Self-Employed Taxes
If you receive any remuneration for services or products you provide and are not an employee, you are self-employed. Such an income can be earned from a business that you solely own or share partnership with. Self-employment income must always be reported on your personal income tax return (T1) and never in your employment income.
A person can report their business income based on a fiscal period, typically around December 31st (year-end). You can deduct expenses made throughout the fiscal year as long as the expenses were directed towards income earning. It is therefore pertinent that you maintain proof of your self-employment expenses to support your claims and avoid tax penalties.
A self-employed person should pay any outstanding taxes before April 30th.
Self-employed taxes should be submitted to Revenue Canada before June 15th.
Our tax professionals are prepared to handle all your tax filing so that you can devote more time and energy into the growth of your business. We will try our best to make sure that all of your expense claims do not result in unnecessary tax audits.
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We have used V-Tac Accounting Services for the past couple of years and have found their staff to be patient and trustworthy. They always answer all of my questions and keep me organized.
Josef Karol, Dairy Dell Bar & Grill Inc
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I have many friends always complaining about how dissatisfied they are with their accounting services. Luckily, this has never been the case for me. I am always happy with V-Tac’s services because they are honest and take proper care of my taxes.
Greg Dengis, Dengis Construction Ltd
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One of the main issues I had with previous firms was time constraint. With V-Tac, however, I developed an immense amount of trust in their services because they’re always dependable. I would definitely recommend their services to anyone.
Israel Weinstock, Doar Mailing Services Inc
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We have been working with V-Tac Accounting and Services for many years. They have saved us money in taxes by carefully analyzing our files and delivering the highest standard of service quality. We are always impressed.
Fesih Z Mert, Maple Stucco & Wall System
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The services rendered by V-Tac are consistently efficient. They give me the freedom to focus on the needs of my company and my clientele. I look forward to continuing my professional relationship with them in the years to come.
Richard Holyoke, Holyoke Stone Works Inc
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V-Tac’s strong technical knowledge, expertise, and integrity are incomparable. My family and I trust their professional staff with both our business and personal finance issues. We intend to continue being their faithful customers.
Gustavo Cruz, Surnet Communications Inc
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V-Tac has consistently advised with us creative business solutions and effective tax strategies to boost our profit and growth. They are resourceful and always willing to provide well-researched solutions.
Aref Zahed, Zayn Media Inc
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I have been a long time customer of V-Tac Accounting and Professional Services. During this time, I have experienced useful tax advice that I trust and benefit from.
NCSC Inc, Aijaz Muhammad
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I like using V-Tac’s services because they always deliver practical solutions to complex financial issues. They prioritize my business interests, which assures me that my finances are in good hands.
Reid, Full Truth Church of God Deliverance
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For once, I am happy that my personal taxes were filed correctly and did not result in me being audited. V-Tac’s services are fast, reliable, and most of all professional.
Danniel Lewis, Dann Service Corporation
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The staff at V-Tac have always been courteous and competent in delivering all the necessary work in a timely manner. I have come to rely heavily on their business solutions and knowledge while taking advantage of their tax/ accounting advice to further my financial goals.
Enver Coovadia, J W Car Care
