- Trusted Accounting Experts for Contractors in Toronto
Construction Accountant Toronto, Accounting And Tax Services For Contractors
Running a construction or trades business in Toronto requires accurate bookkeeping, tight cash-flow management, and full CRA compliance. NRK Accounting helps contractors, subcontractors, and construction companies stay organized, reduce taxes, and keep projects profitable.
We specialize in supporting trades such as electricians, plumbers, general contractors, HVAC professionals, and renovation companies throughout Toronto and North York. Whether you operate as a sole proprietor or a corporation, we handle your accounting, bookkeeping, HST, payroll, and tax filings all in one place.
Our goal is to simplify your finances so you can focus on running job sites — not paperwork.
Accounting Services For Contractors In Toronto
Construction and trades businesses face unique financial challenges — fluctuating income, subcontractor payments, material costs, and project deadlines. We provide services built specifically for the industry:
Job costing and expense tracking by project
Track profitability per job
Bookkeeping and financial reporting tailored for contractors
Industry-specific reporting
HST filing and compliance for construction businesses
Complex HST rules handled
Payroll setup and processing for employees and subcontractors
Accurate classification
Cash flow planning for project based operations
Manage seasonal income
T2 corporate tax returns and T1 personal tax support
Complete tax services
Tax planning to maximize deductions such as tools, equipment, vehicles, and home office use
Maximize deductions
For ongoing support, many contractors use our Bookkeeping Services Toronto to ensure accurate records year round.
Keep More Profit with Strategic Construction Tax Planning
Construction businesses qualify for industry-specific deductions and tax strategies. We make sure you don’t leave money on the table.
Maximizing write offs for tools, equipment, safety gear, fuel, and vehicles
Accurate tracking of subcontractor payments for CRA
Handling WSIB reconciliation and compliance guidance
Avoiding penalties from incorrect HST treatment on supplies and labour
Guidance on whether to pay yourself salary, dividends, or both
For contractors operating through a corporation, we streamline your year end with our Corporate Tax Accountant Toronto services.
Payroll And Subcontractor Compliance For Trades
We ensure proper source deductions and contractor classifications so your crew is paid accurately and compliantly.
Payroll setup and processing
Streamlined payroll management
T4s and Records of Employment (ROEs)
Year-end compliance
Subcontractor expense categorization
Proper classification
Advice on CRA taxable benefits and allowances
Stay compliant
Our Payroll Services Toronto help you stay compliant without payroll headaches.
HST Setup And Reporting For Construction
HST in the construction industry can get complicated — especially when dealing with subcontractors and materials.
We help you:
Register for HST if required
Complete setup process
Track HST on materials and subcontract labour properly
Detailed tracking
File accurate and timely HST returns
Never miss a deadline
Avoid reassessments, penalties, or ITC denials
Full compliance
Learn more about our HST Filing Services Toronto.
Why Contractors Choose NRK Accounting
Industry-specific accounting knowledge
Support for both incorporated contractors and sole proprietors
Fast response time and dedicated support
Competitive pricing for small businesses
Based in North York, serving all of Toronto & GTA
We understand the pressures contractors face — long hours, seasonal income, and tight project margins. Our accounting helps you stay profitable and compliant without stress.
FAQs Construction And Trades Accounting In Toronto
Do I need bookkeeping if I’m a sole-proprietor contractor?
Yes. Accurate bookkeeping ensures you claim all deductions, avoid CRA issues, and understand your profitability.
What business expenses can contractors write off?
Tools, equipment, safety gear, fuel, vehicles, phone, home office, subcontractors, and more — we ensure nothing is missed.
Can you help with WSIB?
Yes. We assist with WSIB reporting and proper payroll classification.
How often should contractors file HST?
Most file quarterly, but it depends on revenue level — we handle the full process for you.
Do you work with both small and larger construction companies?
Yes — from a one-man trade to a fully incorporated crew, we provide customized support.
Need Construction And Trades Accounting help?
Book a free consultation to discuss Construction And Trades Accounting
Get professional accounting support built for the construction industry.
Speak with a Construction Accounting Specialist Today
Location
40 Wynford Drive, Suite 211 North York, Toronto
Phone
416-577-4301
info@nrkaccounting.com