
The Savvy Freelancer’s Guide to Canadian Taxes: Tips and Tricks for Gig Workers
As a freelancer or gig worker in Canada, understanding your tax obligations is critical to maintaining a successful and compliant business.
At Strata-G, we understand the importance of seamless integration and offer a solution with Synder, our trusted integration app. Synder seamlessly synchronizes your favorite online sales channels, allowing you to reconcile and accurately organize your financial data in a snap. With Synder, you have the ability to choose the level of detail for your data synchronization, with both daily summary and per-transaction modes available for over 25 integrations at no additional cost.
Synder provides instant analytics and reporting, automatically generated P&L, balance sheets, cash flow reports, best sellers across all channels, and other reports tailored to your business needs. Our automation rules with best-in-class reconciliation process and categorization help you get rid of mundane accounting tasks and keep your books 100% prepared for reporting, ensuring accurate accounting and reconciliation.
But that’s not all. Synder also offers swift invoicing designed specifically for online companies. With one-time and recurring invoices, auto-due date reminders, and everything you need to increase your conversion rates, our invoicing system makes it easy to manage your finances and get paid on time.
At Strata-G, we believe that a good accounting strategy is critical to business success. As your business innovates and develops new methods, ideas, and products, you need accurate and timely financial information to make informed decisions, improve cash flow, and drive growth. That’s where we come in. We offer a fast, accurate, and efficient virtual accounting service that will help your growing business reach the next level.
Book your free consultation session today and take the first step towards smoother integration and business success.
A trustworthy source of Time-Saving, Cash-Generating cloud-based Accounting and Tax solutions for your dynamic business. It means peace of mind knowing that the back office function is highly functioning, putting your efforts squarely on running your business.
With over 18 years of experience spread across Government Audit, Industry Financial & Tax reporting, and Big 4 Accounting Firms, Strata-G knows the value of standardized and stream-lined processes capable of producing real-time forward-looking metrics to better assist your strategic decision making.
As virtual accountants in Canada, we service clients from Toronto, Kitchener, London, Woodstock and Vancouver. Next level accounting won't be possible without the latest technologies.
We employ Xero as our firm’s cloud-based Accounting platform; however, we are also Advanced Online ProAdvisors for QuickBooks, and enjoy working with both. Here is a list of the other technology systems we employ
Bookkeeping
Integration
Payroll
Tax Preparation
Time Management
Advisory
Communication
Security
And we are always willing to learn!
Of Course! We don’t just toss you the keys and request that you “ask us about the Cloud”. If you are not informed, what is there to ask?
We analyze your business needs, offer technology solutions that will streamline your processes, and provide training in three ongoing formats:
We would love to! For best results we recommend an initial discussion to assess your company, your goals and pain points, to develop a clear plan forward. The Cloud opens channels to many time saving processes and Apps for every industry, and we want to ensure we are plugging you into the best fit for your business and market. In some cases, your Advisor may be able to offer a discount by purchasing the technology directly.
Many clients face the same core challenges to varying degrees: Data entry may be poor or overly manual; concern over security of data; processes do not communicate with one another, and too much time is wasted. Therefore, we would map out the following framework to get started and then tailor it specifically to your needs:
Data Entry: A Cloud based accounting platform, we operate on Xero and value QuickBooks, with additional automated receipt capture and publishing through Hubdoc, or Receipt Bank. Who doesn’t like the idea of taking a photo of a lunch receipt and knowing it is stored and booked by the time you get back to the office?
Payroll: We utilize Wagepoint for our practice and love the automation, and compliance features. For those that require time entry or project specific costing, Workflow Max for Xero, and Tsheets for QuickBooks and Xero have automated that process as well. Both options communicate well with payroll Apps such as Wagepoint, which in turn populates your Accounting system.
Integration is key, you want your Apps to be automated and be able to communicate seamlessly from raw data entry, through to a real-time financial statement.
We strongly encourage you to speak to an Advisor
As a freelancer or gig worker in Canada, understanding your tax obligations is critical to maintaining a successful and compliant business.
As a small business owner in Canada, you may feel overwhelmed by the thought of preparing and filing your business tax return. With some knowledge and preparation, you can avoid some of the most common mistakes that small business owners make when filing their tax returns.
In this article, we’ll guide you through the process of identifying and claiming the deductions and credits that your small business may be eligible for. Whether you’re a seasoned business owner or just starting out, our overview of standard business tax deductions and credits, along with tips for maximizing them, will help you easily navigate the complex world of small business taxes.