Connect the job records to the accounts
We retain the job reference, customer invoice, approved changes and supplier documents. Deposits and progress payments remain linked to the work instead of being classified only from the bank description. Outstanding balances and disputed amounts receive their own review.
Equipment additions, repairs, vehicles and financing also need detail. A large payment may include loan principal, interest and other charges, each with a different role in the records. Subcontractor reporting and worker status are reviewed using the actual arrangements.
An equipment-payment example
Suppose a hypothetical Ottawa trades business pays $13,500 from its account in connection with a vehicle. Documents identify $10,000 of loan principal, $1,900 of interest and $1,600 of repair work. The full amount is not treated as one vehicle expense; each component retains its evidence for the tax review.
Build a complete year-end picture
The package includes open invoices, supplier balances, equipment and loans, tax accounts and owner transactions. For a sole proprietor, these records support the business schedule within the personal return. An incorporated contractor has a separate corporate return and related responsibilities.
We identify missing records and the agreed filing scope before submission. Job profitability, income-tax timing and cash collection answer different questions; a profitable contract can remain unpaid at year end. Keeping those distinctions visible makes the tax package more useful and helps avoid rebuilding the same information later.
Questions about this work
Can job-costing records help with tax preparation?
Yes. They provide supporting detail when they reconcile to the business accounts. The tax treatment still requires review under the applicable rules.
Are all subcontractor payments reported the same way?
No. The payment type, worker relationship and reporting requirements must be assessed. We retain the agreements and recipient information needed for that review.
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