Self-Employed Tax Services in Toronto
If you are self-employed in Toronto, you are responsible for reporting your income, tracking expenses, and filing taxes correctly with the CRA.
At Bronte Bay, we help:
- Freelancers
- Uber and delivery drivers
- Small business owners
Manage their taxes, reduce liability, and stay compliant.
What is Self-Employment in Canada?:
You are considered self-employed if:
You earn income without an employer
You provide services or sell goods independently
- Freelancers
- Contractors
- Uber drivers
👉 Your business income is reported on your personal tax return (T1) using Form T2125
How Self-Employed Taxes Work
Business Incorporation
As a self-employed individual, you must pay:
- Income Tax: Based on your total profit
- CPP Contributions: Mandatory Higher than employees
- HST (if applicable) : Required if revenue exceeds $30,000
Common Mistakes Self-Employed People Make:
- Not tracking expenses
- Missing HST registration
- Mixing personal and business finances
- Filing late
Tax Deductions You Can Claim
- Vehicle expenses
- Home office
- Phone & internet
- Business meals
- Software subscriptions
Why Hire an Accountant for Self-Employed Taxes
Managing taxes yourself can lead to:
- Overpaying tax
- Missing deductions
- CRA penalties
Managing taxes yourself can lead to:
- Accurate filing
- Maximum savings
- Full compliance
Tax Deductions You Can Claim
- Affordable pricing
- Specialized in self-employed clients
- Fast and reliable service
- Personalized tax strategies
Frequently Asked Questions
It depends on your income, but you must pay income tax plus CPP contributions.
Yes, if your income exceeds $30,000 annually.
Yes, but many people miss deductions and overpay taxes.
June 15 to file, but taxes owed must be paid by April 30.