Self-employed tax services - Full service tax return for self-employed

Being self-employed is complex in many ways. The tax system is no exception! It is difficult to understand the different expenses that are allowed or not in regards to taxes. As a general rule, all expenses incurred by the self-employed to earn income are tax deductible.
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Other tax services 

Estate Tax - Taxation of Deceased Persons

A deceased person's tax obligations can be more complex than one might think. Not only do executors have to deal with all the legalities surrounding the death of their loved one, but they also have to deal with the fiscal requirements of a different tax return. Working with a tax professional can lighten your burden and make this step easier and faster. Barricad's tax professionals have the necessary experience to guide you through the estate tax process with respect.

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Corporate reorganization

A corporate structure that meets the needs of entrepreneurs is the first step to saving taxes and facilitating the transfer of funds.

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Relève d'entreprise

La relève d'entreprise, ça se prépare longtemps d'avance, avant même que le relevé pense à sa retraite! Chaque situation est différente et amène ses particularités émotionnelles et fiscales. Parce que nous avons l'habitude de ce type de dossier, chez Barricad, nous traitons ces aspects dans cet ordre.

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Estate Planning - Develop an Estate Plan with Barricad's Tax Professionals

Talking about what's going to happen when you die is never fun... But it's important to plan your estate properly so that your assets are distributed the way you want them to be. Planning today means preserving assets, protecting your wealth and ensuring a lasting legacy for your family in the future.

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Tax planning - Reduce your taxes with tax planning services

The tax universe is very complex. The objective of tax planning is to organize a taxpayer's affairs so that he or she pays the least amount of federal and provincial taxes possible while respecting the laws. The main advantage is to make the most of all the deductions, exemptions, credits, abatements and others that are contained in the law.

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Retirement planning - Maximize your retirement income with retirement planning services

Retirement, as well as early retirement, is obviously planned several years in advance. Business owners often have more choices, but also more responsibility when it comes to planning for retirement. Although many entrepreneurs believe they will never retire (!), they should think about it several years in advance in order to choose the right tools. Financial planning is necessary at all times, especially to save enough money for a comfortable retirement.

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Incorporating a business - Incorporate a business in Quebec

Entrepreneurs have a thousand questions when it comes to starting a business in Canada and Quebec as well as Canadian corporations. Take an hour of your time and come meet with one of our tax specialists. He or she will be able to answer all your questions and, better yet, ask you the important questions that will allow your project to start the right way!

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Self-employed tax services - Full service tax return for self-employed

Being self-employed is complex in many ways. The tax system is no exception! It is difficult to understand the different expenses that are allowed or not in regards to taxes. As a general rule, all expenses incurred by the self-employed to earn income are tax deductible.

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Business Succession

Business succession is prepared well in advance, even before the employee thinks about retirement! Each situation is different and brings its own emotional and fiscal particularities. Because we are used to this type of situation, at Barricad, we treat these aspects in this order.

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Real Estate Tax - Work with a Real Estate Tax Specialist

The taxation related to real estate investors is particular. The complexity varies from one case to another, but even for a case qualified as "not very complex", tax decisions can have a major impact on the individual's taxation in the short, medium or long term.

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Tax report - Trust tax experts for your tax preparation services

At Barricad, we take the preparation of tax returns very seriously. Each year, our tax specialists save our clients thousands of dollars thanks to their expertise and knowledge in this area.

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Merger and liquidation

Is your organization experiencing significant losses or is it going out of business? Is it better to merge with another organization or to simply dissolve it? It is clear that it is not easy to make such a decision. This is why Barricad Fiscalists are here to advise you in this process.

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International Taxation

Behind your foreign projects lie several tax challenges that require careful planning. Whether it is for a company or an individual, doing business outside of Canada requires judicious financial and tax planning.

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Agricultural taxation

Whether you are raising livestock, maintaining racehorses, cultivating soil, exhibiting farm animals, raising poultry or furbearing animals, producing milk, growing apples or bees, for the purposes of the tax laws, you are referred to as a farming business. Many complex rules apply to farming businesses. This is why it is important to help you to see clearly and to avoid unpleasant surprises.

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Business valuation services - Evaluate your business with Barricad

Knowing the value of your business is more than just a number on a balance sheet: it is fundamental in order to avoid surprises and to plan for the future. Whether it is for litigation, tax purposes, or when an offer to purchase is made, knowing the market value of one's business is crucial, regardless of the type of business: private company, public company, or family business.

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Income tax return

The complexity of a tax return can be frightening to many people, despite their good intentions. If you are an individual, a self-employed worker, a property manager or any other person who needs to file a tax return, one of our advisors will be happy to help you.

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Declaration of Trust

Grieving the death of a loved one is often an emotional ordeal. For most people, the steps to take following a death are often complex. In fact, a death has many specific implications that must be taken into account when determining the taxes payable by the deceased. At Barricad, we are here to guide you.

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Buying and selling a business - buying a business - selling a business

Proceeding with the purchase and sale of a business requires preparation. From negotiation to execution, there are many steps to go through. The confidentiality agreement, the letter of intent, the due diligence, the purchase or sale agreement, the setting up of payment guarantees and the payment according to the planned schedule are the six steps of the purchase or sale of a business. It is important to be well prepared and to know how to position yourself in all the different steps of the process.

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Barricad tax specialists - A team of tax professionals

Join Barricad

Our team is dynamic and diversified. Our work methods are above current standards and are reflected in the quality of our work.

https://www.barricad.ca/
Caroline Giroux
Grants & Funding Analyst
https://www.barricad.ca/en/home
Mélissa Lortie
Financial Planner
https://www.barricad.ca/
Tristan Bertrand
Tax Consultant and Financial Planner
https://www.barricad.ca/
Marie-Ève Paquet
Administrative Assistant
https://www.barricad.ca/
Lucie Baillargeon
Tax Technician
https://www.linkedin.com/in/fleurentdominique18/
Dominique Fleurent
CPA Auditor, Tax Specialist
https://www.linkedin.com/in/yvan-fournier-m-fisc-369162106/
Yvan Fournier
Tax specialist
https://www.linkedin.com/in/vincentmilhomme/
Vincent Milhomme
Communication, marketing and business development consultant
https://www.linkedin.com/company/barricad-fiscalistes-inc./
Valérie Charron
Taxation Technician
https://www.linkedin.com/company/11074814
Sophie Casgrain
Tax specialist
https://ca.linkedin.com/in/sébastien-guillot-685624b1
Sébastien Guillot
Tax specialist
https://www.linkedin.com/in/pierre-olivier-priv%C3%A9-23b268140/
Pierre-Olivier Privé
Tax specialist
https://www.linkedin.com/in/michèle-audet-cpa-68230312b/
Michèle Audet
Accountant and tax advisor
https://www.linkedin.com/in/louis-morin-b37773144/
Louis Morin
External consultant
https://www.linkedin.com/in/justin-roy/
Justin Roy
Tax lawyer
https://www.linkedin.com/in/jrsenechal/
Jean-René Sénéchal
Tax specialist
https://www.linkedin.com/in/iris-lemay-cpa-auditrice-cga-07b74730/
Iris Lemay
Tax specialist
http://linkedin.com/in/francis-gilbert-92a51789
Francis Gilbert
Tax lawyer
https://www.linkedin.com/in/dave-poirier-7698909b/
Dave Poirier
Tax advisor
https://www.linkedin.com/company/11074814
Belynda Francoeur
Tax specialist
https://www.linkedin.com/in/annick-grenon-225a07115/
Annick Grenon
Accountant technician
https://www.linkedin.com/in/alex-blouin-m-fisc-b653ba48/
Alex Blouin
Tax specialist

What expenses can be tax deductible for self-employed people?

Advertising

As a self-employed person, you can deduct the amounts you spend on advertising and promoting your business, including the cost of newspaper ads, business cards, and promotional gifts for potential clients.

Meals and entertainment expenses

The self-employed tax return allows you to declare the amounts you paid for business meals (up to 50%) but also for entertainment expenses (entertainment expenses include for example tickets to a show or a sporting event, awards and the cost of premises for the purpose of providing entertainment). 

Bad debts

You can usually deduct an amount for a bad debt if these two conditions are met:

  1. You have established that the debt became uncollectible during the year;
  2. You have already included the amount in your income.

Insurance

You can deduct regular commercial insurance premiums on machinery and equipment you use in your business or self-employment activity.

In order to deduct insurance expenses for your motor vehicle (car, motorcycle, etc.), you must deduct them as motor vehicle expenses.

In addition, you can also deduct regular insurance premiums for the use of your home as a business-use-of-home expense.

Interest and bank charges

You can also deduct interest on money you had to borrow to operate a business or to buy property for business purposes. This can apply to the following interest and bank charges 

Professional fees

You can also deduct professional fees paid to outside firms for advice, services, and consultation.

You can also deduct accounting and legal fees you paid for advice and assistance with bookkeeping. You can also deduct the costs of completing and filing your income tax and GST/HST returns.

Office expenses

You can deduct office expenses. These expenses include small items such as

However, the office fee does not include certain items such as:

These are considered capital assets for your self-employment tax return.

Management and administrative expenses

On your self-employment tax return, you can deduct management and administration expenses, including bank charges, that you paid to operate your business. Bank charges also include fees for processing payments.

These amounts should be reported separately to qualify as deductible expenses.

Rent

You can deduct rent paid for goods and items you use in your business on your self-employment tax return. This includes rent for the land and the building where you carry on your business.

You must deduct the rent paid for the business use of your home as an expense for the use of the home for business purposes.

Repairs and maintenance

When you file your income tax return as a self-employed person, you can deduct the cost of labour and materials for minor maintenance and repairs to the property you use to earn income from your business.

However, you cannot deduct :

Property taxes

You can deduct property taxes you spent on property you use in your business, such as property taxes on the land and building where your sole proprietorship is located.

You must deduct property taxes for the business use of your home as a business-use-of-home expense.

Travel expenses

Like travel and meal expenses, travel expenses are deductible on your self-employment tax return. 

School taxes

When filing your self-employment tax return, you can deduct school taxes in the same way you can deduct property taxes, electricity or your rent.

Travel expenses

You can also deduct travel expenses you incur to earn business or professional income. These expenses include:

The cost of meals, beverages and entertainment incurred while travelling is generally subject to the 50% rule to qualify as a deductible expense.

The 50% rule also applies to meals, beverages and entertainment on planes, trains and buses when not included in the ticket price.

Electricity

Just like rent or property taxes, you can deduct your electricity expenses on your self-employment tax return as long as they relate to the space you use to generate income.

Saving for retirement with a PRPP

The PRPP or Group Registered Pension Plan is a retirement savings plan offered to employees, but also to self-employed workers.

Contributions are tax deductible to a certain extent.