The right accounting structure for your trucking business matters from the first load, not after an audit
Assurance / Tax / Advisory for Fraser Valley trucking and logistics businesses.
Trucking accounting is not the same as general business bookkeeping
A trucking operation has different economics than most small businesses. Your largest capital assets are vehicles and equipment that depreciate on a schedule with direct tax consequences each year. The choice between hiring company drivers and working with owner-operators who invoice as subcontractors carries different payroll obligations and different tax outcomes. Carriers operating across provincial or Canada-US borders face IFTA fuel tax reporting that a generalist bookkeeper often does not track. These are not details to sort out at filing time. They need to be built into your accounting setup from the start.
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What we handle for trucking and logistics businesses
Equipment depreciation & entity structure
Vehicle and equipment capital cost allowance (CCA) is a major planning lever for trucking companies. It is common and often advantageous to split the business into two entities: an operating company that handles drivers and contracts, and an equipment-holding company that owns the trucks and trailers. This structure can protect your equipment assets if the operating company is ever sued.
Payroll & owner-operator classification
Payroll obligations differ for company drivers paid on T4 versus owner-operators who invoice as subcontractors. The classification has real tax consequences for both parties and is worth getting right from the start. We help you set up the correct payroll structure so you are not dealing with a CRA reassessment years later.
GST/HST, fuel tax credits & IFTA
GST/HST registration and input tax credits apply to fuel, repairs, and equipment purchases. Carriers operating across provincial or Canada-US borders also have IFTA fuel tax reporting obligations, a compliance area a generalist bookkeeper often misses. We handle both so nothing falls through the cracks at filing time.
Real results
From a single truck to a full fleet
A separate client started with a single truck and, with our ongoing tax and financing support, grew into a multi truck fleet.
Fraser Valley based, in person when you need it
We work with trucking and logistics businesses from our offices in Abbotsford and Langley. Whether you need help with GST/HST filing or year-round tax planning, we are here when you need it.