Business Taxes

Business Taxes Tel: 514-562-9971 email:

To do your Business taxes all your BUSINESS INCOME & EXPENSES have to be determined.

Business Income- For the period January- December

  • Break down revenues by source

  • Do not include GST/PST if you are a GST/PST registrant

  • Include any interest earned in your business, if not on a T5

  • Include any fee’s charged to customers for NSF fee’s

  • Include and reimbursed expenses such as utilities, motor vehicle mileage, meals

Business Expenses - required information

  • Accounting and Legal (Statement of accounts/invoices)

  • Advertising (Receipts)

  • Business meals (Receipts with names and business nature noted)

  • Business Taxes (Business tax statement)

  • Bank charges (Summary from bank statements)

  • Bank loan interest (Loan statement, terms or letter from bank)

  • Convention expenses (Receipts, explanation of business purpose and summary of meals included in cost or number of days at convention)

  • Dues, fees from business related organizations

  • Motor vehicle-Log of business usage and total usage of each automobile used in the business and receipts of gas & oil and receipts for any repairs to the motor vehicle and registration and insurance costs. Any lease agreement

  • Office supplies and other office expenses (Receipts)

  • Telephone, cable, internet connections (Statements and percentage used for business)

  • Other in home office costs: -Rent, Repairs, Insurance

    • State size of office area and total sq footage. Property tax assessment. Rental or lease agreement. Receipts and nature of repair to business. Insurance statement.

  • Purchases goods for resale (Receipts, also include cost of ending inventory of the goods at year end.

  • Capital additions.