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Business Tax Filing & Tax Forms

To report your Business or Professional Income and expenses you will need to complete Form T2125. This form has a section for business activities such as a store or repair shop, and another section for Professional activities such as an accounting practice.

Form T2125, Statement of Business and Professional Activities

You have to complete a separate form for each business or professional activity you operate. For more information, seeIT1206R, 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

Tax Education