Business Tax Filing & Tax Forms

To report your business income and expenses, you can complete either one of the following forms:

http://www.cra-arc.gc.ca/E/pbg/tf/t2125/README.html (Form T2125, Statement of Business and Professional Activities)

• This form used to calculate your income from professional activities using the same rules as for a business. However, some aspects of professional activities are different from those of other types of businesses.

You have to complete a separate form for each business or professional activity you operate. For more information, see IT206, Separate Businesses.

For further topics for reporting your business income and expenses like:

• Completing Form T2125 - Statement of Business & Professional Activities
• Getting Form T2125 - Statement of Business & Professional Activities
• Industry codes - Industry codes list to be used when completing the form T2125
• Capital cost allowance - How to deduct the cost of capital property over the years
• Eligible capital expenditures - Definitions, calculations, election and replacement property
• Important Dates - Due dates for filing your returns and making your payments. Establishing a fiscal year-end and calculating installment payments.
• Penalties
• Other Forms and Publications

Click CRA link: CRA Reporting your business income and expenses