Small Business Income and Expenses Checklist
The following is a list of Business Income to provide / include:
Gross receipts from sales or services (and advise if includes or excludes HST)
Sales records
Business chequing/savings account interest
Other Income
The following is a list of Operating Expenses that may be eligible to be claimed:
Advertising
Advertising
Email / Messaging Expenses
Promotional Material
Website Expenses
Business Meals and Entertainment
Business Start-Up Costs
Business Tax, Fees, Licenses and Dues
Business-Use-Of-Home Expenses
Percentage Use of Home for Business
Home Insurance
Property Taxes
Repairs, Maintenance and Cleaning Services
Utilities:
Gas/Heat
Hydro
Water
Yard Maintenance / Snow Removal
Delivery, Freight and Express
Liability and Commercial Insurance
Interest and Bank Charges
Legal, Accounting and other Professional Fees
Maintenance and Repairs
Management and Administration Fees
Motor Vehicle Expenses:
Make, Model and Year of Vehicle
The Kilometres You Drove in The Tax Year to Earn Business Income
The Total Kilometres You Drove in The Tax Year
Business Parking Fees
Gas
Interest If You Are Financing Your Vehicle
Insurance
Leasing Cost If You Are Leasing Your Vehicle
Maintenance and Repairs
Other Expenses (e.g., 407, CAA; please specify)
Office Expenses, including:
Computer Hardware
Computer Software
Courier
Office Supplies
Postage
Stationery
Other Business Expenses
Property Taxes
Rent
Salaries, Wages and Benefits (Including Employer's Contributions)
Supplies
Utilities:
Cell Phone
Internet
Landline
Other Utilities
Travel Expenses
If you are unsure if an expense is eligible to be claimed, include it and we will review it and let you know.
More information about these expense deductions can be found on the Canada Revenue Agency (CRA) website here: