Hi guys,
I recently started off working as a contractor for a company. I am incorporated but have never ventured down this road -- always worked as an employee. I have a business account with a financial institution where my billed hours are being EFTed along with the GST amount on them. What I wanted to know were as few things:
Any guidance on what I can deduct as far as expenses go? Any CCRA documentation I can read on this?
How do I understand what I will be owed at the end of the corporation's fiscal year in terms of taxes?
I know I really should speak to a financial accountant, but if anyone can chime in on their personal experience and/or advice, I would really appreciate it.
Thanks,
Daze
I recently started off working as a contractor for a company. I am incorporated but have never ventured down this road -- always worked as an employee. I have a business account with a financial institution where my billed hours are being EFTed along with the GST amount on them. What I wanted to know were as few things:
Any guidance on what I can deduct as far as expenses go? Any CCRA documentation I can read on this?
How do I understand what I will be owed at the end of the corporation's fiscal year in terms of taxes?
I know I really should speak to a financial accountant, but if anyone can chime in on their personal experience and/or advice, I would really appreciate it.
Thanks,
Daze