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Accountant for Self-Employed in Canada

Are you self-employed? We can take care of all the taxes throughout the year. Filing Taxes can help you remain updated on all your financial records.


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Accurate, Accredited, Affordable – Accounting and Tax Services for Self-Employed

As a self-employed professional, you’re in charge of everything. Your biggest challenge lies in keeping track of so many tasks on your plate at once!


For many self-employed individuals, accounting and tax preparation are daunting tasks - producing annual accounts and filing self-assessment tax returns takes up too much time. Let us step in and do it for you, so you can focus on your trade or enjoy a well-deserved rest.


We discuss and understand your accounting and tax needs and offer tailored services. 

WHAT QUALIFIES AS SELF-EMPLOYED CANADA?

When you begin trading goods or services for money without an employer, the Canadian federal government considers you self-employed. That is the moment where you are required to report all your income and file your taxes with CRA. The income will be reported as part of your personal income on your Personal Tax Return (T1).


As a self-employed, there is no distinction between your business income and your personal income, they are the same. There is no separate income tax rate for the income that you make from your self-employed business. Apart from the income tax, self-employed individuals also need to make Canadian Pension Plan (CPP) contributions and have the option to make Employment Insurance (EI) contributions as well. So, the total of their tax obligations would be Income Tax plus CPP and/or EI.

WHY DO SELF-EMPLOYED NEED AN ACCOUNTANT?

Hiring an accountant for your business may help you focus on the revenue-generating aspects of your business rather than on the paperwork.


The self-employed, regardless of industry, typically face the same problem: trying to get through the day-to-day challenges of running their own business while managing their finances. Getting an accountant to help you with your self-employed accounting and taxes in Toronto is a fantastic way to ensure all your paperwork is in order and that you are on the right side of the CRA. You no longer have to worry about the stresses of calculating your taxes, payroll, and reporting everything appropriately. 


Self-employed taxes in Canada are quite different from regular professional taxes and they have different tax deductions. Tax preparation for self-employed individuals in Toronto can be a huge headache for a lot of people. That's why we help simplify the entire tax process for you!

WHAT DO ACCOUNTANTS DO FOR THE SELF-EMPLOYED?

Most self-employed individuals avoid hiring extra help to manage their accounts and bookkeeping. Taking a professional accountant on board for self-employed accounting and tax services is pricey. But the efficient financial and tax management can save way more money than the cost of hiring a professional accountant.


 Some accountants specialize so that they can really help you out with appropriate write-offs. Your accountant will guide you on the records you need to keep for your tax returns and how long you need to record those. An accountant can also advise you to make your business as tax efficient as possible and recommend software compatible for your industry to record your income and expenses and raise invoices.


Canadian tax is complicated, whether we’re talking about GST/HST, Personal Income Tax, Self-Employed Tax, or Corporation Tax. To help ensure your compliance, you need to have an in-depth understanding of complex tax legislation and keep on top of any reforms that are being rolled out. This becomes quite time-consuming. Specialist tax accountants are experts in their field and can not only guide you on many areas of tax but also offer you peace of mind when it comes to filing for your tax returns. In other words, they will keep their ear to the ground, should know the rules inside out, and can take care of everything on your behalf.

WHY FILING TAXES PROFESSIONAL ACCOUNTANTS?

Filing Taxes is an accounting firm of highly qualified professional accountants working with self-employed individuals and providing them with high-quality accounting and bookkeeping services. For us, every client is essential, and we strive to provide them all with top-of-the-line accounting and taxation services that will help them gain a strong foothold in the industry and enable them to compete with larger firms.


There is no need to go out of your way when it comes to doing your finances taxation with Filing Taxes. As a self-employed professional you are probably already very used to working on your own time. We make this a lot easier for you as we have online accounting and bookkeeping services also.


Even our tax consultations can be done online, either through a very detailed email response or through phone and video call consultations. We value your time as much as your business and that is why we have created a process through which we can get all your tax, accounting, and bookkeeping work done without you having to schedule out of your work routine.

WHAT SELF-EMPLOYED ACCOUNTING AND TAX SERVICES WILL YOU GET AT FILING TAXES?

Filing Taxes provides self-employed individuals with specifically designed accounting and tax services to help ensure a growth-oriented initiative. Working with diverse industry specialists and self-employed individuals, we have gained unmatchable experience that is constantly helping our clients.

Our experts can do the following tasks to assist your self-employed business:

  • Bookkeeping
  • Prepare Financial Statements
  • Financing (e.g., bank loans)
  • Prepare Tax Returns
  • Payroll services
  • Business consulting
  • Better business advice
  • Accurate business accounts 
  • Innovative strategies 
  • Financial check and balance

Let us use our extensive knowledge and personal experience with self-employed individuals to help streamline your accounting and bookkeeping systems, lower your taxes, and increase your profitability so that you have more time to focus on the work you love.


Get Started Today. Contact us for a free consultation which includes an Accounting Assessment personally tailored to your business.

416-479-8532