Sole Proprietorship/Self- Employed
Your proprietorship or self employed income is reported along with any personal income on a T1 Income Tax Return. The tax filing deadline for a proprietorship is different. Self employed individuals, such as sole proprietors, have until July 15 to file, however, any tax owing must still be paid by April 30th. Your deductions can include home office, vehicle and all other business related expenses. Our team will discuss your proprietorship tax reporting options.