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Maximize Your Deductions: Common Self employment Expenses
Whether you’re a consultant, contractor, freelancer, or business owner, many of the expenses you incur as part of running your business can be claimed on your taxes. Tracking and documenting all your business expenses throughout the year is critical to maximizing your deductions and minimizing your tax liability.
If you’re not sure whether an expense qualifies or how to claim it, don't hesitate to reach out. We can work together to ensure you're taking full advantage of all the tax benefits available to you.
Self Employment expenses - Checklist
As a self-employed worker, regardless of your industry or field, you may be overlooking business expenses that can be deducted to reduce your taxable income. Here’s a list of potential expenses you can claim on your T2125 (Canada) and TP-80 (Quebec) tax filings, whether you're a consultant, tradesperson, artist, or independent contractor.
You can download the list of eligible business expenses for self employed workers here
Self employment expenses (pdf)
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