👀 TLDR: Independent Contractor Taxes
Roo Locum RVTs are independent contractors, and taxes are not taken out of your income, so you’ll get paid every cent you see listed on the shift card. This is very exciting because what you see listed on the shift card is exactly what you’ll get in your bank account. However, it's not so exciting when tax season rolls around later.
Our Advice: set some money aside for tax season so you're prepared.
How much? Talk to a Canadian accountant or tax professional to get a good estimate that pertains to your specific financial situation. 'Cause honestly, I am not good at math.
🏦 Bonus Tip: Throw that money you set aside in a high-interest savings account and make money with your money while you wait!
🦘 How do taxes work with Roo?
Roo does not withhold taxes from your earnings. You'll receive the full amount shown on each shift card, and you're responsible for reporting that income yourself.
Your Earnings page tracks everything you've earned through Roo, so you'll have a complete record when you file.
⭐ Roo Tax Features (a.k.a. Easy Mode)
Here are a few of our favorite features to help with taxes:
Your Earnings Page tracks your income in real time to help you keep track of how much money you should set aside for tax season. Here, you can break your income down monthly or quarterly to calculate quarterly taxes if needed.
Do you need to pay in installments? Check with a Canadian tax professional about whether installments apply to you.
👩💼 I need a tax professional!
Good call!
We recommend working with a Canadian accountant familiar with self-employed professionals. A good one will save you more than they cost.
📢 Disclaimer: We are not tax professionals, and Roo does not provide tax, legal, or accounting advice. Our resources are for informational purposes only, and we always recommend speaking with a professional for guidance tailored to your situation.