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Hello another T2 first timer filer but Im so very lost!
05-18-2016, 01:05 AM
Post: #1
Hello another T2 first timer filer but Im so very lost!
Hello,
Looking for some help and guidance.
The issue, I have not filed my first year filing for a small corporation since it opened in 2008 and has now gone dormant.
The need, I need to file my election of start date and first T2 corporate short filing then I can get the remaining years filed which I suspect will be easy once I have first filing out of the way.
The history, I had started small personnel proprietorship business back in 1993 and made a little loss and earnings here and there while I developed small business that one day I could do full time when I departed the military. Filed no problem did HST and life was fine. Deployed over seas and was badly injured in 1995. I spent years recovering from a traumatic brain injury and other complications. Kept moving forward with business planning and building knowing one day soon Army would kick me out for the injury. 2003 was medically released tried to work in my business areas and build them to full time. made money 2003 to 2007 as a personal proprietorship and made too much to write off to negative in 2007 so wanted to incorporate as per normal approach. My business was as a realtor so simple transaction one product no inventory. I got all paperwork done early 2008 to incorporate. The plan was to use a 2007 mid summer back date for incorporation as a first year filling and funnel all my 07 and 08 tax into one year at start up pay the lower rate. simple normal so far. Major motorcycle accident summer 2008 when I was to file re injured my brain and i have been toast since. Never filed my election in 2008 and never really went back to work and business slowly drifted and failed in 2011. zero income since 2011 almost none in 2010 and little in 09.

The Request, I have no money to pay an accountant but I have some to get this ball rolling. my first two attempts to small accounting firms has been not interested too complicated or cant find start or end no real bookkeeping was done dont have the time to help you. I am brain injured but I can operate once Im given some guidance. I would like someone to guide me through a T2 Short first filing. Simple approach basic stuff I have all my receipts and expenses in order of area that is listed on the tax form like, maintenance, advertising, insurance etc. They are just not in a ledger correlating to a bank account deposit or withdrawal. Just want to file elect a start date show revenue then show expenses by area minus one from other do the CCA thing and put it all down in proper form area and send it in.......sounds simple in my broken brain.

Thoughts? Dont say go get an accountant dont have the money. Any 3rd year accounting students want to have coffee show me help me and I pay ya?

Need serious help before CRA bits my head off cause I have not even filled a disabled deduction form, or I lose my court case cause I cant prove I lost my employment due to accident. Drunk Drugged driver with no insurance or driver license hit me go figure he walked away with nothing but a fine.

Anybody want to give me a suggestion?

Kelly
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05-19-2016, 09:55 PM
Post: #2
RE: Hello another T2 first timer filer but Im so very lost!
No takers for advise? Any small incorporated businesses out there that do there own T2 Short want to guide me a little?

Kelly

(05-18-2016 01:05 AM)KellyG Wrote:  Hello,
Looking for some help and guidance.
The issue, I have not filed my first year filing for a small corporation since it opened in 2008 and has now gone dormant.
The need, I need to file my election of start date and first T2 corporate short filing then I can get the remaining years filed which I suspect will be easy once I have first filing out of the way.
The history, I had started small personnel proprietorship business back in 1993 and made a little loss and earnings here and there while I developed small business that one day I could do full time when I departed the military. Filed no problem did HST and life was fine. Deployed over seas and was badly injured in 1995. I spent years recovering from a traumatic brain injury and other complications. Kept moving forward with business planning and building knowing one day soon Army would kick me out for the injury. 2003 was medically released tried to work in my business areas and build them to full time. made money 2003 to 2007 as a personal proprietorship and made too much to write off to negative in 2007 so wanted to incorporate as per normal approach. My business was as a realtor so simple transaction one product no inventory. I got all paperwork done early 2008 to incorporate. The plan was to use a 2007 mid summer back date for incorporation as a first year filling and funnel all my 07 and 08 tax into one year at start up pay the lower rate. simple normal so far. Major motorcycle accident summer 2008 when I was to file re injured my brain and i have been toast since. Never filed my election in 2008 and never really went back to work and business slowly drifted and failed in 2011. zero income since 2011 almost none in 2010 and little in 09.

The Request, I have no money to pay an accountant but I have some to get this ball rolling. my first two attempts to small accounting firms has been not interested too complicated or cant find start or end no real bookkeeping was done dont have the time to help you. I am brain injured but I can operate once Im given some guidance. I would like someone to guide me through a T2 Short first filing. Simple approach basic stuff I have all my receipts and expenses in order of area that is listed on the tax form like, maintenance, advertising, insurance etc. They are just not in a ledger correlating to a bank account deposit or withdrawal. Just want to file elect a start date show revenue then show expenses by area minus one from other do the CCA thing and put it all down in proper form area and send it in.......sounds simple in my broken brain.

Thoughts? Dont say go get an accountant dont have the money. Any 3rd year accounting students want to have coffee show me help me and I pay ya?

Need serious help before CRA bits my head off cause I have not even filled a disabled deduction form, or I lose my court case cause I cant prove I lost my employment due to accident. Drunk Drugged driver with no insurance or driver license hit me go figure he walked away with nothing but a fine.

Anybody want to give me a suggestion?

Kelly
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05-25-2016, 01:47 PM
Post: #3
RE: Hello another T2 first timer filer but Im so very lost!
Seriously nothing? How about something simple like walk me through a form then.
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08-30-2016, 03:37 AM
Post: #4
RE: Hello another T2 first timer filer but Im so very lost!
You can phone CRA and ask for some guidance. There are step-by-step how to publications on their website.
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