No, TurboTax Self-Employed is only for filing tax returns with self-employment income. If your business is incorporated, you need to prepare a personal return (T1) for yourself as well as a separate corporate return (T2) for your business. We recommend TurboTax Business Incorporated for your corporate return, and a TurboTax Online solution for your personal return.

You can connect to a live TurboTax Expert at any point during your tax return and get the answers you’re looking for to make sure your taxes are done right. Ask as many questions as you like about your taxes, we’re here to help. We’ll make sure you get to claim every possible deduction and keep more of your hard-earned money. Whether you’re a sole proprietorship, small business owner, independent contractor, or even running a side gig, our TurboTax Experts can help you out.

We’ll help you navigate through forms like T2125 and T4As, so you never feel stuck. We’ll also help you find ways you can potentially reduce the income tax you pay on business earnings. We will also help you file both your business and income tax return together and do a final review for you. We are NETFILE certified, which means you can submit your return to the Canada Revenue Agency (CRA) safely and securely. You can also take advantage of our expense calculator to maximize your tax savings by estimating your business expenses.

Absolutely. TurboTax Self-Employed is the right choice for those who need to file employment income and self-employment income.

For sure! TurboTax Self-Employed includes an expert business interview that asks you straightforward questions to help you uncover every credit and deduction you deserve.

TurboTax Online runs in most current web browsers. For details, please see our TurboTax Online system requirements FAQ.

Yes! Our TurboTax Online editions are perfect for Mac users because they run in the web browser of your choice.

TurboTax supports all provinces (and territories!). All editions of TurboTax include all the forms and schedules you need to complete and file your federal and provincial returns via NETFILE and NetFile Québec.

GST/HST activities are reported on a GST/HST return. Some information from your GST/HST return is used on your tax return so it’s a good idea to complete the GST/HST return first. For step-by-step guidance on GST/HST returns, visit CRA’s webpage. Also, if you choose to get your taxes done by a tax expert (through TurboTax Live Full Service Self-Employed), they’ll do your GST/HST return for free!

TurboTax Self-Employed calculates your Canada Pension Plan (CPP) contributions that are due based on the net income from your self-employment. In many cases, the CRA requires instalments based on your tax owing in a three year period. But, for newly self-employed individuals, instalments aren’t necessary. Consider opening a separate bank account to set money aside for tax time.

Yes. TurboTax Self-Employed includes all the forms and schedules you need to claim every credit and deduction you qualify for.

It depends on your situation, but a good benchmark is to set aside 25% of your business’s income for your self-employment taxes.

Everything from office supplies to vehicle costs can be written off, providing the expense is related to your business, you have the supporting documentation and the expense is reasonable. View CRA’s full list here.

Side gigs, freelance work, and contract payments are all forms of income that need to be reported on your tax return. If you’re carrying on some form of business activity, report it – even if you’re not profitable yet.

One of the most useful features of QuickBooks Self-Employed is accessing mileage reports. Use the top left gear icon and in your settings click on ‘Reports’ then select ‘Mileage Log’. This report shows the business and personal kilometers you drove, including purpose, deduction amount and how you logged them.

Yes! Check out our Self-employed Expenses Calculator to estimate the impact your business expenses could have on your tax return.

To stay current with all the latest news and tips for small business owners, check out our TurboTax blog.