Sole Proprietorship & Partnership
If your business is a sole proprietorship or partnership, you report your business income on your T1 personal income tax form. Your small business is you, so to speak, and the T income tax return package includes Form T2125 (Statement of Business or Professional Activities), which you will use to report your business incom
Corporations
If your small business is incorporated, you will report your business income on a T2 corporate income tax return. Legally, your incorporated small business is a separate entity and it needs to complete and file its own Canadian income tax return. (Note that you, as another separate legal entity, will also have to complete and file your own separate T1 personal income tax return.)
Whatever your business is, POM Accounting can help you file tax reurn with Canada Revenue Agency in the right way.
