You are currently viewing our boards as a guest which gives you limited access to view most discussions, articles and access our other FREE features. By joining our free community you will have access to post topics, communicate privately with other members (PM), respond to polls, upload your own photos and access many other special features. Registration is fast, simple and absolutely free so please, join our community today!
If you have any problems with the registration process or your account login, please contact contact support.
1. Get a good help- whether this is an accountant or somebody familiar with the subject.
2. Set up an RRSP – the allowance you contribute is tax free
3. Deduct child care costs and medical expenses -
4. Office expense – if you have separate office or you are using part of your house deduct this percentage off your monthly payments.
5. Keep good records – save all your receipts and use some simple software to keep track of your credits and debits
I think getting a good accountant is the most important of all. I have a friend an IT contractor like me, who does his taxes by himself. He is probably losing money, because he doesn't want to consult a professional accountant, but that is his choice. I would never do my own corporate tax return by myself.
I wouldn't do my corporate taxes myself, if I had a corporation. Your friend definitely loses money and I don't think he can file his companies’ taxes without being chartered accountant in the first place. Not every accountant can file corporate taxes as far as I know.
You are right. Only Chartered Accountant can file corporate taxes.
One more tip from me. Don't leave everything for the last moment. Every month find a time to sort your bills and receipts and file them. This will save you a lot of trouble when the tax season comes.
Top 5 Tax Tips for Self-employed
Linear Mode
