As a Canadian self employed individual you may not be viewing yourself as a true business entity. If this is the case then you may not be thinking that you could really benefit from the services of a Toronto Business Accountant. This is an error on your part if this is what you have been thinking.

As a self-employed individual you may have been filing your tax returns yourself in the past, or this may be your first year at attempting it. If this is the case then you are probably turning to all the information on the internet concerning this. You will soon discover that the Canadian tax laws for any type of filing for tax returns, is not as easy as it sounds. Just by merely misinterpreting some of the information that you come across could be costly for you. This is why it is always advisable to rely on the experts such a Toronto Tax Accountant.

Something else you may not realize is that each year there are small changes and sometimes big ones that take place. You may neglect to bring yourself up to date with these and as a result miss out on a tax break or make the necessary plans to change something applicable to this in your self employment approach.

You may have been going along quite nicely with filing your tax returns over the last several years as a self-employed individual. You have never been hassled by the CRA so you figure you are doing just fine. The question is though are you getting all the tax breaks that may be available to you? All too often individual tax payers concentrate so much on making sure that they are complying with all the tax rules they don’t spend enough time looking at the potential tax breaks.

Perhaps you are in a situation where you are wondering if you should turn your self-employment status into a company ownership. This is an area that your Toronto tax accountant can advise you on in regards to what it would do for you from a tax point of view.

One of the most important responsibilities of tax returns and self employment status is that you keep good records. If you don’t have a business degree or are familiar with bookkeeping practices this may be an area that could give you potential problems. Your tax accountant has to rely on these records to assist you with your self employed tax returns. If you have not been astute at doing this it doesn’t mean that you should avoid using the services of these tax experts. They will guide you as to what you need to do to get yourself on track with your accounting records.

As a Toronto Accountant I take great pride in the tax assistance I have been able to provide to my self-employed clients over the years. I have had the pleasure of seeing some of them move their self-employment status to a small successful business entity. Why not take advantage of my FREE consultation and let’s see where I can make a difference in your tax situation.