Line 10400 on Your Tax Return: Other Employment Income Explained
Most Canadians know their T4 slip covers their employment income. What fewer people realize is that there is a separate line on the T1 return specifically for employment income that never appears on a T4 at all. Line 10400, labelled Other Employment Income, is one of...
Incorporating in Canada: What It Actually Costs and Whether It’s Worth It
Every year thousands of Canadian sole proprietors and freelancers ask the same question: should I incorporate? The answer depends on where your business is, where it’s going, and whether the benefits outweigh the added costs and obligations. This post breaks...
Line 15000 on Your Tax Return: Total Income Explained
Line 15000 on your tax return in Canada is your total income for the year, every dollar earned from every source, combined into one figure. It is not limited to employment income alone. It captures self-employment earnings, pension payments, rental income, investment...