Sole Proprietorship, what expenses are deductable

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Aurn
Member since: Jan 07

Posts: 76
Location:
Post ID: #PID

Posted on: 03-02-09 11:20:24

Hi Guys,

I have started a part time business and I am Sole Proprietor of this business.

I have got some work and people paid me for my work. My questions are:-

- Do I charge GST/PST from my clients as my current business income far less
then $30,000/year

- Do I have to create separate tax return of my business

- What type of expenses are deductable from business tax return. I am
operating business from home.

- For how many years a business can show loss

- Any other advise that you guys want to share

Thanks in advance

Regards

new york
Member since: Aug 07

Posts: 299
Location:
Post ID: #PID

Posted on: 12-03-09 09:53:09

Hi there, it would be nice to share those information with us (if u managed to find answers for those questions) as i am in the same boat as yours. It is tax time and i would be very grateful if other cd can add more informations. thanks in advance and sorry if this type of questions has been repeated as i couldnt find an answer on cd

AshwaniG
Member since: Jul 04

Posts: 1484
Location: Convinient
Post ID: #PID

Posted on: 12-03-09 09:56:04

Pls visit this link ..U might find it helpful
http://www.canadiandesi.com/read.php?TID=13737&page=1#123922
Ashwani

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Growing Old Is Mandatory ..Growing UP is Optional

new york
Member since: Aug 07

Posts: 299
Location:
Post ID: #PID

Posted on: 12-03-09 09:58:19

Thanks AshwaniG, you are great dude. keep it up -

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