Accountant for plumbers

A plumbing business can run a lot of service calls in a week, each with its own invoice, parts and HST. If those aren't recorded as they happen, they pile up into a mess at the end of the month.

I reconcile your books every month, so you can see what came in, what went out and how much HST you owe before the remittance is due.

If you keep fittings, valves and fixtures in the van or the shop to use on jobs, that stock counts as inventory. CRA has you value your inventory at the end of each year, and what's still on the shelf affects your profit for the year.

Counting it properly at year-end gives you a real profit number instead of a guess.

Plumber 306A is a compulsory trade in Ontario, so you need a Certificate of Qualification or a registered training agreement to do the work. Plumber is also a Red Seal trade.

If you employ an apprentice in the first two years of their apprenticeship, the federal Apprenticeship Job Creation Tax Credit can give you 10% of their eligible wages, up to $2,000 per apprentice per year.

If your plumbing business does construction work, WSIB coverage is mandatory even if it's just you, with some exemptions. Once you hire, most Ontario businesses have to register with WSIB within 10 days of the first hire. I keep your premiums tracked and your reporting on time.