Professionals
Who We Serve
Professionals Have Unique Accounting and Tax Needs
Whether you are a doctor, lawyer, accountant, engineer, or consultant — as a professional, your income, expenses, and tax obligations are more complex than a salaried employee. Proper planning and accounting are essential.
Many professionals benefit from incorporating their practice — a professional corporation can provide significant tax advantages, income splitting opportunities, and greater financial flexibility. We can help you understand if incorporation is right for you.
Key Tax Facts
What Every Professional Should Know
01
Self-Employed Professionals May Need To Register for GST/HST/PREC
02
All Professional Income Must Be Reported
Income from all clients, contracts, and professional services must be fully reported on your personal or corporate tax return.
03
Professional Corporations Offer Tax Advantages
Incorporating your practice can reduce your personal tax rate — the small business corporate rate is significantly lower than personal rates.
04
CPP Contributions Are Required
Self-employed professionals pay both the employee and employer portions of CPP on net self-employment income.
05
Home Office May Be Deductible
Professionals who work from home can deduct a portion of home expenses — utilities, internet, and occupancy costs.
06
Professional Dues & Licensing Are Deductible
Maximize Your Savings
Deductions Professionals Can Claim
Professional Dues & Licensing Fees
Annual membership fees, licensing renewals, and professional association dues are fully deductible.
Home Office Expenses
A portion of home utilities, internet, and occupancy costs if you use a dedicated workspace at home.
Vehicle Expenses
Business use of your vehicle — fuel, insurance, maintenance, and CCA depreciation — is deductible.
Professional Development
Continuing education, courses, seminars, and conferences related to your profession are deductible.
Technology & Software
Laptop, phone, practice management software, and other technology tools used for your practice.
Marketing & Business Development
Website, advertising, and business development costs related to growing your professional practice.
Be Prepared
Key Documents You Need for Filing
Total Commission Income from All Transactions
All Business Expense Receipts
GST/HST Number & Filing Records
Corporate Documents (if incorporated)
How We Help
Services We Provide for Professionals
GST/HST Filings
We register and file your GST/HST returns — ensuring all professional services income is properly reported.
Self-Employed Tax Filing
We prepare your personal tax return — reporting all professional income and claiming every eligible deduction.
Bookkeeping
We organize all your income and expenses — keeping your financial records clean and CRA-ready year-round.
Corporate Taxes
We prepare and file your professional corporation's T2 return — maximizing the small business tax advantages.
CRA Audits / Reviews
Received a CRA notice? We represent you professionally and resolve issues efficiently on your behalf.