AlCat
New Member

I am a consultant for a financial company with expenses such as auto, home office, insurance, fees, etc. How do I incorporate the T2125 form?

The program always bring up the T707 form that is not valid.

taxnano
New Member

Self-employed

Did you incorporate or is your practice is a sole proprietorship?
rhino2
New Member

Self-employed

I will assume you meant the T777, Statement of Employment Expenses, as there is no T707.
Further to @taxnano's question, if you are not incorporated, are you self-employed or an employee with vehicle and home-office expenses? (I.e. do you receive a T-slip from the financial company?)
Sally71
New Member

Self-employed

@Rhino, it says T2125 which is for self employed professionals.
@AlCat This would be for non incorporated businesses.  See the guide for non incorporated professional income http://www.cra-arc.gc.ca/E/pub/tg/t4002/README.html
rhino2
New Member

Self-employed

@Sally7, if EasyStep is giving him the T777, that may be what he needs unless he answered questions incorrectly. That is what I am trying to clarify.
AlCat
New Member

Self-employed

Many of you have been very helpful with vague detail to go on. Thanks, I used Forms and selected T2125 and ignored T777. Cheers / all is good and filed.
Sally71
New Member

Self-employed

You need to claim your tax return as self employed, complete each field with the income and expenses.  This will generate the T2125 form.

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AlCat
New Member

Self-employed

Thanks. I have checked 'self employed'; however, I'll go through that section again.
Sally71
New Member

Self-employed

The T2125 form will be generated with your copy of the tax return in PDF format.  I highly suggest you to keep a copy of the tax return and additional forms for yourself.
Sally71
New Member

Self-employed

@AlCat  I am glad to see that you are able to understand your tax return, and you have the selected to correct answer if you are self employed with professional income. It never hurt to double check your answers over and over again.