Can I file taxes as sole proprietor instead of corporation. I incorporated my business a little more than a year ago but want to file as sole proprietor for the period.
Can I file taxes as sole proprietor instead of corporation. I incorporated my business a little more than a year ago but want to file as sole proprietor for the period.
I had incorporated my business a little more than a year ago under the business name with physical location but didn't file anything yet. After all the considerations, I've decided to close the business down and operate from home. Can I file the dissolution of the business at the registry and file taxes as sole proprietor for the time I've operated the business? Hiring an accountant to file taxes will be too much for the money I made that I don't think I'm not even required to file GST.
Can I file taxes as sole proprietor instead of corporation. I incorporated my business a little more than a year ago but want to file as sole proprietor for the period.
As we are unable to advise you on how to go about filing this, you should really contact CRA and explain your situation. As the liability and tax filing rules for Corporations and Sole Proprietorships are vastly different, and CRA expressly says "Corporations must file a T2 return", you will likely have to complete at least one T2 return.
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