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Where can I find a list of what expenses I can claim for my own business?
I have a bake to order pet treat business that I started in September. Can I claim hydro, groceries used, gas for going to sell at markets etc.?
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Self-employed
Are you using TurboTax Online or Desktop?
You can deduct some expenses for heat, electricity, insurance, maintenance, mortgage interest (or rent), property taxes and “other expenses.” This must be proportionate to the actual space that you are using in your home for your business.
If you are self-employed, you must declare these expenses in the self-employed section.
- If you are using TurboTax Online, it will be under your Self-employment section (from 2024 tax return on the left menu)
- If you are using TurboTax Desktop, in EasyStep mode, it will be under self-employment section (in the left side menu)
- In Forms mode, it will be in a T2125 B form.
Here a link that can help you:
Self-employed Business, Professional, Commission, Farming, and Fishing Income: Chapter 3 – Expenses
Thank you for choosing TurboTax.
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