You're a business professional or independent contractor

You've been an employee for most of your working career, but you have finally decided to incorporate yourself and become an independent contractor.  Being an independent contractor is quite a bit different then being an employee who is paid a salary.  You are now paid differently, you are responsible for covering your own business expenses, and you now have reporting obligations with the Canada Revenue Agency.  All of this new responsibility, paperwork, and tax filings can be quite stressful and cumbersome.  Losing control of the paperwork and tax fillings can cause significant problems. 

This is where we can help!  We can help you get started correctly.  Below are some of the questions that we can help you answer.

  • How do I pay myself?  Salary or dividends?
  • How much should I pay myself?
  • What business expenses are tax deductible?
  • Do I need to register for GST?
  • When are my taxes due?
  • What are the new reporting obligations with the Canada Revenue Agency that I must follow?

It's important to set everything up correctly from the start in order to reduce future taxes owing and avoid unnecessary penalties and interest. 

If you would like to know more about how we can help you, contact us today!