Tax & Accounting Services for Small Businesses & Self-employed Contractors in Calgary & Vancouver
Providing accounting services for small businesses and self-employed contractors in Calgary, Vancouver and the surrounding areas is a significant part of our practice. And while working for yourself offers a myriad of benefits, we understand that managing the accounting and tax for your business can be challenging and complex. Our extensive knowledge and experience of working with both small and large entrepreneurs and seasoned business owners enables us to provide you with practical business, financial, and tax advice to help you maximize the profitability and efficiency of your small business or contractor services.
Small Business Accountants Calgary & Vancouver Entrepreneurs Rely On
Small businesses in Calgary and Vancouver have special accounting needs. Monthly P&L statements are necessary to keep track of the financial health of the business and are required by lenders if you need to borrow money. Payroll needs to be met and deductions for taxes and healthcare need to be put in escrow and paid when due. In addition, profits need to be invested wisely so that there is money available during the slow seasons.
Most small business owners wear a lot of different hats. Hiring a small business accounting firm in Calgary or Vancouver can help you concentrate on your customers and your employees rather than numbers.
Self-Employed Contractors Accountants Calgary & Vancouver Clients Trust
Financial records for self-employed contractors can become cumbersome and at times confusing. Several factors contribute to the confusion, such as:
- Self-employed contractors generally work for more than one customer. This means instead of earning all of their income from one individual or company, they get payments from multiple sources.
- Income taxes are generally not deducted from payments made to self-employed contractors. This means that it in the best interest of the contractor to set aside income from each payment to satisfy tax obligations when they come due.
- Unlike for a typical employee, expenses for the self-employed offer a tax credit opportunity. Self-employed contractors have the option to take deductions for many business expenses, such as transportation, office space and office supplies.
An experienced Vancouver or Calgary accounting firm that specializes in services for self-employed contractors can help create and maintain the necessary paperwork to keep track of monthly income and expenses so that at the close of the year your files are in order for tax preparation and submission. By utilizing the services of our accounting team, you can optimize your earnings and create a profitable portfolio for your future plans including expansion or retirement.
How Can MMT Chartered Professional Accountants Help You?
Our accounting and tax services for privately owned businesses and self-employed contractors include:
- Advisory on Corporate Structure (Including Incorporation & Setup of New Business)
- Tax strategies to ensure minimization of tax & maximization of deferrals
- Income Splitting Advisory
- Lease vs Purchase Analysis
- Consultation on Compensation / Payroll Arrangements
- Cash Flow Analysis and Advisory
- Performance Measurement / Improvement
- Business Model Generation
- Financial Projections and Forecasts
- Assistance in Obtaining Bank Financing
- Estate, Retirement and Succession Planning
- Business Opportunities Evaluation and Recommendation
- Advisory Services on Opening, Purchasing or Selling a Business
We are currently offering special rates for the preparation of personal tax returns for students, residents, and newly practicing self-employed contractors and small businesses.
Contact our Calgary or Vancouver office today for advice on your corporate structure, tax minimization / deferral strategies, consultation on compensation arrangements, cash flow analysis and advisory, retirement and succession plan advice, and much more.