Trucking accountant in Abbotsford

Accounting built for owner-operators

Trucking is capital-heavy and expense-heavy: the truck itself is a major asset, fuel and maintenance are constant, and margins depend on tracking cost per kilometre closely. That is a different accounting problem from a typical small business, and it rewards a setup built around the realities of the road rather than a generic template.

Truck depreciation and equipment

Your truck and trailers are capital assets written off over time through capital cost allowance, at the rate for their class, with the half-year rule in the year of purchase. How the truck is classified and when you buy it both affect your deduction, so a major purchase is worth timing around your year-end. We keep the CCA schedule accurate and handle dispositions cleanly when you trade up.

Fuel, GST and freight

GST on freight is not one-size-fits-all — some services are zero-rated, some taxable, and interjurisdictional carriage has its own treatment — and once registered you recover GST on fuel and expenses through input tax credits. Getting registration and the zero-rated-versus-taxable question right keeps your filings correct and your input credits flowing.

Records that make or break a trucking file

More than most trades, trucking lives and dies on records. Fuel receipts, maintenance invoices, logbooks and a clean separation of business from personal use are what turn legitimate costs into deductions that survive a review — and what protect you if the CRA looks closely, which it does with cash-heavy, high-expense operations. Owner-operators who track diligently through the year keep far more than those who hand over a shoebox each spring. We put a simple system in place: how to capture fuel and expenses as you go, what the logbook needs to show, and how to record the truck and any trailers as capital assets. The payoff is two-fold — you claim everything you are entitled to, and your year-end is a quick confirmation rather than a reconstruction. It also means when you finance or replace a truck, the numbers are already clean enough to make the tax side of the decision clear.

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
• Truck and trailer CCA schedules kept accurate
• Fuel, maintenance and logbook record systems set up
• GST registration, filing and input tax credits
• Business-versus-personal vehicle split handled correctly
• CRA correspondence handled for you

Fixed fees, fully online

EverStone is an Abbotsford CPA firm, and every engagement runs online — video calls, e-signature and secure document exchange — so you never lose a day to an office visit. You are not billed by the hour or the phone call: your fee is a fixed amount agreed before any work starts, so you can ask a question in June without watching a meter. The same CPA handles your file all year, which means the person who prepares your return is the person who answers when you call. See what it costs or book a free, no-obligation consult and leave with a clear written quote.

About the author

Sunny Dhillon, CPA

Founder of EverStone CPA and a member of the Chartered Professional Accountants of British Columbia (CPABC). More about Sunny →