As a Sole Proprietor, Your Taxes Are

question 5

Multiple Choice

As a sole proprietor, your taxes are:

• A) More complex, compared to a corporation.
• B) Declared on a separate form provided by Revenue Canada.
• C) Fairly simple, since your business income is declared on your personal tax return.
• D) Paid in installments throughout the year, but keep separate from your personal employment income.

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Definitions:

In-Flight Magazines

Publications specifically designed to be read by passengers during flights, often containing travel articles, advertisements, and entertainment options.

Convention Attendees

Individuals who participate in or attend conferences, conventions, and trade shows related to specific industries or interests.

Special Discount

A temporary reduction in the price of goods or services, often used as a promotional tactic to increase sales.

Facilitating Relationships

Efforts made by businesses to support and enhance interactions among consumers, suppliers, and other partners for mutual benefit.