Learn all you need to know for your taxes as a sole proprietor or partnership.
As a or sole proprietor or partnership, you report business income on your personal tax return by filling out Form T2125: Statement of Business or Professional Activities.
This workshop will focus on going through the T2125 form line by line to help business owners file their own tax return.
The main areas of focus will be:
- Determining income types and what forms to complete
- Overview of all 22 expense categories provided by CRA
- What can and cannot be deducted
- Calculating CPP or EI
- Filing and Payment deadlines
- When to get professional advice
Other Topics can include:
- Determine the preferred mix of salary and dividend
- Review salaries and dividends for family members
- Consider accruing reasonable remuneration (salary and or bonuses)
- Maximize your Capital Cost Allowance (CCA) claim
- Delay disposing of depreciable assets
- Consider delaying or deferring income.
- Purchasing Equipment for Your Business
- Paying for Car Repairs
- Make charitable donations
- Take another look at the amount of tax instalments paid this year
- Review your HST filings
- Buying Medical Insurance
- Refilling Prescriptions and Buying Glasses
About the Presenter:
Afshan is a goal-driven, highly organized, and results oriented accounting professional with over 15 years in the accounting service industry. Afshan has owned and operated Antares Accounting Services which assists individuals and small businesses with their accounting and tax needs. Afshan brings with her experience in taxation, financial reporting, and assurance. In her Accounting practice, she has helped start ups, independent contractors, construction businesses, IT companies, and professional businesses with their accounting and tax needs.
Afshan Ahmad, CPA, CGA
Antares Accounting Services
Registration at 4:45 pm, sessions starts promptly at 5:00 pm
Do I have to bring my printed ticket to the event?
No, you do not need to bring a ticket with you
What can/can’t I bring to the event?
You don’t need to bring anything but your questions and a notebook if needed. Coffee/Tea & Light refreshments will be provided.
Is there Parking?
Yes there is plenty of free parking however our parking lot is currently under construction.
For more information, call us at (905) 668-4949 or email [email protected]
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