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Getting started
You will claim the invoiced amount as income. Then get the offsetting deduction by claiming what "you" paid for as expenses. Don't forget to claim the GST collected as well.
Please review the links provided below from TurboTax for further assistance:
- Tax Deductions for the Self-Employed
- The Complete Guide on Collecting GST/HST for Self-Employed Canadians
- T2125 Tax Form: Declare income and expenses from a business or profession
- Where do I claim my employment expenses
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January 31, 2020
10:43 AM