42 - Taxes and Self-Employment: How Does It Work?

Being self-employed is about being independent. Most people enjoy the feeling until it comes to tax season. Obligations to the Canada Revenue Agency (CRA) can feel like you’re twisted in red tape and paperwork. But it doesn’t have to be so. In this podcast, Licensed Insolvency Trustee, Derek Chase talks about taxes and self-employment. How can you avoid the stress of the annual tax season? What systems can you put in place that will keep you on track through the year.

Derek also discusses:

• Why self-employed people run into tax problems
• Why the CRAs penalties and interest charges make tax debt the hardest to catch up with
• What a good bookkeeper can do for you
• The advantage of setting up monthly or quarterly tax installment payments
• What options are available when you aren’t able to pay your taxes 

If you are struggling with any kind of debt, Licensed Insolvency trustees can help you regain control of your finances. They are considered some of the best financial advisors in the country and are licensed by the federal government of Canada.

Derek Chase is a Licensed Insolvency Trustee in British Columbia. He has been helping individuals and corporations restructure their debt since 1997. His areas of practice include personal and corporate insolvency including Consumer Proposals and Bankruptcy. The best part of his work is to be able to witness lives change for the better when the heavy burden of unmanageable debt is lifted. 

• Derek L Chase & Associates Ltd. Licensed Insolvency Trustee
• Canada Tax: How to Get Tax Debt Relief from CRA
• Tax Debt Help – What You Need to Know