While managing taxes for business in Canada, it is important to have a clear understanding of different tax forms and provisions attached to them.
One of such is T2125 form which plays a important role in reporting business income and expenses.
T2125 is Statement of Business or Professional Activities. T2125 is a tax form designed by CRA for selfemployed individuals and sole proprietors in Canada to report their business expenses and income.
It is important part of personal income tax return and help to calculate net income from business operations.