Yesterday we discussed starting a home business as a sole proprietorship. Today we’ll go through how to claim your income and expenses come tax time.
All business income and expenses are claimed on a T2125 form. You enter your income into “Part 1 – Business Income”. Since you just enter one number for the entire year, [...]
The Canadian Source For Personal Finance
Monthly Archives: March 2009
Claiming Business Income And Expenses
Starting A Home Business
Starting a part-time home business can be a great way to supplement your regular income and provide you with some tax opportunities.
A home business could be almost anything that gives you an expectation of earning income. Most ideas would fall under either selling a product or service. Your business could be fixing computers or selling [...]
Friday Links
The Financial Blogger gives us 3 reasons why you should not do market timing.
Thicken My Wallet asks if dividend decreases signal the beginning of the end?
The Canadian Tax Blogger made a guest post on Million Dollar Journey on the Smith Manoeuvre and filing income tax.
Financial Highway explains what bonds are.
The Digerati Life shows us budgeting tips for successful [...]
How To Setup and Rebalance TD e-Series Funds
There is a bit of effort you need to put in to invest in TD e-Series Funds, but it is worth it. First of all, you need to apply using the pdf available on the TD Canada Trust website.
The Account Application is pretty straightforward. You’ll need to provide information like your name, SIN, date of [...]
TD e-Series Funds
TD e-Series Funds may be the simplest way for someone to invest in a diversified portfolio with low Management Expense Ratios (MERs). Below are the four funds that you can use to build a rather complete portfolio and would work well for regular contributions into an RRSP or RESP.
TD Canadian Bond Index tracks the performance [...]
How To Negotiate A Deal
Whether you are buying a car, appliance or TV, if you know how to negotiate you can likely pay less. Many people don’t like to negotiate, but the majority of the time you can get a better deal by simply asking for it.
Research the item in advance. Are there better deals online? Will another store [...]
10 Ways To Reduce Your Heating Bill
Did you look at your heating bills this winter and think you better do something to lower the amount you pay next year? Here are 10 ways that you can reduce your heating bill.
By setting your thermostat to 20 degrees, you can reduce your heating bill by 5% to 10%.
Reducing your heat by 4 to [...]
-
SUBSCRIBE AND FOLLOW
