taxes

Do you earn money working from home? Whether you are self-employed or an employee, if you meet conditions laid out by Canada Revenue Agency, you may be able to deduct some of your housing operating costs against income earned.

If you have a home-based business and/or operate a business without being incorporated, the Canada Revenue Agency (CRA) considers you to be self-employed or a sole proprietor.

You will be reporting your income by recording it on lines 135 to 143 of the T1 General Form.

To determine your income you will need to complete Form T2125 titled Statement of Business or Professional Activities. If you have more than one business, you will need to fill out a T2125 for each one.