Get Canada T2125 2018

The Canada T2125 form is essential for self-employed individuals to report their business or professional income accurately. Completing this form online can streamline your tax filing process and ensure you capture all necessary details.

Follow the steps to accurately fill out the Canada T2125 form online.

1. Click ‘Get Form’ button to access the T2125 form and open it in your preferred online editor.
2. In Part 1, enter your identification details including your name, social insurance number, business name, business number, and business address. Ensure to input accurate fiscal period dates in the specified format (YYYYMMDD).
3. Indicate if 2018 was your last year of business by selecting 'Yes' or 'No' according to your situation. Specify your main product or service and the accounting method you use — cash or accrual.
4. If applicable, complete Part 2 by entering details about your internet business activities, including the number of web pages that generate income and the URLs of up to five main websites.
5. Proceed to Part 3, where you will fill in either business income (Part 3A) or professional income (Part 3B), depending on your situation. Include gross sales, commissions, or fees and any adjustments required.
6. Continue to calculate your gross business or professional income in Part 3C by summing the adjusted amounts from previous parts.
7. For detailed costs, fill out Part 3D if you have business income, including gross income, inventory, and other costs.
8. In Part 4, report your net income (loss) before adjustments and list all relevant expenses under the specified categories.
9. Complete Part 5 with your final net income (loss). Ensure to check any amounts that may be deductible and complete the calculations as instructed.
10. Fill out Parts 6, 7, 8, and 9 as applicable, providing details on partnership claims, business use of home expenses, and equity details.
11. Finally, review all entries for accuracy. Save your changes, then download, print, or share the completed form as needed for your records.

Start filling out your Canada T2125 form online today to ensure a smooth tax filing experience.