Accountant for North Vancouver consultants
A lot of North Shore consultants live on one side of Burrard Inlet and bill clients on the other. Engineers, project managers, IT specialists and advisers work from home in Lynn Valley, Edgemont or Deep Cove and cross the bridges when a client wants them downtown.
EverStone is an accountant for consulting businesses and a North Vancouver small-business accountant, working remotely from Abbotsford.
Quick answer: A North Vancouver consultant decides whether to incorporate, checks whether a long engagement with one client looks like employment, registers for GST once revenue passes $30,000 in four consecutive calendar quarters, and sets a salary-and-dividend mix each year. EverStone handles those questions and the filings behind them remotely. A self-employed T1 with schedules is commonly $250–$450, and corporate work is quoted after a free consultation.
For an incorporated consultant the file covers the T2 with Schedule 50, the small business deduction, the owner’s T4 or T5, GST returns with input tax credits, and the personal T1. For an unincorporated one it is the T1 with a T2125 and the GST return.
Incorporating: when it pays and when it does not
The low corporate rate is a deferral, not a discount. Profit kept inside the company is taxed lightly now, and taxed again as a dividend when it comes out. If a North Shore household spends everything the consultancy earns, the money comes straight back out and the total tax is close to what a sole proprietor pays. Meanwhile the company adds its own costs: a T2 with statements, a BC annual report, a separate bank account and payroll or dividend paperwork.
The arithmetic turns once revenue runs well ahead of what the household needs, and the surplus can sit in the company for years. Some clients also insist on contracting with a corporation, which settles the question for you. Liability protection is often cited, but for professional advice it is usually thinner than people expect. Our should I incorporate page and the incorporation calculator put numbers on it.
When one downtown client is effectively your employer
The personal services business rules apply where, without your corporation, you would reasonably be regarded as an employee of the client. A consultant who works set hours at one client’s downtown tower, uses their laptop and email address, and reports to one of their managers on a renewable contract can drift into that territory. Working from home on the North Shore most days does not settle it either way.
If the rules apply, the corporation loses the small business deduction on that income and can deduct very little against it. The fix is mostly in how the work is actually done: more than one client, your own equipment, a defined deliverable, and the freedom to send someone else. Our PSB risk assessment walks through the tests.
GST registration, and clients outside Canada
Once taxable revenue passes $30,000 in four consecutive calendar quarters, GST registration is mandatory, and most full-time consultants cross that in their first year. Registration also lets you recover the GST on your laptop, software and professional fees as input tax credits. Most consulting services are not subject to BC PST, though some related services are, so check if your work includes software or similar.
North Shore consultants who advise clients outside Canada should look at place of supply. Some services to non-residents are zero-rated, which means no GST is charged but input tax credits are still claimed. Smaller consultancies can also compare the Quick Method with regular GST accounting.
Working from home under the mountains
Most North Shore consultants run the business from a room at home. For an unincorporated consultant, a share of rent or mortgage interest, utilities, insurance and property tax goes on the T2125 based on the space used. For an incorporated one, the company usually reimburses the owner or pays rent under a simple agreement, and the rules are different. Home office expenses for an incorporated business covers the corporate side.
Travel is the other North Shore question. Driving across the Lions Gate to a client site you attend regularly can look like commuting, which is personal. Trips to several client sites, or to a site you attend occasionally, are business travel. A simple log settles it; see vehicle and mileage deductions.
Paying yourself, and the family
An incorporated consultant chooses each year between salary, dividends or a mix. Salary creates RRSP room and CPP, and runs through payroll with a T4. Dividends are simpler to pay and are reported on a T5. Paying a spouse or adult children is possible, but the tax on split income rules limit dividends to family members who are not actively involved. A salary for real work at a reasonable rate is different. See tax on split income and payroll in North Vancouver.
What EverStone handles for you
One CPA, one fixed fee agreed up front:
- Incorporation decision modelled on your real income
- PSB exposure reviewed against your contracts and how you work
- GST registration, invoicing set-up and returns
- T2 and year-end financial statements
- Salary and dividend mix recalculated each year
- Your personal T1 coordinated with the corporation
Fixed fees, fully online
A self-employed T1 with schedules commonly runs $250 to $450. Monthly bookkeeping, if you want it, starts from $300 a month with GST filing included. Corporate work is quoted after we review your enquiry, and a 45-minute Advice Call is a flat $200 + GST if you want one question answered before signing a contract. See what it costs.
Prepared and reviewed by a Chartered Professional Accountant at EverStone CPA, an Abbotsford CPA firm working remotely with small businesses and incorporated owners across British Columbia. Updated . About the firm · Send an enquiry
What a consultant has to get right
| Item | Why it matters |
|---|---|
| Incorporation | Saves tax only on income left inside the company |
| PSB risk | One client, set hours and their equipment can make the income look like employment |
| GST registration | Mandatory once taxable revenue passes $30,000 in four consecutive calendar quarters |
| Owner pay | Salary creates RRSP room and CPP; dividends are reported on a T5 |
| Sales tax where you operate | 5% GST plus 7% BC PST: two registrations, two returns |
Source: Accounting for incorporated professionals. General information, not advice.
North Vancouver accounting for independent consultants FAQ
Should I incorporate my consulting business?+
Does working mostly from home protect me from the PSB rules?+
When do I have to register for GST?+
Is driving to a downtown client a business expense?+
Can I pay my spouse from the corporation?+
Do you work with consultants outside North Vancouver itself?+
Related services and local guides
Nearby cities, the rest of what we do for North Vancouver businesses, and the reference pages behind this one.
Consulting through a corporation on the North Shore?
One CPA for your corporate tax, books and planning. Fixed fee, fully online. Send an enquiry.
Remote accounting for consultants from Abbotsford
EverStone is a fully virtual, one-CPA firm based in Abbotsford, serving North Vancouver consultants entirely online. There is no North Vancouver location and no local staff. Questions go by email, meetings are held by video, and documents move through e-signature and a secure upload link, so no visit is required at any point. Contracts, invoices and the PSB question are reviewed together, because they affect each other.
Talk to a CPA about this
One Chartered Professional Accountant, start to finish. Fixed fees, quoted in writing before any work begins, and no obligation from a first conversation.
