Accountant for Truck Drivers and Trucking Companies
As accountants for truck drivers, we know how much you have to keep track of in a trucking business, from truck maintenance and fuel costs to financial paperwork and income taxes. Farrukh Ahmed, CPA, helps truck drivers, owner-operators and trucking companies in Mississauga, Brampton, Toronto and across the Greater Toronto Area stay on top of all of it. We handle tax preparation, bookkeeping and tax filing for drivers, so your time stays on the road. Most of the work can be done remotely, so we can work with truckers anywhere in Ontario. Our tax preparation service covers company drivers, owner-operators and small trucking companies, and we plan each file around CRA deadlines to help you avoid late-filing penalties.
Did you know?
Farrukh Ahmed has been a professional accountant for more than 30 years and has been a member of CPA Ontario since 2013. Because the practice is small, he has the time to care for his clients and to keep an open line of communication. Beyond filing your taxes, he can help you build a plan for the future of your trucking business.
30+ Years, Office in Mississauga
The firm has filed returns for GTA clients for more than 30 years. Most drivers never need to come in: documents go back and forth online between runs, and the Mississauga office is there when you want to sit down in person.
Taught Cloud Accounting at Sheridan
Farrukh’s course at Sheridan College taught accountants to work in cloud software. Drivers get the benefit directly: a photo of a fuel or repair receipt taken at the truck stop can be in your books the same day.
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Chartered Professional Accountant.
Why hire a tax accountant for your trucking business?
Having a tax accountant in your corner means someone holds you to your tax deadlines and pushes you to plan ahead, with tools like RRSP contributions. We track your filing dates so your returns go in on time. We help truck drivers stay current with the CRA, and we put a tax and business plan in place to help you get ahead.
Company driver, owner-operator or trucking company?
Truck drivers come to us in different situations: company drivers paid on a T4, self-employed owner-operators and incorporated trucking companies. Each one needs a different kind of tax preparation, and our team of accountants handles all three.
Serving truck drivers across Ontario
Our office is in Mississauga, and we serve truck drivers in Brampton, Etobicoke, Toronto, North York, Scarborough, Hamilton, Guelph, Oshawa and across Ontario and the GTA.
Loads into the United States
Many Ontario truckers also run cross-border loads into the United States. We prepare your tax return with your cross-border trips and costs in mind.
GST/HST for owner-operators
Owner-operators also deal with GST/HST. We register you when needed, file your GST/HST returns and keep your input tax credit claims on fuel, repairs and tires supported by receipts.
Payroll and bookkeeping for trucking companies
If your trucking company has drivers or office staff on payroll, we run payroll, remit source deductions to the CRA and issue T4 slips at year end. We also keep the bookkeeping current, so fuel costs, repair costs, insurance costs and truck payments are recorded every month. Up-to-date books are what you rely on first if the CRA audits you.
Our trucking accounting and tax services for truck drivers include:
- Accounts payable
- Bill payments
- Tax preparation for truck drivers
- Financial statements
- Payroll services for trucking companies
- Business tax return and corporate tax filing
- Business tax planning
- Personal income tax returns (T1)
- Tax minimization strategy
- Filing for tax refunds
- Incorporating your trucking business
- Tax Audit Defense and representation with the CRA
- GST/HST filings, monthly, quarterly or annual
- Business advisory services
- Operating expense analysis
- Bookkeeping for your trucking company
- Salary vs. dividend planning
Farrukh has been my business accountant for many years now. He helped me incorporate, taught me Quickbooks, and he files my corporate year end taxes, as well as quarterly HST filings. He also provides overall financial advice and does my personal taxes. He is very quick to answer any questions or concerns, and very professional.
What We Review With Truckers
Schedule a complimentary consultation and we’ll go through these points with you for your trucking taxes:
1. Meals. Expenses on the road and the receipts that support them.
2. Cell phone. How much of your phone use is for business.
3. Incorporation. Whether a corporation fits your trucking business.
4. Records. Your logbook of trips, days on the road, fuel and kilometres.
5. Instalments. Whether you need to pay income tax by instalments, and when.
6. Professional fees. Legal and accounting fees for your trucking business.