- My husband has received a three T4As with box 048, fees for services, amounts for his work as a sports coach for a University. I entered these amounts in under the section for T4As, but do I also have to put these amounts in a T2125 as well? If so not sure if this income is classified as business or professional? And where would I put this amount in the T2125? In “Gross sales, commissions, or fees” or in the “income from other sources” category.Also had a question about the motor vehicle expenses. If I enter in the full/total yearly costs of fuel and oil, maintenance and repairs, etc.. will the software automatically calculate my claimable portion for the business based on the km’s I entered, or do I have to calculate my own claimable portion based on km’s used. eg. I have receipts for $1200 for gas for the year. So do I enter in this amount or figure out the portion I can claim for the business based on the percentage I used the car for business.Thank you![…]
- I have a few t4’s but I also clean a few houses, I have receipts but I don’t have a buisness number or anything, does that matter?
- I’m a freelance florist and make my wages by invoicing the floral companies I work for. I’m confused about the $30 000 threshold relating to GST/HST and registering my business, can you help me?
- I am beginning to sell ‘Scentsy’ as a side job and have a few questions before I begin: Do I need to register for a GST/HST number? Will I file a tax return as a self-employed individual, or do I have to file 2 separate tax returns? Am I allowed to claim work expenses, such as equipment and office space?[…]
- Today is deadline day for self-employed Canadians
Posted May 18th 2016
Dear small business owner, You are part of a “rare breed”. You are driven, nimble, passionate and resilient. You are also busy and filing a tax return can feel like one more thing to do. To help you ease into tax season, here are some tax tips that might come in handy: Preparation and Planning […]
Posted July 24th 2015
Taxes aren’t always an intuitive topic. Every month we will post frequently asked or interesting questions we receive. Here is the June edition of Dear Tax Pro. Q: If you already receive CCTB (Canada Child Tax Benefit) do you still have to apply for the new one with the lump-sum payment for July? Will it […]
Posted June 15th 2015
The May 5 extended tax filing deadline for personal tax returns may have long since passed, but the deadline for filing small business tax returns is midnight tonight. Getting organized early is always encouraged, but for self-employed Canadians it is even more important. There is usually more paperwork and receipts involved. If you still haven’t […]