Self-employed income tax?

Question

Does anyone know of a good book, guide, or website to help me with my income tax this year? I run a home daycare and I live in Ontario Canada.

Answer 1

Try the link below, it should have everything you need.
http://www.cra-arc.gc.ca/formspubs/t1general/ontario-e.html
You can also take a look at this one:
http://www.taxpage.com/taxlinks.htm

Answer 2

there are certain assessments; Are you accountable on your own salary & losses. (in case you've been employed you would possibly want to not make a loss) Do you mainly artwork for one individual/organization. it really is in a lot of circumstances extremely glaring, yet not consistently. i'm self-employed yet bypass to artwork popular at one place of work. might want to you get some different person to face in that you would possibly want for instance in case you went on vacation? this would not be achieveable in case you've been employed, might want to it? yet another try perhaps; do you get your own consumers/clients? i imagine you may receive a affirmation of self employment from the revenues, a minimum of I were given one about two decades in the past. even as someone will pay you funds they are answerable for the tax, except you're self employed so it really is really major to be sure.

Answer 3

daycare get alot of tax breaks, because they have to buy alot of stuff, make sure you save all you receits and I recommend plkacing all ur money into the bank, that way u have a good financial record

Answer 4

in your contract you should put a clause that says the employer (client) is reaponsible for tax claims.

i'm not sure exactly how to put it but my neighbor has this on hers and when revenue canada questioned her about her oncome tax she just showed them the contracts and they couldn't do anything about it.