Objective:
- Learn how to claim business income – Form T2125
Instructions:
- Please fill out the tax return based on the form provided below.
Documents for Assignment:
Self-employed Income and Expenses
Additional Questions to Complete:
- Why do business owners usually owe more taxes than salaried employees at the end of the year?
- Is clothing/dry cleaning tax deductible?
- What is the dollar threshold for an item to be considered an asset?
- When are self employed taxes due?
