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New Member
posted May 5, 2021 3:11:44 PM

How should I report an income from a consulting service?

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1 Replies
Level 3
May 25, 2021 11:17:21 AM

Thank you for your question.

 

If you have expenses that you incurred to make this income, you may be better off considering yourself self-employed, as that will allow you to claim the expenses against your taxes owed on the income. To claim self-employment income, you must fill out a form T2125 - Statement of Business Activities.

 

To fill the form out, click on Income, then on self-employed. You will go page by page, then you will see the form T2125.

 

If you have any questions, please contact us.