# Taxes for sole proprietorship



## lvteos234 (Oct 2, 2010)

Hello, Have a question about doing taxes for sole proprietorships. Will the software packages available on the market be able to handle them or would an accountant be necessary?

For those who have sole proprietorships beside their employment income, how do you typically do your taxes

Thanks


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## MoneyGal (Apr 24, 2009)

Every basic tax prep package should include the form you need, which is T2125. 

http://www.cra-arc.gc.ca/E/pbg/tf/t2125/

I've had sole proprietorship income since 1992, and I've always used basic tax prep software to complete my returns.


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## sharbit (Apr 26, 2012)

lvteos234 said:


> Hello, Have a question about doing taxes for sole proprietorships. Will the software packages available on the market be able to handle them or would an accountant be necessary?
> 
> For those who have sole proprietorships beside their employment income, how do you typically do your taxes
> 
> Thanks


This depends on what the business does. If its basic consulting with only a few expenses you'll be fine. If inventory or employees contribute a large part to your expenses or you have international income and you've never dealt with this before you may want to look at getting an accountant.


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