Accountants for Self-Employed Individuals

When you work for yourself, income may be irregular and no employer withholding automatically covers income tax, contributions or sales taxes. Invoices, collections, expenses, business kilometres, instalments and supporting records therefore need to be tracked throughout the year — not reconstructed a few days before the return is due.

Impôts Ici provides remote accounting and tax services for consultants, professionals, creators, tradespeople and other self-employed individuals. We can organize the books, prepare the return, review sales tax registration and help separate business expenses from personal spending.

An expense is not deductible simply because it was paid from a business account. It must be incurred to earn income and supported by adequate records.

Eligible expenses depend on the activity. Advertising, software, licences, professional fees, supplies, insurance, subcontractors and banking charges may be relevant when the business connection is clear. A home office calculation is based on space and use, and some home expenses cannot create or increase a loss in the same way as ordinary operating costs.

Vehicle expenses require a mileage record that supports the business-use percentage. Meals and entertainment are often subject to a limitation, while specific situations may follow different rules. Receipts should be accompanied by the business purpose when it is not evident from the document itself.

The records must also reflect when income is earned and expenses are incurred. An unpaid invoice, customer deposit, equipment purchase or mixed personal-business cost is not necessarily treated as a simple bank deposit or withdrawal.

We classify transactions, reconcile accounts and identify amounts that need an explanation. This supports the T1 return and Form T2125, while also providing a clearer view of margins, cash flow and the amounts that should be reserved for tax obligations.