Self-Employed / T2125

Self-employed tax starts with better business records.

From invoices and costs to a Canadian T1 business-income schedule you can review.

In short

What this means

Rybair can prepare a Canadian T2125 business-income schedule within an agreed T1 engagement for consultants, contractors, sole proprietors and side businesses. We organize the income and expense evidence first, identify gaps and confirm the year and filing responsibilities before preparation.

Connect income and costs to their sources

Invoices, payment deposits and client records should be compared rather than assumed to agree. We organize business expenses and the supporting documents available, distinguish personal from business activity and list items needing clarification before the return is reviewed.

Sales, invoices and payment records for the year
Business expenses and supporting receipts
Reconciled accounts or a documented list of differences
Owner questions and unresolved items for review

Catch up the books when records are behind

If records are incomplete or mixed with personal spending, we can first assess a separate bookkeeping cleanup. The tax scope should not hide the time needed to reconstruct transactions, reconcile accounts or obtain missing support.

Consider GST/HST separately where applicable

GST/HST records and filing may connect to the same sales and expenses, but are not automatically included in T2125 preparation. We assess registration, periods, records and jurisdiction before agreeing any separate GST/HST work; payroll is not assumed for a sole proprietor.

Let the financial workflow grow with the business

Recurring bookkeeping can turn the year-end scramble into a monthly close with visible receivables, costs and cash. If you are considering a different business structure, we can organize the financial records for a discussion with an appropriate legal or tax professional; incorporation and legal advice are not offered here.

Agree review, approval and filing

We confirm the tax year, what the T1 and T2125 scope includes, how questions are resolved and who approves the completed return. Electronic filing is not represented as operational until the applicable setup is active. Complex or unusual matters are assessed before acceptance.

Questions

Frequently asked questions

Is T2125 part of my personal return?

Yes, the business-income schedule is considered within a Canadian T1 engagement. We confirm the scope and year before preparation.

Can you help if my books are not up to date?

We can assess the gaps and propose separately scoped catch-up or cleanup work before preparing from the resulting records.

Does this include GST/HST or payroll?

Neither is automatic. GST/HST is assessed as a separate filing scope where applicable, and payroll only if your business actually has relevant employees or obligations.

Can you incorporate my business?

No incorporation or legal service is offered here. We can help organize financial information for a discussion with appropriate advisors.

Service scope, access, responsibilities and delivery dates are agreed in writing. Tax, payroll and jurisdiction-sensitive work is assessed before engagement; assurance and legal services are not included.

Bring the business records into focus before filing.

A short consultation is enough to understand your systems, your deadlines and where the friction is. No obligation, no pressure.

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