Long Term debt is any loans, liabilities or financial obligations lasting over one year. These amounts will not become due within one year of the balance sheet date. They will be capitalized on the balance sheet.
The governement provides a six month grace period to submit your incorporation taxes and registered company taxes, so for example if your year end is December 31st, you have till June 30th to submit your taxes.
Since 2004, 514 Accounting has provided start-ups, small and medium sized businesses all over Montreal, Quebec and Ontario with affordable, reliable, and professional accounting and consulting services.