No accountant-speak. No fluff. Just practical information for Ontario trades businesses and contractors.
We're working on a set of articles specifically for Ontario trades businesses. The topics below are coming — sign up for updates or check back soon.
Get Notified When We PublishThese are the trades-specific questions we get most often — and the ones that actually move the needle for your business.
If you pay subcontractors, you're likely required to file T5018 slips with CRA. Most GCs don't realize this until they're audited. Here's what it is, who has to file, and how.
The HST quick method lets eligible businesses remit a flat percentage of sales instead of tracking every input tax credit. For some contractors, it means keeping hundreds more per year.
Calling someone a subcontractor when CRA considers them an employee is one of the most expensive mistakes a trades business can make. Here's how CRA decides — and how to protect yourself.
Your truck is one of your biggest assets. Here's how CCA classes work, what you can deduct (and when), and the most common mistakes tradespeople make on their vehicle write-offs.
Most trades businesses track revenue. Far fewer track what it actually cost to earn that revenue. Job costing is the difference between guessing and knowing — here's how to set it up simply.
The 10% statutory holdback rule affects every construction project in Ontario. Here's what it means for your cash flow, how to account for it properly, and when you can release it.
No blog article needed — these are free, actionable, and will make a difference today.
Mixing personal and business money is the #1 thing that makes bookkeeping expensive and messy. A separate account takes 30 minutes to set up and will save you hours every year.
CRA accepts digital copies. Use QuickBooks Mobile or even just a folder in your phone photos. The receipt you don't scan is the deduction you'll lose.
Most small businesses file quarterly. Missing a deadline costs you interest starting the day after it's due. Log into your CRA My Business Account and confirm your next due date right now.
Keep a running list of everyone you pay $500+ per year. You'll need it to file T5018 slips by the end of February. A simple spreadsheet works fine until you get proper software set up.
If you're incorporated or self-employed, nothing hurts more than a surprise tax bill with no cash to pay it. A separate "tax holding" account takes the stress out of filing season.
Book a free consultation — we're happy to talk through any bookkeeping questions you have, even before you become a client.