Running your own business brings new opportunities and challenges — and filing your income tax is no exception. At Momentum Accounting CPA Professional Corporation, we help sole proprietors manage their tax obligations with accuracy, compliance, and peace of mind.
Whether this is your first year filing as a business owner or you’ve been operating for years, our team provides clear, professional guidance to ensure your taxes are filed correctly and optimized for every allowable deduction. We proudly serve clients locally in Hamilton and Toronto, as well as across Canada and worldwide, through secure remote and virtual tax filing services using CRA-approved software.
Self-employed individuals, including sole proprietors, have different filing deadlines than most taxpayers:
Our CPA team ensures your return is filed accurately and on time, avoiding costly penalties and interest.
Sole proprietors do not file a separate business tax return. Instead, all business and personal income is reported together on your T1 General Income Tax Return.
Our licensed CPAs ensure your business income and expenses are reported correctly and maximize your eligible deductions.
As a sole proprietor, you may be able to claim a wide range of legitimate business expenses, such as:
All expenses are recorded on Form T2125 and deducted from your gross business income, resulting in your net business income or loss.
At Momentum Accounting CPA Professional Corporation, our mission is to help sole proprietors and self-employed individuals reduce tax burdens, meet compliance requirements, and keep more of their hard-earned income.
Whether you’re located in Hamilton, Toronto, or anywhere in Canada, our team is ready to provide trusted tax solutions — in person or virtually.
📞 Contact us today to learn how we can assist with your sole proprietorship tax preparation, planning, and compliance.
