Accountant / Bookkeeper

Tax guide for Canadian self-employed accountants, bookkeepers, and CPAs

Allowable Expenses

  • Accounting software licences — QuickBooks, Xero, Sage, TurboTax Business — client seat licences
  • CPA Canada dues & CPD — CPA dues, CPD courses, and professional licence fees
  • Professional liability insurance — E&O / professional indemnity insurance
  • Home office — Proportional share of rent, mortgage interest, utilities
  • Reference materials — CPA Canada handbooks, tax commentary, industry publications
  • Professional liability insurance — CPA Canada-required errors and omissions insurance premiums

Tax Tips

  • CPA Canada membership dues and annual fees are fully deductible as professional expenses
  • Continuing professional development (CPD) costs are deductible — keep the course receipts
  • Professional liability insurance is essential for client-facing work and fully deductible
  • Accounting software licences for client file management are deductible in the year you pay them

Frequently Asked Questions

Can a self-employed CPA deduct their own CPA Canada dues in Canada?

Yes — annual CPA Canada membership fees and provincial CPA body dues are fully deductible as professional membership fees on Form T2125. They are essential to maintaining your professional designation and earning income.

Related Professions

  • Financial Planner / Adviser
  • Management Consultant