Self-employed Business Tax Preparation Checklist | Solid Tax
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Self-employed Business Tax Preparation Checklist

Self-employed Business Tax Preparation Checklist

General Information

  • Copy of your previous tax return(for new clients only)
  • Business name
  • GST/HST number
  • Business address
  • Business main product or service

Gross Business Income

  • Your gross business income(net of GST/HST)

Business Expenses(net of GST/HST)

  • Purchase of materials
  • Subcontracts
  • Advertisement
  • Meal and entertainment
  • Bad debts
  • Insurance
  • Interest
  • Business fees, licenses, due, and memberships
  • Office expense
  • Office stationery and Supplies
  • Professional fees
  • Management and administration fees
  • Rent
  • Maintenance and repairs
  • Salaries, wages, and benefits
  • Travel
  • Telephone and utilities
  • Delivery, freight, and express
  • Other expenses

Business-use-of-home expenses

  • Heat
  • Electricity
  • Insurance
  • Maintenance
  • Mortgage interest
  • Property taxes
  • Other expenses
  • Percentage of personal usage

Motor Vehicle Expenses

  • The kilometres you drove in the tax year to earn business income
  • The total kilometres you drove in the tax year
  • Gas
  • Interest if you are financing your vehicle
  • Insurance
  • License and registration
  • Maintenance and repairs
  • Leasing cost if you are leasing your vehicle
  • Other expenses (please specify)
  • Business parking fees
  • Supplementary Business Insurance

Assets used in your business

  • Vehicle
  • Computer
  • Equipment
  • Others

You can download the checklist.

Thanks!



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