Reconcile the business before using its totals
We compare invoices, bank activity and relevant platform statements, separating owner contributions and transfers from business revenue. Expenses retain receipts and explanations of business purpose. Vehicle, workspace and other mixed-use claims need supporting information rather than a standard percentage.
Equipment purchases, loan payments and ordinary operating costs are identified separately. A bank payment does not by itself establish an immediate deduction. Unpaid invoices and supplier balances also need review under the applicable reporting method.
An illustrative consultant record review
A hypothetical Ottawa consultant has $74,000 of business revenue and $16,000 of initially recorded costs. The cost list includes $4,500 of loan principal. That payment is separated for review rather than left in ordinary operating expenses. This example does not calculate final taxable income, which requires the remaining classifications and applicable adjustments.
Keep filing, payment and HST distinct
For ordinary self-employed situations, the 2025 personal filing deadline was June 15, 2026, while the balance remained due April 30. The filing extension can also apply where a spouse or common-law partner carried on business, subject to CRA conditions.
GST/HST registration and returns are separate from personal income tax. We identify which returns, periods and bookkeeping work the engagement covers, then provide a review package and a list of any further information or specialist assessment needed before submission.
Questions about this work
Is this the right service for an incorporated business?
A corporation generally has a separate T2 return. Its owner may also need a personal return. We identify the legal entity before deciding the preparation scope.
Can bank statements replace every receipt?
Bank activity helps reconcile payments, but it often does not show the item, business purpose or tax details. Supporting documents remain important.
Put this into practice
Sources and current guidance
A practical next step
Bring the records you have.
We can identify missing documents, agree on the scope and organize the next tax preparation step.
Request a tax review