It can be hard to decide what you’d like to be when you grow up – with so many choices, how do you land on the right profession?
For some, it may take years to find their calling, while others know from an early age exactly what they want to do.
Such was the case for Colleen Hoggarth, owner of Freedom Accounting Inc. – she entered the world of accounting at 17 and never left!
As luck would have it, after moving to Victoria she discovered a classified ad listing a bookkeeping and tax business for sale. After meeting with the previous owners, it was the perfect fit – Colleen would help move the business forward while continuing to care for their existing clients.
Her team has since grown to include 10 other members locally, with one working remotely in Ottawa.
Colleen’s extensive industry experience as a Certified Professional Bookkeeper allows her to offer a range of services to clients, including bookkeeping, accounting and tax preparation. If you don’t want to bear the burden of tax season, let Freedom Accounting Inc. take the stress off your hands!
As we prepare for the upcoming tax season, Colleen has two pieces of tax preparation advice to share.
- CERB: For those who collected CERB payments, it’s important to remember it wasn’t “free money,” Colleen warns. It was a subsidy from the government and there will be taxes to pay, so keep in mind you will owe tax on these funds.
- Working from home: Canada Revenue Agency has released a policy that allows you to claim up to $2 a day for 200 days of working from home, with up to a $400 deduction on your tax return. or you can claim expenses of working from home with a T2200 form (declaration of employment signed by your employer) which will allow you to deduct expenses of operating your office proportion from home.
Sharing the latest information with clients is key, but so is taking a personal approach for clients. People are, after all, at the heart of the accounting business!
Not only does she recognize every client by face and name but by always returning clients’ phone calls and emails within 24 hours, you’ll never be left waiting for an answer to those tax questions that invariably pop up.
“If my clients are trying to get in touch with me, there’s clearly a reason and I need to pay attention to them,” Colleen explains. “I truly, genuinely care about every one of my clients and what I do for them – I want to help each one as best as I can.”