With tax season quickly approaching, it’s time for Canadians to start organizing their receipts, invoices and financial records in preparation of the April 30th deadline to file income taxes. If you’re self-employed, you actually have a little more time to prepare. Self-employed individuals (and their spouses) have until June 15th to file with the Canadian Revenue Agency. Just keep in mind any tax balance owing from previous years is still due on or before April 30th.
But just because you have some extra time to file doesn’t mean you should delay getting started on your paperwork. As a self-employed person in Canada, you benefit from a number of potential tax deductions not available to your 9-to-5 salaried counterparts. Why not use this extra time to prepare and take full advantage of them?Read More