How to apply for GST/ HST credit in Canada?
The Goods and Services Tax (GST) Credit, referred to as the Harmonized Sales Tax (HST) Credit in certain provinces, is a tax-free payment issued by the Canadian government every quarter.
Bookkeeping For Self-employed People
Work Freely By Outsourcing Bookkeeping Worries to Taxccount
The number of independent contractors and freelancers in Canada's corporate world is increasing. The need for independent contractors and other self-employed workers is expected to increase further in the upcoming years as more and more individuals try to utilize their abilities online with remote employment.
Bookkeeping for independent contractors and freelancers requires specialized services and software features. Freelancers don't necessary require the sophisticated capabilities that a huge firm would, but they do need more comprehensive tools than bookkeeping for personal use or families.
For Canadian businesses, especially those run by independent contractors and freelancers, Taxccount specializes in accounting and bookkeeping. We are committed to advancing your professional and corporate endeavours and are aware of the value that expert bookkeeping can bring to your company.
With the most reliable accounting software from Taxccount and best-in-class bookkeeping for freelancers and the self-employed, you can easily choose to upgrade your reputation and brand. Each piece of self-employed bookkeeping software has distinct features, capabilities, and costs. Some applications are more suitable for freelancers who need to keep track of specific tasks for several customers, while others are better suited for independent contractors with various business models.
Self-employed people, independent contractors, and freelancers require sophisticated bookkeeping skills to keep track of their costs, invoicing, and cash flow, even if the range of functionality offered varies from software to software. Freelancers often require far more in their software than someone who solely uses it for personal or family usage, including many of the same bookkeeping features as big businesses.
All-inclusive Bookkeeping Services for Self-employed Professionals in Canada
For our clients who are self-employed, Taxccount employs a variety of bookkeeping programs. Particular features include thorough expenditure monitoring, automated client billing, inventory management, project management, time tracking connectors, mobile app alternatives for convenient working on the go, Xero and QuickBooks Online.
Self-employed people and freelancers have certain costs to keep track of and need to maintain structured books for paying taxes at the end of the year. We recognize the significance of this and build our suggestions for bookkeeping software and applications on these particular requirements.
The major services covered under bookkeeping services in Canada include:
Doing bookkeeping for self-employed individuals includes tasks like:
- Recording receipts
- Unifying expenses
- Releasing invoices
- Bringing new clients and projects
- Payment collection
- Bill payments
- Merging credit card statements and bank statements
- Assessing the time spent on projects
- Tracking PST/GST/HST
- Payroll management
- Readying tax filings
These responsibilities are handled without taking up any of your valuable time thanks to bookkeeping services that cater to independent contractors and freelancers. For complete bookkeeping services, freelancers and independent contractors in Canada use Taxccount. Don't jeopardize your books' correctness or your time's investment. Get in touch with a reputable bookkeeping company like Taxccount right now to keep your freelancing business growing.
You can readily identify where you are spending the most money and where you are making the most money thanks to bookkeeping. Making a realistic company budget and learning how to increase your income both result from looking at your expenses.
Get Professional Bookkeeping Services in Canada For Self-employed Professionals
Are you prepared to take charge of your money and budgeting? We can help with bookkeeping for independent contractors and freelancers.
The staff at Taxccount is available to you whether you want to work with a certified bookkeeper year-round, get suggestions for a bookkeeping app or software, or just need some help getting started. We want to help you get the most out of your money because we understand how important every dollar is when you work for yourself or as a freelancer.
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What Our Client Say
Taxccount has been our primary tool for several years. They were the crucial component we were searching for! Our entire business has been made simpler by their bookkeeping, and tax season is no longer as difficult. Over the years, the accountants and bookkeepers have all offered us unmatched guidance and tax planning that has helped us save money and time. We anticipate continuing our relationship with Taxccount for many years.
Kris Sharma
We are quite grateful to the accountants at Taxccount. Being a small enterprise, we have got the sufficient finances or time to hire an in-house bookkeeper and we have spent years muddling through on our own. The first month after deciding to work with Taxccount for payroll and accounting services, it was as if a weight had been removed! Since we are involved in providing an ecosystem for businesses, Taxccount’s accounting services come in extremely handy for us and make our job much easier.
Sudhith PD
Our staff now depends heavily on Taxccount’s services. Without them, I can't fathom how well my business would operate. They assisted me in maintaining my highly erratic bookkeeping and organizing it so that when December rolls around, neither my employees nor I would be in a panic. We never imagined that the tax season would go well, but Taxccount made it much easier than in previous years. I can't speak highly enough about their professionalism and experience!
Daljeet Singh Bhatia
For the filing of our company's taxes, we rely on Taxccount’s tax-related services. We discovered that tax filing had suddenly become too hard for us to do alone as our business and workforce expanded. The tax accountants have greatly reduced our amount of taxable income by locating tax benefits for us that we never would have discovered on our own. They collaborated with us all year long to provide advice on potential strategies for long-term tax minimization. We were so pleased with the tax preparation and planning services provided to our business that I asked them to also handle the personal taxes for my family.
Prashant Sharma
Our Blog
20 popular Canadian tax deductions and credits in 2023
The taxation system of each country is different. If you have just moved to Canada and are still figuring out the tax system, then this chapter will be really helpful for you. You will understand in detail about the 20 most popular Canadian tax deductions and credits relevant in 2023.
Taxes for new Canadians: Step-by-step guide for filing your taxes
If you are a newcomer in Canada and are filing your taxes for the first time, it can be a daunting and overwhelming experience. But when you have the right information, the process gets easier.
Are you required to file an income tax return?
When you generate income through employment, your employer is required to withhold tax installments from each paycheck and forward them to the Canada Revenue Agency (CRA).
Tax breaks for newcomers in Canada
Moving to Canada might seem to be an easy decision considering the vast opportunities it offers. But the one thing that most people tend to forget is the taxation system. Gaining insight into the functioning of income tax in this context can enable you to utilize tax advantages, which encompass potential financial benefits through government payments.
What is eligible dividend in Canada?
Dividends represent the distributions made to investors from a company's profits. Among these dividends, some are categorized as eligible, while others are termed ordinary or ineligible dividends.
