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New Member
posted May 26, 2020 7:22:10 PM

I have a t4 with the box filled in for "self employed income" Can I take advantage of more deductions as a result?

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1 Replies
Moderator
May 31, 2020 10:25:05 AM

Yes, you may be able to claim expenses that you had to earn that income.

 

If you need to find out what your industry code is, which you can look for here: https://www.statcan.gc.ca/eng/subjects/standard/naics/2017/v3/index

 

We have a video on YouTube that goes through preparing a Self-Employed return: https://www.youtube.com/watch?v=NzszSEVEv-U

 

If you have TurboTax Live Assist & Review, here is how to talk to a Tax Expert: https://turbotax.community.intuit.ca/community/navigating-turbotax/help/i-m-using-turbotax-live-assist-review-how-do-i-talk-to-a-tax-expert/00/873764