topic My return is going down as I add small business deductions. As small business owners are we obligated to report expenses? in Self-employed https://turbotax.community.intuit.ca/community/self-employed/discussion/my-return-is-going-down-as-i-add-small-business-deductions-as-small-business-owners-are-we-obligated/01/3681086#M17120 Sun, 04 May 2025 01:45:16 GMT larkinds 2025-05-04T01:45:16Z My return is going down as I add small business deductions. As small business owners are we obligated to report expenses? https://turbotax.community.intuit.ca/community/self-employed/discussion/my-return-is-going-down-as-i-add-small-business-deductions-as-small-business-owners-are-we-obligated/01/3681086#M17120 Sun, 04 May 2025 01:45:16 GMT https://turbotax.community.intuit.ca/community/self-employed/discussion/my-return-is-going-down-as-i-add-small-business-deductions-as-small-business-owners-are-we-obligated/01/3681086#M17120 larkinds 2025-05-04T01:45:16Z Re: My return is going down as I add small business deductions. As small business owners are we o... https://turbotax.community.intuit.ca/community/self-employed/discussion/re-my-return-is-going-down-as-i-add-small-business-deductions-as-small-business-owners-are-we-o/01/3682642#M17142 <P>No, you don't have to claim expenses against your Self-Employment income.&nbsp;</P> <P>&nbsp;</P> <P>The likely reason why your Self-Employment expenses are reducing your tax refund is because they are reducing your income to below the level needed to qualify for the Canada Workers Benefit (CWB).</P> <P>&nbsp;</P> <P><IMG src="https://lithium-response-prod.s3.us-west-2.amazonaws.com/turbotax.response.lithium.com/RESPONSEIMAGE/9d401af3-ea54-4231-8323-60119a859b68.default/SM%20SAY%20THANKS%203.png" /></P> Fri, 09 May 2025 15:01:06 GMT https://turbotax.community.intuit.ca/community/self-employed/discussion/re-my-return-is-going-down-as-i-add-small-business-deductions-as-small-business-owners-are-we-o/01/3682642#M17142 TurboTax_Susan 2025-05-09T15:01:06Z