How to File Taxes If Self-Employed In Canada | Small Business Sole Proprietorship | Wealthsimple Tax
37.1 هزار بار بازدید -
3 سال پیش
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This video is a guide
This video is a guide on how to file your taxes in Canada if you are self-employed. This video is for the small business owner who operates as a sole proprietor. I will be using Wealthsimple Tax to file a T1 income tax return and mainly focusing on the T2125 form for reporting business or professional income. Also even if you don't plan to file your own taxes or haven't started a business yet, you can learn about the expenses you can deduct, capital cost allowance and other important information about your tax return.
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0:00 Intro
1:27 Before the T2125 form
2:19 Identification
3:55 Income
4:48 Expenses
5:27 Capital cost allowance
8:33 Business-use-of-home expenses
9:57 Motor vehicle expenses
11:21 CPP & EI
12:30 Final thoughts
------------------------
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DISCLAIMER - This is not a sponsored video, all my content is my own opinion and experiences. I am not a financial advisor and my videos are for entertainment purposes only. The financial products above contain affiliate links. Which means I earn a commission when signing up using my link at no extra cost to you. In most cases you get a sign-up bonus. All of my affiliate partners are with companies I use for my own personal finances.
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Sign up for Wealthsimple Tax using my link and get a $10 bonus
https://my.wealthsimple.com/app/tax-o...
0:00 Intro
1:27 Before the T2125 form
2:19 Identification
3:55 Income
4:48 Expenses
5:27 Capital cost allowance
8:33 Business-use-of-home expenses
9:57 Motor vehicle expenses
11:21 CPP & EI
12:30 Final thoughts
------------------------
FOLLOW ME ON INSTAGRAM & FACEBOOK
Instagram: charleewayne
Facebook: charleewayn
SUBSCRIBE TO MY YOUTUBE CHANNEL TO HELP SUPPORT THE GROWTH OF MY CHANNEL.
https://www.youtube.com/charleewayne?...
--------------------------
FINANCIAL PRODUCTS I USE
Wealthsimple Invest - Robo-advisor Investing app ($50 Sign-up Bonus)
https://wealthsimple.sjv.io/97N0e
Wealthsimple Crypto - Cryptocurrency Trading App ($10 Sign-up Bonus)
https://wealthsimple.sjv.io/QBXA6
EQ Bank Savings Plus Account - Best High-Interest Savings Account
https://api.fintelconnect.com/t/l/5f5...
KOHO - Spending account with a reloadable prepaid Visa (Get an extra 1% cash back for 90 days)
https://click.linksynergy.com/fs-bin/...
Mogo - Prepaid Visa, Free Credit Scores, Free Identity Fraud Protection Bitcoin Investing & more ($5 Sign-up Bonus in MogoCrypto)
https://api.fintelconnect.com/t/l/5f5...
CI Direct Investing - Robo-advisor Investing app ($10k Managed for free for 12 months)
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Newton - The Lowest fee Crypto trading platform ($25 sign-up bonus after you trade $100 of crypto)
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--------------------
DISCLAIMER - This is not a sponsored video, all my content is my own opinion and experiences. I am not a financial advisor and my videos are for entertainment purposes only. The financial products above contain affiliate links. Which means I earn a commission when signing up using my link at no extra cost to you. In most cases you get a sign-up bonus. All of my affiliate partners are with companies I use for my own personal finances.
Music: Coupe By The Grand Affair
CREDIT: Subscribe Button by MrNumber112 Free Download: Subscribe Button + Not...
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