Frequently asked questions

Your T1 personal tax return prepared and e-filed through TaxCycle, including employment income (T4), RRSP deductions, medical expenses, charitable donations, tuition credits, and any other standard deductions and credits you're entitled to. You'll receive a 15-minute review call before we file.

It includes everything in the personal return plus Schedule T2125 for your business income. That means we calculate your business revenue, categorize your expenses, handle home office and vehicle deductions, reconcile GST if you're registered, and ensure your business deductions are properly claimed. This is where most people leave money on the table.

Self-employed individuals have until June 15 to file, but any balance owing is still due April 30. We recommend filing early — the sooner you file, the sooner you know where you stand with CRA. Late filing penalties start at 5% of any balance owing plus 1% per month after that.

5–7 business days from when we receive your complete documents. We'll schedule the review call, walk you through the numbers, and e-file the same day if you approve. CRA typically processes e-filed returns within 2 weeks.

Absolutely. If you have unfiled personal returns — T4 employment income, pensions, investments — we prepare each year at the standard rate. No reconstruction needed, just the filing work. If you're self-employed and your books are behind too, that's a bigger job — see "I'm behind on my books" in our bookkeeping section. Either way, we'll scope it on a call before quoting anything.

Late filing penalties are 5% of any balance owing plus 1% per month (up to 12 months). If you've been late before, it doubles. Interest also accrues daily. The good news: CRA is generally cooperative when you come to them voluntarily. Filing late is always better than not filing at all.

CRA's VDP allows you to correct past tax issues (unfiled returns, unreported income) with reduced or eliminated penalties and potential partial interest relief. It only works if CRA hasn't already contacted you about the issue. For significant penalties across multiple years, it can save thousands. We can assess whether VDP makes sense for your situation.

You must register once your taxable sales exceed $30,000 over any four consecutive calendar quarters. Even if you're under the threshold, voluntary registration can make sense if you have significant business expenses — you'd be able to claim back the GST you're paying through Input Tax Credits.

Completely different. BC doesn't use HST — it has a dual tax system. GST (5%) is federal, filed with CRA. PST (7%) is provincial, filed separately with the BC Ministry of Finance through eTaxBC. Different agencies, different portals, different deadlines, different rules. This is one of the reasons BC bookkeeping costs a bit more than provinces with a single harmonized tax.

No. Unlike GST, where you can claim Input Tax Credits, PST paid on business purchases is a permanent cost. It's deductible as a business expense on your income tax return, but you cannot recover it through the PST system. This catches a lot of business owners by surprise.

Usually yes. Both are calculated independently on the pre-tax price — never on top of each other. A $100 item becomes $100 + $5 GST + $7 PST = $112. However, some items are exempt from one or both taxes, so proper categorization is important.

When your BC-sourced taxable sales exceed $10,000 in any 12-month period. The threshold is lower than GST and the registration is separate — done through eTaxBC, not CRA. If you sell taxable goods or services consumed in BC, this applies regardless of where your business is located.

Transaction categorization, bank and credit card reconciliation, a monthly profit and loss statement, GST tracking and filing, BC PST filing if applicable, and Dext receipt management. You'll have real-time access to your books in QuickBooks Online. The exact scope is documented in your engagement letter so there are never surprises.

When you want to be certain your filings are correct and your deadlines are met. BC sole proprietors have GST, PST, and potentially payroll remittances running on overlapping schedules — a missed filing means penalties, and a miscategorized expense means you're either overpaying CRA or triggering a review. Monthly bookkeeping means someone qualified is watching the whole picture, not just entering transactions.

With a conversation. We'll figure out how far behind you are and what needs to happen. For most sole proprietors, we can reconstruct a full year from bank and credit card statements — categorize expenses, reconcile accounts, file any outstanding GST and PST, and get you current. Reconstruction starts at $1,175 per year depending on complexity, and multi-year work is quoted individually.

That's exactly what we recommend. Once your books are current, monthly service keeps them that way and prevents you from ever falling behind again. About a quarter of our catch-up clients move to ongoing bookkeeping — and they're usually the ones who benefit most.

We process payroll through Knit, which handles the full cycle: gross pay calculations, CPP, EI, and income tax deductions, direct deposit to your employees, and automated remittances to CRA on the correct schedule. You approve each pay run before it goes out. At year-end, we prepare T4 slips and file them with CRA. If you have WorkSafeBC coverage, we handle the annual payroll report as well.

CRA penalties start at 3% for remittances that are 1–3 days late and escalate to 10% or more after seven days. That's why we use Knit — it automates remittances on the correct schedule so nothing depends on someone remembering a deadline. CRA holds the employer legally responsible regardless of who processes the payroll, but our job is to make sure it never comes to that.

QuickBooks Online for bookkeeping and financial reporting, Dext for receipt capture and data extraction, Knit for payroll processing, Plooto for accounts payable automation, and TaxCycle for tax preparation and e-filing. Everything is cloud-based and syncs automatically. You'll have login access to your own QBO account.

Through Dext — you photograph receipts with your phone and they're automatically extracted, categorized, and pushed to QuickBooks. No more shoeboxes. No more spreadsheets. It takes about 10 seconds per receipt and it's included in your monthly service.

Same day — usually within a few hours. Our engagement letter includes a 24-hour response SLA. If something is urgent, let us know and we'll prioritize it.

After signing the engagement letter and first payment, we set up your QuickBooks Online, Dext, and any other tools within the first week. CRA authorization is submitted in parallel. By day 10, your bank feeds are connected, accounts are reconciled, and you receive your first monthly financial statements. The full process is documented in a checklist we share with you.

Yes. Our engagement is month-to-month with 30 days' written notice from either side. On termination, you pay for work completed, and we return your records and revoke system access within 15 business days. We'll cooperate with your new bookkeeper during the transition.

You need to be a Canadian tax resident with BC-connected business activity. Everything we do is remote — there's no office to visit. Whether you're in Vancouver, Kelowna, or Prince George, the service is identical.

We don't provide audits, reviews, or compilation engagements. We don't offer tax planning advice, legal counsel, or investment guidance. We don't issue CPA-compiled financial statements for banks or lenders. When your needs go beyond bookkeeping — incorporation planning, complex tax strategy, audit defence — we refer you to a qualified CPA. Our engagement letter is clear about what's in scope and what isn't.