Accounting and Bookkeeping Services King City for Contractors, Professionals, Clinics and Small Businesses
Accurate, Cloud Bookkeeping That Helps King City Businesses Thrive
From custom home builders and family farms to private medical practices and incorporated consultants, King City entrepreneurs wear many hats. But when it comes to CRA compliance and financial clarity, professional bookkeeping is a necessity—not a luxury. At MAQ CPA accounting firm, we offer Accounting and Bookkeeping Services King City that are tailored to your industry, business model, and growth stage. With licensed CPAs overseeing every account, we provide peace of mind through organized records, accurate filings, and business insights you can actually use.
We Serve King City’s Core Business Sectors
[A] Contractors & Trades Businesses in King City
King City has a strong base of construction contractors, tradespeople, landscapers, and independent technicians, many of whom operate seasonally or project-by-project. Keeping up with invoices, subcontractor payments, WSIB, and CRA reporting can quickly become overwhelming.
We help with job costing, payroll, subcontractor T5018 slips, HST filing, and CRA-compliant expense tracking—giving you more time on-site and less time behind a desk.
FAQs – Construction & Trades Bookkeeping King City
1. Do I have to issue T5018s to subcontractors?
Yes—if you pay $500+ a year to subcontractors in construction, you must file T5018s annually. We handle this for you.
2. Can I deduct my truck or trailer expenses?
Yes—business-use vehicles and equipment expenses are deductible. We track usage and apply the proper CCA rates.
3. What if I only operate part of the year?
We provide seasonal bookkeeping options tailored to your work schedule and cash flow.
4. Can you handle WSIB and payroll for my trade?
Absolutely. We manage WSIB registration, remittances, and employee/source deductions.
5. How do you track materials vs. labour for jobs for my construction projects?
We provide job-specific expense tracking and customized reports for better cost control and pricing decisions.
[B] Medical Clinics and Incorporated Professionals in King City
Many healthcare providers in King City operate through Medical Professional Corporations (MPCs). These include general practitioners, physiotherapists, optometrists, and specialists with both insured and private-pay patients.
We help with OHIP deposit reconciliation, clinic payroll, HST tracking for cosmetic services, and full bookkeeping support for MPCs—including year-end preparation.
FAQs – Medical & Health Bookkeeping King City
1. Are all my services HST-exempt?
Not necessarily. OHIP-covered services are exempt, but private services may be taxable. We help categorize them properly.
2. Can you handle payroll for my clinic team?
Yes—full-service payroll includes source deductions, WSIB, and year-end slips.
3. Can I expense my medical equipment?
Large purchases are capitalized and depreciated over time. We track them using CRA’s CCA rules.
4. Do you help with CRA or regulatory audits?
Yes—we organize records and offer direct support during CRA inquiries or professional college audits.
5. Can I combine my personal and professional taxes?
We offer coordinated services for your corporate and personal tax returns for integrated planning.
[C] Real Estate Professionals and Incorporated Consultants King City
King City is home to realtors, brokers, mortgage agents, and incorporated professionals who need clear records for tax planning and CRA compliance. Income may be commission-based, fluctuating, or subject to GST/HST.
We support commission tracking, mileage logs, business-use-of-home expenses, HST registration, and payroll for incorporated consultants.
FAQs – Real Estate Agent, PREC & Consultant Bookkeeping King City
1. Can I write off my home office or vehicle expenses?
Yes—within CRA guidelines. We calculate the business-use portion and ensure it’s properly documented.
2. Should I pay myself salary or dividends from my PREC?
It depends. We assess your situation and recommend a tax-efficient compensation strategy in coordination with your T2 return.
3. Do I need to collect HST as a real estate agent?
Yes—if you’re earning more than $30,000/year in a calendar quarter or four consecutive quarters. We’ll register and file for you.
4. Can you help with tax estimates for commission income?
Yes—we can provide quarterly estimates to avoid year-end tax surprises.
5. I get paid through my brokerage—how does that affect bookkeeping?
We track gross commissions, brokerage fees, and deductible business expenses separately for clarity and accuracy.
[D] Franchisees, Retailers, and eCommerce Entrepreneurs
Whether you’re running a local franchisee, an online store, or a retail shop in town, bookkeeping can get complicated fast with inventory management, multiple sales channels, and HST obligations.
We offer Shopify/Amazon integrations, inventory tracking, royalty reporting for franchisors, and POS system bookkeeping.
What’s Included in Our King City Bookkeeping & Accounting Services
- Monthly or quarterly bookkeeping
- GST/HST tracking and filing
- Payroll (setup, remittances, T4s, ROEs, WSIB)
- Capital asset and depreciation tracking
- Expense classification and account reconciliation
- Chart of accounts tailored by industry
- T4, T5, T5018 slip preparation
- CRA audit support and document prep
- Financial statement preparation
- Software integration: QuickBooks, Xero, Wagepoint, Cosmolex, Clio, PCLaw
CRA Compliance – We Keep You Fully Covered
Whether you’re self-employed, incorporated, or run a family business, accurate books and on-time filings help avoid CRA penalties, missed credits, and audit stress.
CRA Requirements We Meet for You:
- 6+ years of record retention
- GST/HST return accuracy
- Payroll remittance and slip filing
- Separation of business and personal expenses
- Accurate CCA claims for capital assets
- Timely T-slip filing (T4, T5, T5018)
CRA: Keeping Business Records
Avoid These Common Mistakes:
- Late HST or payroll filings
- Misclassified expenses
- Missing income or unclaimed deductions
- Audit exposure from incomplete records
Our Compliance:
- CPA-supervised reconciliations
- Cloud-based document storage
- Filing calendar and deadline monitoring
- Full support during CRA reviews or audits
- Clean records you can rely on anytime
Why Choose MAQ CPA for Bookkeeping in King City?
✔ Chartered Professional Accountants (CPAs) with 10+ years of experience
✔ Industry-specific bookkeeping for lawyers, construction, clinics, and consultants
✔ CRA-compliant and audit-ready bookkeeping practices
✔ Paperless options and support for traditional businesses
✔ Flat-rate pricing for predictable budgeting
✔ Remote and year round services available
✔ Fast onboarding and customized chart of accounts
✔ Full-service firm: bookkeeping, tax, payroll, and year-end all in one place
FAQs – King City Bookkeeping & Accounting
1. What do your bookkeeping services cost?
Bookkeeping fee starts at $300/month, increases depending on business size, service level, transaction volume, and complexity.
2. Can I use my current system or switch to cloud software?
We work with your current setup or help you transition to platforms like QuickBooks Online or Xero.
3. Do you provide year-end tax filings too?
Yes—we offer integrated bookkeeping and T2/T1 tax filing to streamline your year-end process.
4. Can you help with old or messy books?
Absolutely. We clean up backlogs, fix errors, and get your records CRA-ready.
5. Is there a contract or minimum term?
No long-term contract is required. We offer flexible, month-to-month support based on your needs.
Clean, Reliable Bookkeeping for Your King City Business
Your books are more than just a tax tool—they’re your business’s financial foundation. Whether you’re a contractor, clinic owner, or independent professional, MAQ CPA bookkeeping firms deliver CRA-compliant, personalized bookkeeping in King City that helps you stay organized, plan better, and sleep easier.
Serving King City and King Township with reliable bookkeeping, payroll, and year-end accounting. Let’s take bookkeeping off your plate—so you can get back to building your business.
Get Started Today with a Free Consultation!
📞 Call: 416-901-4126
📧 Email: info@maqcpa.ca