Accountant for Independent Contractors in Mississauga
When you work for yourself, you need an accountant for independent contractors who knows how the CRA treats self-employed income. Farrukh Ahmed is a Chartered Professional Accountant who has helped contractors and small businesses for more than 30 years. We provide the accounting and tax services, so you can keep your evenings for paid work instead of receipts. We know which expenses are tax-deductible and which are not, and we’ll work out a plan with you that uses the deductions the rules allow.
Records Ready for a CRA Review
As an independent contractor, you are responsible for filing your own taxes and for proving every expense you claim. Farrukh previously worked with the CRA on tax matters for individuals and corporations. We keep your records organized throughout the year, so you have answers ready if the Canada Revenue Agency asks. If a review is opened, our CRA Assessment Support service handles the correspondence and represents you.
Sheridan College Accounting Instructor
Farrukh taught a cloud accounting course at Sheridan College. With you, we use those same programs to log each invoice and receipt as it comes in, which makes your annual return and your instalments easier to handle.
Serving the GTA for 30+ Years
For more than 30 years, Farrukh’s Mississauga office has worked with people across Peel and the rest of the GTA, including contractors who bill their clients directly. You will be working with someone who knows how these files change from one year to the next.
Get The Help Of A
Chartered Professional Accountant.
Tax and Accounting Services for Independent Contractors
Bookkeeping, HST, instalments and your T1 return are handled by the same small team.
What changes when you work for yourself?
Being an independent contractor gives you the freedom you probably wanted, along with the responsibility of running your own business. From a tax perspective, the CRA treats an independent contractor as self-employed, which changes how your income tax works. We can help you with bookkeeping, tax planning and preparation, filing and on-demand tax advice.
CPP, instalments and filing deadlines
As a self-employed person, you pay CPP contributions on your net earnings and, in many cases, income tax by instalments during the year. We calculate what applies to you, remind you before each due date and file your return on time.
When do you need to register for GST/HST?
We check when you need to register for GST/HST, register you, file your returns and claim the input tax credits on your business costs.
Working mostly for one client
Some independent contractors work for a single client and look a lot like employees. The CRA can look at that relationship, and the tax impact can be significant, especially for an incorporated contractor. We review your contracts and how you work with each client, and set things up correctly from the start.
My companies and I have been a client of Ahmed Farrukh, since the first year the business started back in the 90’s. Ahmed and his team have taken care of my personal, family and business accounting all this time and I have been more than pleased with the value and the service. Even when we moved our business from Mississauga to Niagara we kept Ahmed and his company as our accountant. From everyday accounting to the sale of a business to personal tax planning I highly recommend both Ahmed and his firm. They have served us well and i have no doubt they will continue to until my retirement. Thanks for the years of great service. David.
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.
He gives you the time of the day and doesn’t treat you like another invoice. Farrukh is also well informed – be it latest industry regulations or best practices. This ensures compliance for his clientele.
Farrukh and his team have our vote and we confidently recommend their services to those in the market for business or personal needs.
Tax services we provide
Accounting Services for Independent Contractors
Our accounting services cover what most independent contractors need. Each case is unique, though, so we’d rather start with a discovery call and see if we’re the right fit for each other.
- Incorporating your business, if it makes sense for you.
- Registration and filing for GST/HST.
- Cloud accounting software setup, linked to your business bank account, to track invoices, expenses and day-to-day operations.
- Business expense tracking, including home office and vehicle expenses.
- CPP and income tax instalment planning, with reminders before each due date.
- CRA Assessment Support for all clients in case of a CRA review.
- Payroll services.
- Annual tax returns and other tax documents filed on time.
- Tax planning advice, to lower your total tax owing within the tax rules.
- An open line for clients to call in with any questions about their tax affairs.