tax breaks tagged posts

Income Tax and Self-Employment

IncomeTax

As stated in my related article “3 Main Components of a Basic Tax Return”, if you are reporting income from self-employment in Canada, you must provide an income and expense statement which contains your total income for the year, a breakdown of operating expenses, and your net income or loss.

This article is directed to owners of small businesses and provides information about the income and expense statement and business operating expenses.

This information and additional details can be found in the Canada Revenue Agency (CRA) information booklet entitled “Business and Professional Incom...

Read More
Google+