Bookkeeping for Consultants
Monthly bookkeeping, salary vs. dividend optimization, HST filing, T2 corporate tax, and shareholder loan management — built for IT, marketing, financial, and management consultants operating through a corporation.
Last updated: March 2026
Why Consultants Need Specialists
The Financial Complexity of Consulting
Running through a corporation adds layers — salary vs. dividends, HST thresholds, shareholder loans, and T2 filing — that most general bookkeepers are not equipped to handle.
Salary vs. Dividend Decision
Incorporated consultants must decide how to extract income from their corporation. The wrong mix creates unnecessary tax — and most accountants only review this once a year, too late to adjust.
HST Registration and Filing
Once your revenue exceeds $30,000, HST registration is mandatory. Many consultants miss this threshold mid-year and face backdated HST liability plus penalties.
Expense Tracking Across Projects
Home office, travel, meals, software subscriptions, and professional development are all deductible — but only if documented correctly and allocated to business use.
Corporate Compliance Deadlines
T2 corporate returns, payroll remittances, and HST filings each have separate deadlines. Missing any one of them triggers CRA interest and penalties.
Our Services
What Taxxel Handles for Consultants
Monthly Corporate Bookkeeping
All income, expenses, and inter-account transfers recorded, categorized, and reconciled monthly.
Salary vs. Dividend Planning
Year-round optimization of how you extract income from your corporation to minimize combined personal and corporate tax.
HST/GST Quarterly Filing
Accurate HST returns filed on time — including eligible ITCs for software, travel, and business expenses.
Expense Management
Home office, vehicle, meals, travel, and professional fees — tracked, documented, and claimed correctly.
T2 Corporate Tax Return
Annual corporate income tax return prepared and filed — including T5 dividend slips and T4 salary slips.
Payroll for Owner-Operators
Payroll setup, regular salary payments, and CRA remittances so your RRSP contribution room and CPP credits are protected.
Monthly Financial Statements
P&L and balance sheet every month — so you know your retained earnings, tax liability, and cash position at all times.
Shareholder Loan Tracking
Monitoring your shareholder loan account to prevent a taxable benefit or unexpected tax inclusion at year-end.
Complete Package
What's Included
- Monthly bookkeeping and bank reconciliation
- Accounts receivable and invoice tracking
- Business expense categorization and documentation
- HST quarterly filing with ITC recovery
- Payroll processing and CRA remittances
- T4 and T5 slip preparation
- Salary vs. dividend mix optimization
- Shareholder loan account monitoring
- Monthly P&L and balance sheet
- Annual T2 corporate tax return
- Year-end financial statements
- CRA correspondence management
Pricing
From $100/month
Flat monthly rate based on transaction volume and services. No hourly billing — predictable costs every month.
Get a Custom QuoteIT, Marketing, Finance & More
We work with IT consultants, management consultants, marketing professionals, financial advisors, engineers, and all incorporated service providers.
FAQ
Frequently Asked Questions
Ready to Get Started?
Get in touch today — we are here to help with your tax and bookkeeping needs.
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