About UsPricingReviewsContact UsClient Portal loginBook a Free 30-Min Call
About UsPricingReviewsContact UsClient Portal loginBook a Free 30-Min Call
Services
Get caught up
Catch-Up BookkeepingFrom $1,800Books & payroll
BookkeepingFrom $350/monthPayrollGet a quoteSR&ED ClaimsEnd-to-end SR&ED claims, quoted after consultationSR&ED for Software CompaniesQuoted after consultationSR&ED-Ready BookkeepingBooks + T2 for SR&ED claimsTax filing
Corporate Tax (T2)From $800 · nil T2 from $249GST/HST Filing$150 per returnPersonal Tax (T1)From $110 · students from $49Sole Proprietor Tax (T1 + T2125)From $300Start & grow
IncorporationFrom $499 + gov feesVirtual CFOFrom $2,500/monthAI Consulting & AutomationFor small businessesIndustries
Construction & tradesConsultantsTech startupsReal estateHealthcareSee all industries →More
PricingService areasAll services →Accounting and Tax Services for Ontario Consultants and Independent Contractors
Whether you invoice as a sole proprietor or through your own corporation, get clear answers on HST, incorporation and paying yourself, from a CPA-led team.
24/7 receptionist, a real person answers.
- Every return is reviewed by a CPA
- No surprise bills
- Reply within one business day
- 24/7 receptionist: a real person answers
- QuickBooks Online, Xero and Dext
- Rated 5.0 stars from 29 Google reviews (read our reviews)
T-Ledgers is a CPA-led accounting firm working with Ontario management, IT, engineering, marketing, HR and project-management consultants, including contractors placed through staffing agencies. Wajahat Ajmal, CPA, FCCA, has been practising since 2020. We handle bookkeeping, HST, corporate and personal tax and owner pay planning, and every return is reviewed by a CPA.
Consulting income is simple to earn and easy to get wrong at tax time. The biggest risks are structural: how you’re set up, how you pay yourself and whether your contract looks like employment.
Consultant tax issues we handle
Rules, rates and thresholds change. We confirm the current figure for your situation on the call before relying on it.
Personal services business (PSB) risk
If you work through a corporation but would be considered an employee of your client without it, the CRA may treat the corporation as a personal services business, unless the corporation has more than five full-time employees or the client is an associated corporation. A PSB loses the small business deduction, pays the general corporate rate plus an extra 5% federal tax (about 44.5% combined in Ontario) and can deduct very few expenses. The CRA looks at control, who supplies tools, financial risk, chance of profit and how integrated you are with the client. We review your contracts and working arrangement before it becomes a problem.
Law: Income Tax Act s.125(7) (“personal services business”, “CCPC”); Income Tax Act s.123.5 (5% PSB tax); Income Tax Act s.18(1)(p) (PSB expense limits).
Sole proprietor or incorporate?
Incorporating can defer tax on income you leave in the company, but it adds a T2, payroll or dividend paperwork and annual Ontario filings. The Canadian-controlled private corporation (CCPC) small business rate applies to the first $500,000 of active business income, shared with associated corporations and reduced by passive income or taxable capital. We model both options with your real numbers.
← Swipe to compare →
| Sole proprietor | Incorporated (CCPC) | |
|---|---|---|
| Tax on business income | Personal rates on all profit | Small business rate on active income up to $500,000 ; personal tax when you pay yourself |
| Tax deferral | None | Profits left in the company are taxed at the corporate rate until paid out |
| Filing | T1 with Form T2125 | T2, T4 or T5 slips, plus your T1 and Ontario annual return |
| Filing deadline | June 15; balance due April 30 | T2 due 6 months after year-end ; balance generally due 2 or 3 months after year-end |
| PSB risk | Not applicable | Applies if the client relationship looks like employment |
| Liability protection | None | Limited, but not for professional negligence |
Law: Income Tax Act s.125(1) (small business deduction); Income Tax Act s.125(2) ($500,000 business limit); Income Tax Act s.125(5.1) (business limit reduction); Income Tax Act s.150(1)(a) (corporate return deadline); Income Tax Act s.150(1)(d) (individual return deadlines); Income Tax Act s.248(1) (“balance-due day”).
HST registration and the Quick Method
You generally have to register for GST/HST once your taxable revenue goes over $30,000 in a single calendar quarter or over four consecutive calendar quarters. Services provided to non-resident clients may be zero-rated. The Quick Method can save some consultants money, and it’s available if your annual taxable sales are $400,000 or less. We compare it with the regular method using your actual expenses.
Law: Excise Tax Act s.148(1) (small supplier, $30,000); Excise Tax Act s.240(1) (registration); Excise Tax Act Schedule VI, Part V, s.7 (services to non-residents); Streamlined Accounting (GST/HST) Regulations s.16(1) ($400,000 Quick Method limit).
Salary, dividends or both
Salary creates RRSP room and CPP contributions; dividends don’t. The right mix depends on your income, savings goals and plans. Paying family members has its own rules: the tax on split income (TOSI) rules can tax dividends to a spouse or adult children at the top rate unless an exclusion applies. We set a pay plan at the start of the year, not in March.
Home office, vehicle and equipment
Business-use-of-home, a vehicle log and CCA on laptops and equipment (computer hardware is generally Class 50 at 55%) all need records to back them up. If you’re incorporated, the rules are different: home-office and vehicle costs are usually reimbursed by the company under a documented policy rather than claimed on your T1. We set that up properly.
Law: Income Tax Act s.18(12) (work space in home); Income Tax Regulations s.1100(1) and Schedule II (CCA classes).
Instalments and deadlines
Self-employed individuals file by June 15 but must pay any balance by April 30. Personal instalments are generally required if net tax owing is over $3,000 ($1,800 in Quebec) in the current year and either of the two previous years. Corporations generally pay instalments if their tax payable is more than $3,000. We give you a calendar with every date.
Law: Income Tax Act s.150(1)(d) (individual return deadlines); Income Tax Act s.156.1(1) (instalment threshold); Income Tax Act s.157(1) (corporate instalments); Income Tax Act s.157(2.1) ($3,000 threshold).
Clients outside Canada
Many consultants bill US or overseas clients. Services to non-residents are often zero-rated for HST, foreign currency payments must be converted to Canadian dollars for tax, and US clients may ask for a W-8BEN or W-8BEN-E form. We help you handle the paperwork and claim foreign tax credits where tax was withheld.
Law: Excise Tax Act Schedule VI, Part V, s.7 (services to non-residents); Income Tax Act s.261(2) (Canadian currency).
Agency contracts and passive income in the company
If you contract through a staffing agency, the agency is usually your client, and the PSB questions still apply. Once retained profits are invested, passive income over $50,000 a year reduces the small business limit. We plan how much to keep in the company and how to invest it.
Law: Income Tax Act s.125(7) (“personal services business”, “CCPC”); Income Tax Act s.125(5.1) (business limit reduction).
Invoicing, receivables and bad debts
Fees you’ve billed are generally income when billed, not when the client pays, and HST is generally due on invoices as you issue them. If a client never pays, you may be able to deduct the bad debt. We set up invoicing and receivables tracking so cash flow and tax line up.
Keeping personal and business separate
Paying personal costs from your corporation’s account can create a taxable shareholder benefit, or a shareholder loan that’s added to your income if it isn’t repaid within one year after the end of the corporation’s tax year (with some exceptions). We set up a clean way to pay yourself and reimburse genuine business costs.
Law: Income Tax Act s.15(1) (shareholder benefits); Income Tax Act s.15(2) (shareholder loans); Income Tax Act s.18(1)(a) (expenses to earn income).
RRSPs and retirement planning
Salary creates RRSP contribution room; dividends don’t. We factor your RRSP plans into your salary and dividend mix each year.
Behind on filings?
If you’ve fallen behind, we catch up your books and returns. Where income wasn’t reported, the CRA’s Voluntary Disclosures Program may offer relief from some penalties and interest when the disclosure is voluntary and complete.
Law: Income Tax Act s.220(3.1) (waiver of penalty or interest); Excise Tax Act s.281.1(1) (waiver of interest).
Who we work with
- IT, software and data consultants
- Management, strategy and project-management consultants
- Engineering and technical contractors
- Marketing, design and communications consultants
- HR, recruitment and training consultants
- Contractors placed through staffing agencies
T-Ledgers services for consultants
- Bookkeeping Review, $195/month or $295/quarter. Keep your own books in QuickBooks Online or Xero and have them reviewed on a schedule.
- Catch-up bookkeeping, from $1,800. For consultants who've fallen a year or more behind (see catch-up bookkeeping).
- GST/HST returns, $150 per return.
- Corporate (T2) and personal (T1) tax. Corporate returns quoted after a free call; personal tax returns from $110 + HST/GST, with your final price confirmed after a free call. Owner T1s can be prepared alongside the T2 (see corporate tax and personal tax).
- Incorporation for Ontario businesses. Quoted after a free call.
- Owner pay and payroll setup. Quoted after a free call (see payroll services).
- Virtual CFO, from $2,500/month. For consulting firms with staff, multiple clients and growth plans (see Virtual CFO).
Prices are + HST/GST. Anything without a listed price is quoted after a free call, and you get the price in writing before any work starts.
How we work with consultants
- Free call. We look at your contracts, your setup and how you pay yourself.
- Written price. Scope and price in writing before any work starts.
- Setup. Bookkeeping in QuickBooks Online or Xero, HST registration and a pay plan.
- During the year. HST filed on time, instalment reminders and a mid-year check-in.
- Year-end. T2 and T1, all reviewed by a CPA.
Why consultants choose T-Ledgers
- Structure first, then paperwork. We start by looking at how you’re set up and how your contracts read, because that’s where the biggest consultant tax risks are.
- CPA-led, start to finish. T-Ledgers was founded by Wajahat Ajmal, CPA, FCCA. Every return is reviewed by a CPA before it's filed.
- No surprise bills. You get the scope and the price in writing before we start. If the work changes, we agree the new price with you first.
- Price matching, agreed up front. Have a comparable written quote? Bring it to us before you sign your proposal. We can only match a price when it's agreed before the proposal is signed.
- Fast, human answers. We reply within one business day, and our 24/7 receptionist means a real person answers when you call 866-254-5368.
- In person or online. Meet us in person, by appointment only, at our Etobicoke office (102-89 Skyway Ave, Etobicoke, ON M9W 6R4) or our Mississauga office (100 Matheson Blvd E #204, Mississauga, ON L4Z 3P8), or work with us entirely online.
- Your software, set up properly. We work in QuickBooks Online and Xero, and use Dext so receipts go in with a photo.
Meet your CPA
Wajahat Ajmal, CPA, FCCA, Founder, T-Ledgers Accounting. Verify my CPA Ontario membership.
I started my career as an audit associate at KPMG. Since then I’ve worked as an independent contractor for a tax filing company, preparing returns and handling client questions. I hold a BSc in Applied Accounting from Oxford Brookes University and an MSc in Professional Accountancy from University College London. I’m a Chartered Professional Accountant in Ontario and a Fellow of the ACCA. I started taking on my own clients in 2020 and founded T-Ledgers in 2023.
Every return the firm files is reviewed by a CPA. You can read more about the firm on our About page.
What our clients say
Read more on our client reviews page.
DIY vs a generalist firm vs T-Ledgers
← Swipe to compare →
| DIY | Generalist firm | T-Ledgers BEST VALUE | |
|---|---|---|---|
| Personal services business risk | Often unknown until a CRA review | May not review your contracts | ✓Contracts reviewed before you incorporate |
| Salary vs dividends | Guesswork | Often decided at year-end | ✓Pay plan set at the start of the year |
| HST and the Quick Method | Easy to miss | May not compare methods | ✓Both methods compared with your numbers |
| Who checks the return before it's filed | You do | Depends on the firm and who's assigned | ✓Every return is reviewed by a CPA |
| How you're billed | Software fees plus your own time | Often hourly; the final bill can vary | ✓Scope and price in writing up front. No surprise bills |
| Getting an answer | Search online or wait on CRA phone lines | Varies by firm | ✓Reply within one business day; 24/7 receptionist, a real person answers |
| Software | Whatever you set up yourself | May ask you to switch to their system | ✓QuickBooks Online, Xero and Dext |
| Meeting face to face | Not applicable | Varies | ✓In person by appointment in Etobicoke or Mississauga, or fully online |
| Price matching | Not applicable | Rare | ✓Available if agreed before you sign your proposal |
Frequently asked questions: Consultants
It can make sense if you earn more than you need to live on and can leave profits in the company. It may not help if most of your work is for one client on employee-like terms, because of personal services business rules (unless your corporation has more than five full-time employees). We’ll compare both options on a free call.
It’s a corporation that provides services that would make the owner an employee of the client if the corporation weren’t there, unless it has more than five full-time employees or the client is an associated corporation. A PSB pays the general corporate rate plus an extra 5% federal tax (about 44.5% combined in Ontario) and can deduct very few expenses.
Work for several clients, control how and when you do the work, supply your own equipment, carry real business risk and make sure your contract reflects that. We’ll review your contract.
Not much. The CRA still looks at the actual working relationship with the end client.
Generally once your taxable revenue goes over $30,000 in a single calendar quarter or over four consecutive calendar quarters. You can also register voluntarily before then to claim input tax credits.
Often not. Many services supplied to non-resident clients are zero-rated, but there are exceptions. We’ll check your contracts.
It often helps consultants with few expenses. It’s available if annual taxable sales are $400,000 or less. We’ll compare it with the regular method.
Generally the rate for the province where the service is supplied, based on place-of-supply rules. We set up your invoices so the rate is right.
Salary builds RRSP room and CPP; dividends don’t, but they have no payroll remittances. Many consultants use a mix. We’ll set a plan for your situation.
Possibly, but the TOSI rules can tax them at the top rate unless an exclusion applies, such as for a spouse when the owner is 65 or older. We’ll check before you pay.
Usually by reimbursing you under a documented policy, rather than you claiming it on your personal return. We’ll set it up.
Enough to cover taxes, a cash buffer and planned investments. Passive income over $50,000 a year reduces the small business limit, so we plan it.
June 15 if you’re self-employed, but any balance is due April 30.
Generally if your net tax owing is more than $3,000 ($1,800 in Quebec) in the current year and in either of the two previous years. The CRA sends reminders.
Six months after your year-end, with any balance generally due two or three months after year-end.
We’ll catch up your books and returns, and talk to the CRA for you if needed.
GST/HST returns are $150 per return, the Bookkeeping Review is $195/month or $295/quarter, catch-up bookkeeping starts from $1,800 per year and Virtual CFO starts from $2,500/month. Corporate (T2) returns, incorporation and payroll are quoted after a free call. Personal tax returns from $110 + HST/GST, with your final price confirmed after a free call. Prices are + HST/GST. You get the price in writing before any work starts.
Yes. We incorporate Ontario businesses and set up HST, payroll and bookkeeping in one go. Quoted after a free call.
Yes. We help with W-8BEN-E forms, foreign currency and foreign tax credits.
Yes, or meet us by appointment in Etobicoke or Mississauga.
Get your consulting business set up the right way
Book a free call to talk about your structure, HST and pay plan. We reply within one business day, and a real person answers 24/7 at 866-254-5368.
Reviewed by Wajahat Ajmal, CPA, FCCA. Updated October 15, 2026.
Related services: Bookkeeping · Catch-up bookkeeping · Corporate taxes · Personal tax · Payroll · Virtual CFO · Contact us
Rates and thresholds change, so we link to the official sources for current figures.