Contractor accountant in Langley

For accounting beyond the trades, see our accounting firm in Langley page.

For a one-owner Langley contractor, monthly bookkeeping, payroll and the year-end T2 with statements usually cost from $500 to $700 a month all-in.

Accounting built around Langley trades

Langley mixes dense City construction with Township acreage builds, and its contractors range from homebuilders and excavators to landscapers and rural equipment trades. Their machinery and vehicles are capital assets, and how they are classified and depreciated directly affects tax.

Equipment and capital cost allowance

Trucks, trailers, excavators and tools are written off through capital cost allowance (CCA) by class, with the half-year rule and any incentives applied in the purchase year. The right class and purchase timing decide whether Langley contractors recover cost efficiently. See our guide to equipment CCA classes.

T5018s, GST and lumpy income

Contractors paying subcontractors generally file T5018 returns and must reconcile GST through draws and purchases. Uneven income makes instalments tricky, so we plan them around cash flow. The subcontractor-versus-employee question decides CPP and EI exposure.

Year-round support, not just at filing

Most Langley contractors hear from a seasonal preparer once a year, at deadline. We work the opposite way. Your fixed fee covers the whole year, so you can call before buying a $90,000 excavator, hiring your first employee or setting your own pay, while advice can still change the outcome. Your books stay current, GST stays filed, and year-end is a quick confirmation instead of rebuilding twelve months of receipts.

Sole proprietor or incorporated? A Langley builder’s question

Many Langley trades start as sole proprietors, and the right time to incorporate depends on your numbers. Incorporating can bring tax deferral, liability separation and a cleaner structure for equipment and staff, but adds a corporate return, payroll and formal bookkeeping.

The tipping point depends less on revenue than on how much profit you leave in the business, whether you are hiring, and how you pay yourself. We map that out honestly, including when staying a sole proprietor is still better, so the decision rests on your actual cash flow. When incorporating is right, we handle the transition and first corporate year cleanly.

What EverStone handles for you

One CPA, one fixed fee quoted up front, everything below covered:

• T2 corporate tax return and year-end financial statements
• T5018 subcontractor information returns
• Equipment and vehicle CCA schedules kept accurate
• GST filed and reconciled
• Salary-versus-dividend planning each year
• CRA correspondence handled for you

Fixed fees, fully online

EverStone works online — video, e-signature and secure exchange. Your fixed fee is agreed before work starts, so a June question costs nothing extra, and the CPA who prepares your return answers your emails. See what it costs or send an enquiry for a written quote.

Remote contractor accounting

EverStone works with Langley businesses virtually. There is no premises in Langley, and nobody on the ground there. We work by video, phone and e-signature, tracking costs as they happen.

Owners who need getting the Langley returns filed as well will find it on the same terms.