Self-Employed & Freelancer Tax Returns
Comprehensive Tax Filing for Self-Employed Individuals & Freelancers in North Vancouver, BC
If you are self-employed, a freelancer, or an independent contractor, you are responsible for reporting your business income and expenses on your personal tax return. Unlike employees who receive T4 slips, self-employed individuals must file a T2125—Statement of Business or Professional Activities—to declare their earnings and deduct eligible business expenses.
At Westview Accounting & Tax Services Inc., we specialize in self-employed tax return preparation in North Vancouver, BC, ensuring you maximize deductions, comply with CRA regulations, and reduce your taxable income.
Who Needs to File a Self-Employed Tax Return?
Freelancers & Contractors
If you earn income through consulting, writing, graphic design, IT, photography, marketing, or any gig-based work, you must report it.
Sole Proprietors & Small Business Owners
If you operate an unincorporated business, your income is reported on your personal tax return (T1) using the T2125 form.
Commission-Based Workers (T4A)
If you receive T4A slips for commissions or contract payments, you are considered self-employed.
Online Sellers & E-Commerce
If you earn money from dropshipping, Shopify, Amazon FBA, Etsy, or digital product sales, you must report your business income.
Ride-Share & Delivery Drivers
Self-employed drivers must file taxes and track mileage, vehicle expenses, and service fees.
Content Creators & Influencers
If you earn revenue from YouTube ads, sponsorships, affiliate marketing, or social media brand deals, this is taxable income.
Tip: Multiple self-employment incomes must be tracked separately but reported together on your return.
How Does Self-Employment Tax Work?
Self-employment income is taxed as personal income in Canada, meaning sole proprietors report business earnings on their T1 Personal Income Tax Return rather than filing as a corporation. As a self-employed individual, you're also responsible for both the employer and employee portions of CPP (Canada Pension Plan) contributions. If your annual revenue exceeds $30,000, you must register for a GST/HST number (Form RC1) and charge the applicable sales tax. Additionally, if you owe more than $3,000 in taxes, the CRA may require you to make quarterly tax installment payments (Form INNS1). Without proper planning, self-employed individuals can face steep tax bills—making it essential to track expenses and claim all eligible deductions.
What Business Expenses Can Self-Employed Individuals Deduct?
Home Office Expenses
If you work from home, a portion of your rent/mortgage, utilities, and internet can be deducted.
Vehicle Expenses
If you drive for business, you can claim gas, maintenance, insurance, and mileage costs.
Advertising & Marketing Costs
Expenses for website hosting, social media ads, business cards, and branding are fully deductible.
Office Supplies & Equipment
Computers, software, office furniture, and tools used for business can be written off.
Professional Fees & Business Services
Accounting, legal, and consulting fees are deductible business expenses.
Travel & Meal Expenses
Business-related travel, accommodations, and meals (up to 50%) can be claimed.
Employee & Contractor Payments (T4/T4A)
If you hire staff, salaries and subcontractor payments are deductible.
Insurance Premiums
Business liability insurance and self-employed health insurance may be tax-deductible.
Business Loan & Interest Expenses
Interest on business loans, credit lines, and business-related credit cards is deductible.
Tip: Claiming all eligible deductions reduces taxable income and lowers your tax bill.
What Business Expenses Can Self-Employed Individuals Deduct?
Home Office Expenses
If you work from home, a portion of your rent/mortgage, utilities, and internet can be deducted.
Vehicle Expenses
If you drive for business, you can claim gas, maintenance, insurance, and mileage costs.
Advertising & Marketing Costs
Expenses for website hosting, social media ads, business cards, and branding are fully deductible.
Office Supplies & Equipment
Computers, software, office furniture, and tools used for business can be written off.
Professional Fees & Business Services
Accounting, legal, and consulting fees are deductible business expenses.
Travel & Meal Expenses
Business-related travel, accommodations, and meals (up to 50%) can be claimed.
Employee & Contractor Payments (T4/T4A)
If you hire staff, salaries and subcontractor payments are deductible.
Insurance Premiums
Business liability insurance and self-employed health insurance may be tax-deductible.
Business Loan & Interest Expenses
Interest on business loans, credit lines, and business-related credit cards is deductible.
Tip: Claiming all eligible deductions reduces taxable income and lowers your tax bill.
How Westview Ensures a Smooth First-Time Tax Filing
Accurate Income & Expense Reporting
We ensure all self-employment income is properly recorded and eligible deductions are maximized.
T2125 Preparation & Submission
We complete and file the T2125 form (Statement of Business or Professional Activities) accurately.
GST/HST Registration & Remittance Support
If required, we assist with sales tax registration and quarterly filing.
CPP & Tax Installment Planning
We calculate CPP contributions and estimated tax payments to avoid surprises.
Audit Protection & CRA Compliance
We ensure your records are CRA-compliant, reducing audit risks.
Bookkeeping & Tax Planning Support
We offer full bookkeeping services to help you track income and expenses efficiently.
Why Work with Westview Accounting & Tax Services Inc.?
At Westview Accounting & Tax Services Inc., we combine deep expertise with personalized service. Our team takes the time to understand your unique financial situation and offers tailored advice to ensure your return is accurate, compliant, and optimized for maximum refunds. We don’t just file your taxes—we help you plan smarter for the future. Whether you’re a newcomer, business owner, or retiree, you can trust us for clear guidance, strategic savings, and peace of mind all year long.
Experienced accountants
Transparent, upfront pricing
Professional review of all tax documents
Personalized advice for your financial goals
Convenient online or in-person filing options
Maximize Your Tax Savings & File Your Self-Employed Taxes the Right Way!
Filing taxes as a self-employed professional or freelancer requires careful income reporting and expense tracking. Let Westview Accounting & Tax Services Inc. handle your T2125 tax filing, ensuring your return is accurate, compliant, and optimized for tax savings in North Vancouver, BC.
Westview Accounting provides trusted accounting, tax, and bookkeeping services across North Vancouver and Surrey. We help individuals and businesses stay compliant, informed, and financially confident.