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How Incorporated Truckers can benefit from Truckers Tax and Accounting Services in Canada

Are you an incorporated commercial truck driver? If yes, then you know pretty well that different expenses and deductions can pay for you. Also, there are special forms that you need to fill out while filing your taxes. Besides this, you should be aware of any changes made by the Canada Revenue Agency.

If you are failing to stay on top of all the relevant things, it means you may not be taking advantage of the crucial aspects. This also means you’re paying more taxes than required. At this point, hiring a tax consultant working with truckers will help you maximize your tax deductions so you could save the maximum of your hard-earned money.

Are you wondering how trucker tax and accounting services in Canada could benefit you? Below, let us check out some reasons why it’s crucial to hire a tax consultant specializing in working with truckers regarding their bookkeeping, accounting, and tax preparation needs in Canada.

Deductions and Expenses

Incorporated truckers can make several tax deductions. Also, certain deductions can pay for long-haul truck drivers. The reality is, keeping track of all these can be quite challenging for an amateur.

For example, you can deduct 50% of your meal and beverage expenses, if you’re a truck driver. On the other hand, if you’re a long-haul trucker, during eligible travel periods, you can deduct 80% of meal and beverage expenses. As a long-haul trucker, you can also deduct lodging and shower expenses.

Some other authorized expenses truck drivers can claim are:

  • Dry cleaning fees
  • In-cab living expenses
  • Cleaning supplies
  • Company issued uniforms
  • Tools
  • Internet
  • Load securement

So, have you been keeping all your receipts in your cab or under your seat? Instead, why don’t you let an experienced tax consultant assist you to keep track of everything?

Monthly Bookkeeping

As a truck driver, you’re on the road for the maximum time. That is why it’s quite easy for you to overlook the deductions, expenses, filing for taxes, and compliance. Here, tax professionals can lend you a hand. They have a comprehensive understanding of the ins and outs of the trucking industry. That is why they can assure your bookkeeping is always kept updated and your life is less taxing as well.

Mobility Facilities

Since in most cases, you’re out of town and on the road, it becomes difficult for you to find time in your busy schedule and meet up with a tax consultant. Therefore, always use a tax consultant who understands your schedule and arranges their schedule around yours to collect your tax info and to know your business in a better way.

Saves Money

A tax consultant with a broad understanding of the Canadian trucking industry will help you save money in the long run. They will explain all the legal loopholes that you can use for reducing your taxes and get your money back to you as soon as possible. On the other hand, an inexperienced tax consultant will end up costing you a lot of money.

Whether its deductions, expenses, or tracking GST/HST appropriately – when it comes to preparing your taxes, it’s quite easy to overlook or forget things. So, you better leave it over to the experts. An expert will help truckers reduce their tax burden.

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    23:16 14 Aug 23
    One of the Best Accountant in Edmonton. They provide wonderful accounting and tax services for me. Looking forward to next year again.
    Shelby BakerShelby Baker
    10:34 05 Apr 21
    Really happy with Bomcas Ltd Accounting & Tax Services! They have offered me specialized service for all tax requirements for accounting, incorporation and taxes. I have referred them to several people.
    Kevin (Kevinstrek)Kevin (Kevinstrek)
    15:35 16 Mar 21
    Came to the company by Google search for a trucking accountant. They turned out to be a very competent and experienced firm. I really liked the online aspect where you can do the entire transaction without ever stepping foot in the office. I just app scanned all my tax forms and set them in. They will ask for anything you don't send if needed and it was all done in a few days. I also paid via online payments. It's convenient being a truck driver as I'm not around much. The quality of service is great and they caught all the details of trucking and I claimed things other accountants have missed. For sure I'll be recommending them to others and coming back next year.
    Richard ObanionRichard Obanion
    07:21 11 Mar 21
    So excellent and efficient! BOMCAS handled my personal tax. Truly affordable charges and amazing services. I would like to recommend it to all my friends who need it. Thanks a lot!
    Kendra Robinson-BrowneKendra Robinson-Browne
    18:19 13 Jan 21
    We used Bomcas for our taxes last year, and we were very impressed! The service was fast, efficient, knowledgeable, and most importantly, Karen seems to really enjoy what she does. They are very affordable, and we will be using them again and again. I would highly recommend using them for all your tax and accounting needs!
    Devine Smith-MoultonDevine Smith-Moulton
    07:00 13 Jan 21
    The professionalism I receive from the staff at Bomcas is exceptional. My tax return is done accurately and in a timely manner. I would recommend anyone to this company. You get your money's worth.
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