Music part-1: How to prepare business taxes for self-employed individuals. Hi, my name is Alan Madden, a format and chartered accountant. Today, I will show you how to complete Form T2125, the statement of business activities. This video is meant for self-employed individuals who would like to complete their tax return independently. In part one of this two-part series, I will provide a general overview of completing the form. In part two, I will focus on specific sections including home office expenses, vehicle expenses, and capital cost allowance. Completing the identification area: - Enter the following information: - Your name - Your social insurance number - The name of your business - If you operate it under a name other than your own, write it here - If you have a business number issued by the CRA, enter it here - Enter the address of the business - Enter the start date and end date of the business's tax year (generally from January 1st to December 31st) - If this is your first year of business, enter the date on which your business commenced - Indicate whether the 2016 year was the first year of your business (in this example, I'm assuming the answer is no) - Write a description of the main product or service that you are selling (in this example, I'm assuming Trump Wigs sells yellow wigs) In part one of the form: - Enter the total sales for the current year (let's assume Trump Wigs had total sales of $300,000, before GST or HST) In part four of the form: - Enter the cost of goods sold during the year (let's assume Trump Wigs purchased inventory worth $100,000 from its supplier and sold all of it during the year. Trump Wigs...
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Small business tax s 2024 Form: What You Should Know
Form S Corporation β IRS Form 1031. Please click on the link below for Form 1031. Form 1031. (Instructions for complete, use this PDF.) Β Form 1099, Profit Sharing Payment to a Corporation. Form 1099-K β Profit Sharing Payments. (Instructions for complete and use this PDF.) Forms for Estate Tax & Gift Tax. Please click on the link below for Estate Tax and Gift Tax Forms. Forms. Request for Certificate or Declaration of Exemption of Exempt Organization. Form 2553. (Instructions for complete and use this PDF.) Paid Parental Leave Tax. Tax Form 3429 β Paying Tax Withholding to Pay for Paid Parental Leave. Forms for State and Local Corporate Income Taxes β IRS State Corporate Income Tax Return and Publication, (Form 740). Form 740. (Instructions for complete and use this PDF.) Business Tax Forms for Florida Business Taxes Business Income Tax Return β Florida Department of Economic Opportunity, Division of Information Resources. Business Tax Forms β Department of State Form 1023 (Form of Election) β Business Entity or Partnership. Β Form 1041 β Individual and Business Income Tax Return. Form 1040. (Instructions for complete and use this PDF.)Β Forms for Corporation Returns. Please click on the link below for State of Florida Corporation or Partnership corporation or LLP returns. Β Forms. Form 928, Statement of Changes to a Business Entity or Partnership. Form B Corporation β Florida Department of Economic Opportunity. Forms, Schedule C β 2024 Income Tax Return. Form 1099. (Instructions for complete and use this PDF.) Taxpayer Assistance Program (TAP) Form 2106, Personal Information Exchange, (PIE). Form 2106, Personal Information Exchange. (Instructions for complete and use this PDF.) Form 704 β Foreign Profit or Loss. Form 704 (Payment Obligations). (Instructions for complete and use this PDF.) Payments. (Instructions for complete and use this PDF.) Form 949 (Statement of Changes to a Business Entity). Form 837 β Foreign Currency Transaction and Other International Sales and Use Tax Returns. Form 837 β Foreign Currency Transaction (IRS Form 8801) β Foreign Income Tax Return. Form 837 β Foreign Currency Transaction β Foreign Income Tax Exclusion Return.
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