Sole Proprietorships

Sole-Proprietorships are businesses that have not gone through the process of incorporating.  The income and expenses for these types of business are reported on your Personal Tax Return.  You have the option of running this type of business just under your personal name rather than a business name, or you can register a business name at any Alberta Registries office.  You may also be required to register for a GST number with Canada Revenue Agency if your total revenues before expenses are more than $30,000 per year, and if you provide sales and services that are not considered to be GST exempt.  If you plan on hiring employees, you will also need to register for a payroll account number with Canada Revenue Agency.  Owning and running a business, whether sole-proprietorship or a corporation, comes with responsibilities and it is important to know what these responsibilities are.  

Because a sole-proprietorship is a business, bookkeeping is a very important task that needs to be completed for your business.  There are many options available on how to go about getting your bookkeeping done.  For example, you can hire a bookkeeper, purchase and use software such as Quickbooks, or set up and use an Excel spreadsheet to track all of your income and expenses on your own, just to name a few options.  

We provide the following services for Sole-Proprietorships:

  • Bookkeeping Service including GST return filing, payroll/T4 filing, tax return preparation and filing.
  • Quickbooks and Microsoft Excel Training if you prefer to do your own bookkeeping.
  • Quickbooks software discounts.
  • Microsoft Excel Bookkeeping Templates.
  • Consulting Services.

For Pricing information relating to Sole-Proprietorships please visit our Fees page.  

For important dates and information such as helpful links and due dates, please visit our Important dates and Information page.

For questions regarding Sole-Proprietorships or to book an appointment, please contact us.

We are also part of the Quickbooks ProAdvisor Program.

© Double-Entry Bookkeeping & Tax Services 2019