost is the fee you pay to an accountant or tax preparer. But this can vary significantly based on your business model, revenue, and bookkeeping health. Consider the following:

Annual T2 Filing Only: Typically for incorporated businesses with clean books. Minimal complexity.
Catch-Up Bookkeeping + Filing: For businesses that haven’t maintained books throughout the year or are behind by multiple years.
Monthly Services + Year-End: Includes ongoing bookkeeping and compliance.

Company Tax Filing Price Comparison Table

Service Type	Typical Price Range (CAD)
Basic Corporate Tax Filing (T2)	$500 – $1,500
Catch-Up Bookkeeping + Filing	$2,000 – $6,000+
Monthly Bookkeeping + Tax Filing	1–2% of annual gross revenue

For personalized pricing, check out Sansar Solutions’ packages page.

Software and Tools

Some businesses opt for tax software to save money. While these tools might range from $100 to $300, they’re often designed for basic returns. They lack the customization and industry-specific insights a professional brings. Plus, errors in DIY filings can cost more than you save.

Penalties and Fines

Filing business taxes late or inaccurately isn’t just stressful — it’s expensive. The CRA charges:

5% of the unpaid tax amount as a late filing penalty
1% per month for up to 12 months after the due date
Interest on balances owing

One mistake can cost you thousands. Working with a tax professional who services your area minimizes these risks.

Indirect Financial Costs: The Hidden Burden

Time and Resource Allocation

Gathering receipts, reconciling transactions, preparing year-end reports — these tasks consume precious hours. Every moment spent on tax prep is time not spent on business growth.

That’s why many businesses outsource to Sansar Solutions’ bookkeeping and accounting solutions for year-round peace of mind.

Stress and Lost Productivity

Tax season brings anxiety. And anxiety affects performance. Stress distracts from day-to-day operations and impairs decision-making. If you or your team are mentally preoccupied with tax matters, it hurts productivity and morale.

Missed Business Opportunities

Business owners who are tied up in compliance tasks miss opportunities to network, pitch clients, or launch new initiatives. Strategic decisions get delayed, and growth suffers.

The Cost of Inadequate Planning

Without proper tax planning, you’re likely overpaying taxes. Many businesses miss:

Startup cost deductions
Capital asset depreciation (CCA)
Eligible business-use-of-home or vehicle expenses

Strategic planning can reduce your tax bill significantly. Sansar Solutions offers tailored tax planning services to help you get ahead.

Consider all the costs of filing corporate taxes with 1-flat rate

Don’t overpay for filing corporate taxes and keeping up with your bookkeeping, get 1-flat rate to do it all with Sansar Solutions.

The Value of Professional Tax Services: Your Investment

Accuracy and Compliance

Professionals ensure your return is accurate, compliant, and audit-proof. Avoiding red flags is worth every penny. Sansar Solutions emphasizes a compliance-first approach to protect your business.

Maximizing Deductions and Credits

Our team regularly uncovers overlooked deductions like:

Training and education costs
Marketing and promotional expenses
Travel and client meetings

These savings can often offset your entire filing fee.

Strategic Tax Planning

We go beyond filing. We build long-term strategies that help you defer income, leverage tax credits, and stay ahead of changes in tax law. Sansar Solutions’ advisory services are designed with growth in mind.

Peace of Mind and Time Savings

Letting a professional handle taxes means more than accuracy — it means confidence. You gain time to focus on sales, strategy, and customers — the things only you can do.

Choosing the Right Corporate Tax Preparer: Why Sansar Solutions

Specialized Corporate Tax Expertise

Sansar Solutions supports hundreds of Canadian businesses with industry-specific tax and accounting services — from restaurants and trucking to cannabis and construction.

Commitment to Accuracy and Client Success

Our CPA-trained professionals and client success team work together to ensure every file is not just submitted but optimized for results.

Proven Results

Clients consistently report fewer penalties, faster CRA turnaround times, and better understanding of their finances. You can find client reviews and stories on our website that speak to our results.

Ready to Help

We make it easy to take the next step:

Schedule your free consultation.
Get a custom quote.
Upload your documents securely.
Sit back while we do the heavy lifting.

So, What Are The True Costs of Filing Corporate Taxes?

The real cost of corporate tax filing is more than the line on your invoice. It’s in missed time, lost opportunities, and penalties that could’ve been avoided. Filing correctly, on time, and with foresight is an investment — not just a task.

Sansar Solutions is here to make that investment worthwhile. We offer more than services — we provide peace of mind, clarity, and strategy.

Connect with us today and let’s take tax season off your shoulders for good.

Common questions when about business accounting

Why does corporate tax filing cost so much?

The cost reflects the complexity of your business’s financials, the time involved in reviewing and preparing your return, and the need to ensure compliance with CRA regulations. For example, businesses with multiple accounts, high transaction volumes, or unorganized records may require significantly more work. With Sansar Solutions, we provide transparent, flat-rate pricing based on your situation — no hidden hourly fees.

What’s included in a “Catch-Up Bookkeeping + Filing” package?

This package is designed for businesses that are behind on bookkeeping or haven’t maintained their records throughout the year (or years). It includes:

Organizing and coding historical transactions
Reconciling bank and credit card accounts
Preparing financial statements
Filing corporate tax returns (T2)
CRA compliance support
It’s ideal if you’re behind by a year or more.

Can I just use tax software instead of hiring a professional?

You can — but most tax software is built for basic filings and assumes your books are already in order. It doesn’t offer personalized advice, real-time support, or strategic planning. Mistakes made using software can lead to costly penalties or audits. For more accurate, compliant, and proactive service, it’s worth working with professionals like Sansar Solutions.

What happens if I file late or make a mistake in my corporate tax return?

Late filings can result in a 5% penalty of the unpaid taxes, plus an additional 1% per month (up to 12 months). Inaccurate returns can trigger audits, reassessments, and interest charges. Sansar Solutions helps ensure accurate and timely submissions to avoid these risks.

How do I know if I’m missing deductions or credits?

Most business owners aren’t aware of all the deductions they’re entitled to. Commonly missed items include:

Startup and incorporation costs
Business-use-of-home expenses
Vehicle and travel costs
Capital depreciation (CCA)
Our team of tax professionals reviews your full financial picture to ensure no opportunities are left on the table.