{"id":8570,"date":"2023-10-03T03:52:29","date_gmt":"2023-10-03T03:52:29","guid":{"rendered":"https:\/\/www.ownr.co\/blog\/?p=8570"},"modified":"2024-05-22T18:28:00","modified_gmt":"2024-05-22T18:28:00","slug":"how-to-file-a-t2125-form","status":"publish","type":"post","link":"https:\/\/www.ownr.co\/blog\/how-to-file-a-t2125-form\/","title":{"rendered":"How to File a T2125 Form"},"content":{"rendered":"<p><span style=\"font-weight: 400;\">Brand new to the world of being a self-employed entrepreneur? You&#8217;re not alone. With a new business comes new tax responsibilities\u2014including filing a T2125 form along with the regular T1 (personal tax documents) each year.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The Form T2125 is an important document. It helps the Canada Revenue Agency (CRA) assess how much money you made in your business, along with any expenses incurred while running your business. This information is used to determine your tax return or any money you need to pay in business taxes.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Getting this form correct is important, so here&#8217;s what you need to know about it:<\/span><\/p>\n<h2><span style=\"font-weight: 400;\">What is a T2125?<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">There are a lot of Canadian tax forms out there, so it\u2019s not surprising if you\u2019re not familiar with every one of them\u2014especially if you\u2019re new to <\/span><a href="\&quot;https:\/\/www.ownr.co\/blog\/what-is-entrepreneurship\/\&quot;"><span style=\"font-weight: 400;\">entrepreneurship<\/span><\/a><span style=\"font-weight: 400;\">.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The<\/span><a href="\&quot;https:\/\/www.canada.ca\/en\/revenue-agency\/services\/forms-publications\/forms\/t2125.html\&quot;"><span style=\"font-weight: 400;\"> T2125 Statement of Business or Professional Activities<\/span><\/a><span style=\"font-weight: 400;\"> form is used by sole proprietors or partnerships to report the income they earn from their business in a given tax year.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">If you run a business in Canada and that business is not incorporated, chances are you are considered a sole proprietor or, if you work with one to four more individuals, a partner. This means you are required to file a T2125 as part of your<\/span><a href="\&quot;https:\/\/www.canada.ca\/en\/revenue-agency\/services\/forms-publications\/tax-packages-years\/general-income-tax-benefit-package.html\&quot;"><span style=\"font-weight: 400;\"> T1 tax income package<\/span><\/a><span style=\"font-weight: 400;\">. The T1 General or T1 Income Tax and Benefit Return is what the average Canadian is required to fill out.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The T2125 is a six-page document from the Canada Revenue Agency. There are nine sections that need to be filled out:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Identification<\/b><span style=\"font-weight: 400;\">: Who you are, including your business name, SIN and business number, if you have one<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Internet business activities<\/b><span style=\"font-weight: 400;\">: This needs to be filled out if you have internet business activities that generate an income<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Business and professional income<\/b><span style=\"font-weight: 400;\">: Report all of your income in this section<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Net income (loss) before adjustments<\/b><span style=\"font-weight: 400;\">: Report expenses you incurred while running your business<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Net income (loss)<\/b><span style=\"font-weight: 400;\">: Calculate your final net income or loss for that year<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Other amounts deductible from your share of the net partnership income (loss)<\/b><span style=\"font-weight: 400;\">: Write down any expenses that might not fit into the other two income categories<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Calculation of business use-of-home expenses<\/b><span style=\"font-weight: 400;\">: Calculate how much of your home office expenses is deductible from your business income<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Details of other partners<\/b><span style=\"font-weight: 400;\">: Provide the personal contact information of any partners in your business<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Details of equity<\/b><span style=\"font-weight: 400;\">: Report any debts your business owed at the end of the year, and any personal contributions or withdrawals you made<\/span><\/li>\n<\/ul>\n<h2><span style=\"font-weight: 400;\">Who needs to file a T2125?<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">If you run a sole proprietorship or you are part of a business partnership with five or fewer partners, the T2125 is for you. If you have more than five partners, you\u2019ll need to file a <\/span><a href="\&quot;https:\/\/www.canada.ca\/en\/revenue-agency\/services\/tax\/businesses\/topics\/sole-proprietorships-partnerships\/t5013-partnership-information-return-filing-requirements.html\&quot;"><span style=\"font-weight: 400;\">T5013 Partnership Information Return filing requirements<\/span><\/a><span style=\"font-weight: 400;\">.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">In addition to being a sole proprietor or partnership, you need to have earned income outside of your regular 9-to-5 employment. This includes anything from moonlighting as a<\/span><a href="\&quot;https:\/\/www.ownr.co\/blog\/start-online-business\/\&quot;"><span style=\"font-weight: 400;\"> freelance writer<\/span><\/a><span style=\"font-weight: 400;\">, running a full-time<\/span><a href="\&quot;https:\/\/www.ownr.co\/blog\/how-to-start-a-consulting-business\/\&quot;"><span style=\"font-weight: 400;\"> consulting business<\/span><\/a><span style=\"font-weight: 400;\">, or selling crafts out of the back of your van (if you\u2019re doing the last one, you might want to consider setting up an<\/span><a href="\&quot;https:\/\/www.ownr.co\/blog\/start-online-business\/\&quot;"><span style=\"font-weight: 400;\"> online business<\/span><\/a><span style=\"font-weight: 400;\">). Even if your business isn\u2019t registered, and even if you earned regular employment income in the same tax year, you still need to fill out the T2125.<\/span><\/p>\n<h2><span style=\"font-weight: 400;\">Are you an employee or self-employed?<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">Individuals employed by someone else don\u2019t need to fill out the T2125. The only exception is if you have <a href="\&quot;https:\/\/www.ownr.co\/blog\/side-hustle-ideas\/\&quot;">side hustle<\/a> income coming in from elsewhere.<\/span><\/p>\n<h2><span style=\"font-weight: 400;\">You\u2019re an employee if\u2026\u00a0<\/span><\/h2>\n<ul>\n<li aria-level=\"1\"><b>Your employer determines your wages and hours<\/b><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">In a typical employment situation, the company you work for ultimately defines your wage or salary. It also determines where you work from when you need to be working and have the ability to fire you.\u00a0<\/span><\/p>\n<ul>\n<li aria-level=\"1\"><b>You lack tool ownership<\/b><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">When you are an employee, your company most likely owns the tools you use. If you are an in-house graphic designer, it\u2019s likely your employer pays for things like your Adobe membership. It\u2019s also possible that your employer might also own your electronics like your phone or laptop.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">However, this isn\u2019t a surefire answer as there might be instances where an employee might own their own tools. You could still be an employee but use your own computer and phone for work purposes.<\/span><\/p>\n<ul>\n<li aria-level=\"1\"><b>You have little risk of profit or loss<\/b><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">There tends to be a low risk, low reward situation when it comes to employees (though that depends on your personal opinion of \u201creward\u201d). Employees are guaranteed a wage or salary and don\u2019t have to put up financial or other support that they could risk losing.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">There\u2019s a catch to this though\u2014some companies provide their employees with stock options or ownership of a stake in the company. This means that an employee&#8217;s \u201creward\u201d might be greater, but they still don\u2019t have to throw any risks on the line.\u00a0\u00a0<\/span><\/p>\n<ul>\n<li aria-level=\"1\"><b>You\u2019re well integrated into your company<\/b><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">Employees are most often integrated right into the company. This means they probably have a company issued email, and access to workspaces like Slack or ClickUp.<\/span><\/p>\n<h2><span style=\"font-weight: 400;\">You\u2019re a sole proprietor if\u2026\u00a0<\/span><\/h2>\n<ul>\n<li aria-level=\"1\"><b>You control your wages and hours\u00a0<\/b><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">Control looks at who decides what you earn, and when and how you work. When you are self-employed, you retain the right to decide how, when, and where you work. In many cases, you choose your own location, hours, and work standards.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">That said, some modern companies with a remote-first approach can muddy the waters. This along with the fact that \u201cwork when you want\u201d or \u201cwork when you work best\u201d are becoming a more popular approach, means that some employees might have similar freedoms to a sole proprietor.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">One quick litmus test is whether or not you have more than one client. If you are working for a single client, have set hours, and don\u2019t determine your own work process, you are more likely to be considered an employee.<\/span><\/p>\n<ul>\n<li aria-level=\"1\"><b>You supply your own tools<\/b><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">Sole proprietors and contract workers usually supply their own tools. Chances are they\u2019ll own the subscription for their graphic design program and supply their own computer.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">That said, there are instances where a sole proprietor might use tools supplied by their client. A freelance blogger might access software provided by the client, such as <\/span><a href="\&quot;https:\/\/www.ownr.co\/blog\/seo-checklist-for-your-business\/\&quot;"><span style=\"font-weight: 400;\">SEO<\/span><\/a><span style=\"font-weight: 400;\"> tools to research and add relevant keywords to an article<\/span><\/p>\n<ul>\n<li aria-level=\"1\"><b>You personally take on risk and reward<\/b><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">Those who are self-employed have an opportunity to make a profit, but they also run a risk of incurring losses due to things like bad debt, damaged equipment, and materials, or delays. Self-employed individuals also cover their own expenses, whereas employees typically don\u2019t.<\/span><\/p>\n<ul>\n<li aria-level=\"1\"><b>You work independently of the larger company<\/b><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">While some sole proprietors might be integrated into a company \u2014 they might be welcomed into their Slack channel or use their collaboration tools \u2014 more often they are not. The standard contractor will use their own channels (email, client dashboards, communication apps) to communicate with clients, but won\u2019t directly integrate into the company.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">That said, contractors that take on a larger role might have a company email or hangout on the Slack channel and <\/span><i><span style=\"font-weight: 400;\">still<\/span><\/i><span style=\"font-weight: 400;\"> be a sole proprietor.\u00a0<\/span><\/p>\n<h2><span style=\"font-weight: 400;\">How do I fill out a T2125?<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">The best way to complete your T2125 form is to have an accountant do it for you. This can help lower the risk of being audited, ensure everything is filled out correctly, and provide you with the best possible tax savings.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The basic idea of the T2125 is to input all the business and professional income you earn, and subtract any relevant expense to come up with your net business income or loss, depending on your earnings. Fill out every section as accurately as possible. It\u2019s also important to make sure you have the paperwork to back it up.<\/span><\/p>\n<h3><span style=\"font-weight: 400;\">How do I report income from multiple businesses?<\/span><\/h3>\n<p><span style=\"font-weight: 400;\">You might be surprised to hear you can run multiple businesses from a single sole proprietorship. If you run a graphic design business during the day and moonlight as an income-earning podcast host in the evening, you need to fill out a separate T2125 form for each.<\/span><\/p>\n<h3><span style=\"font-weight: 400;\">What is the difference between professional and business income?<\/span><\/h3>\n<p><span style=\"font-weight: 400;\">The T2125 requires you to claim all professional and business income, but you might wonder what the difference is.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Professional income is earned as a member of a recognized profession\u2014such as a lawyer, doctor, or accountant. Business income, on the other hand, is that earned through other activities, like your graphic design business.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">These two types of income are taxed similarly today, though minor differences do remain, so it is important to identify which is which.<\/span><\/p>\n<h2><span style=\"font-weight: 400;\">What business expenses can I deduct?<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">Sole proprietors who file a T2125 form can deduct certain small business<\/span><a href="\&quot;https:\/\/www.ownr.co\/blog\/small-business-deductions-expenses\/\&quot;"><span style=\"font-weight: 400;\"> expenses<\/span><\/a><span style=\"font-weight: 400;\">. There are three expense categories:<\/span><\/p>\n<h3><span style=\"font-weight: 400;\">Cost of goods sold<\/span><\/h3>\n<p><span style=\"font-weight: 400;\">The \u201ccost of goods sold\u201d is essentially any cost you incur to produce the end product you sell to a customer. This includes your inventory costs, returns, wages paid to employees, discounts, and money paid to contractors. Note these expenses have to be associated with selling goods or services.<\/span><\/p>\n<h3><span style=\"font-weight: 400;\">General operational expenses<\/span><\/h3>\n<p><span style=\"font-weight: 400;\">A general operating expense is any regular expense you incur while conducting regular business activity. This includes things such as marketing or advertising costs, salaries or wages, travel expenses, memberships or professional fees, and meals and entertainment.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">This also includes \u201cbusiness use of\u201d expenses. These are things like your motor vehicle expense or those associated with using a home office. You can often claim portions of your car insurance, maintenance costs and repairs, home insurance, and even your phone bill. It should be noted that you can\u2019t always claim the whole expense, which is why it\u2019s best to consult an accountant for advice.<\/span><\/p>\n<h3><span style=\"font-weight: 400;\">Capital cost allowance<\/span><\/h3>\n<p><span style=\"font-weight: 400;\">The \u201ccapital cost allowance\u201d refers to the cost of things like equipment, furniture, tools, and buildings. These things depreciate over time, so they need to be split up and can\u2019t be claimed all in one year.\u00a0<\/span><\/p>\n<h2><span style=\"font-weight: 400;\">How to file your T2125<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">When it comes to actually filing your T2125, you should file it with the rest of your T1 personal income tax documents. You can e-file it through <\/span><a href="\&quot;https:\/\/www.canada.ca\/en\/revenue-agency\/services\/e-services\/e-services-individuals\/netfile-overview.html\&quot;"><span style=\"font-weight: 400;\">Netfile<\/span><\/a><span style=\"font-weight: 400;\">, or you can get a professional tax preparer to file through the CRA\u2019s e-file service.<\/span><\/p>\n<h3><span style=\"font-weight: 400;\">When is the filing deadline for T2125 forms?<\/span><\/h3>\n<p><span style=\"font-weight: 400;\">If you are self-employed, your T1 form and T2125 is due by June 15. That said, most professionals recommend you file your taxes prior to the April 30 deadline, because you will be charged interest on any taxes you owe starting April 30.<\/span><\/p>\n<h2><span style=\"font-weight: 400;\">Getting ready for tax time<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">Whether you have to file a T2125 depends on the type of business you have. Regardless, all businesses have to prepare for tax season. Make sure to keep all of your receipts and invoices (it helps to have a good<\/span><a href="\&quot;https:\/\/www.ownr.co\/blog\/create-document-management-system\/\&quot;"><span style=\"font-weight: 400;\"> document management system<\/span><\/a><span style=\"font-weight: 400;\">), and using an accounting system can help make things easier when it comes to tax season.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>New to the world of being a self-employed entrepreneur? It involves new responsibilities like filing a T2125 form with the CRA. Here\u2019s what you need to know<\/p>\n","protected":false},"author":5,"featured_media":8571,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"content-type":"","_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_post_was_ever_published":false},"categories":[978],"tags":[214,712,714],"class_list":["post-8570","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-accounting-and-tax","tag-compliance","tag-tax","tag-tax-forms"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>How to File a T2125 Form | Ownr Blog<\/title>\n<meta name=\"description\" content=\"New to the world of being a self-employed entrepreneur? It involves new responsibilities like filing a T2125 form with the CRA. Here\u2019s what you need to know\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.ownr.co\/blog\/how-to-file-a-t2125-form\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"How to File a T2125 Form | Ownr Blog\" \/>\n<meta property=\"og:description\" content=\"New to the world of being a self-employed entrepreneur? It involves new responsibilities like filing a T2125 form with the CRA. Here\u2019s what you need to know\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.ownr.co\/blog\/how-to-file-a-t2125-form\/\" \/>\n<meta property=\"og:site_name\" content=\"Ownr Blog\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/OwnrCo\/\" \/>\n<meta property=\"article:published_time\" content=\"2023-10-03T03:52:29+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-05-22T18:28:00+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.ownr-blog.com\/wp-content\/uploads\/2022\/01\/how_to_file_a_.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"2000\" \/>\n\t<meta property=\"og:image:height\" content=\"1333\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Ownr Team\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@OwnrCo\" \/>\n<meta name=\"twitter:site\" content=\"@OwnrCo\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Ownr Team\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"8 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.ownr.co\\\/blog\\\/how-to-file-a-t2125-form\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.ownr.co\\\/blog\\\/how-to-file-a-t2125-form\\\/\"},\"author\":{\"name\":\"Ownr Team\",\"@id\":\"https:\\\/\\\/www.ownr.co\\\/blog\\\/#\\\/schema\\\/person\\\/2d3a90f4777763d5abc49866c1f4f694\"},\"headline\":\"How to File a T2125 Form\",\"datePublished\":\"2023-10-03T03:52:29+00:00\",\"dateModified\":\"2024-05-22T18:28:00+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.ownr.co\\\/blog\\\/how-to-file-a-t2125-form\\\/\"},\"wordCount\":1852,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\\\/\\\/www.ownr.co\\\/blog\\\/#organization\"},\"image\":{\"@id\":\"https:\\\/\\\/www.ownr.co\\\/blog\\\/how-to-file-a-t2125-form\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.ownr-blog.com\\\/wp-content\\\/uploads\\\/2022\\\/01\\\/how_to_file_a_.jpg\",\"keywords\":[\"compliance\",\"Tax\",\"tax forms\"],\"articleSection\":[\"Accounting and Tax\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.ownr.co\\\/blog\\\/how-to-file-a-t2125-form\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.ownr.co\\\/blog\\\/how-to-file-a-t2125-form\\\/\",\"url\":\"https:\\\/\\\/www.ownr.co\\\/blog\\\/how-to-file-a-t2125-form\\\/\",\"name\":\"How to File a T2125 Form | Ownr Blog\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.ownr.co\\\/blog\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/www.ownr.co\\\/blog\\\/how-to-file-a-t2125-form\\\/#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/www.ownr.co\\\/blog\\\/how-to-file-a-t2125-form\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.ownr-blog.com\\\/wp-content\\\/uploads\\\/2022\\\/01\\\/how_to_file_a_.jpg\",\"datePublished\":\"2023-10-03T03:52:29+00:00\",\"dateModified\":\"2024-05-22T18:28:00+00:00\",\"description\":\"New to the world of being a self-employed entrepreneur? It involves new responsibilities like filing a T2125 form with the CRA. Here\u2019s what you need to know\",\"breadcrumb\":{\"@id\":\"https:\\\/\\\/www.ownr.co\\\/blog\\\/how-to-file-a-t2125-form\\\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/www.ownr.co\\\/blog\\\/how-to-file-a-t2125-form\\\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/www.ownr.co\\\/blog\\\/how-to-file-a-t2125-form\\\/#primaryimage\",\"url\":\"https:\\\/\\\/www.ownr-blog.com\\\/wp-content\\\/uploads\\\/2022\\\/01\\\/how_to_file_a_.jpg\",\"contentUrl\":\"https:\\\/\\\/www.ownr-blog.com\\\/wp-content\\\/uploads\\\/2022\\\/01\\\/how_to_file_a_.jpg\",\"width\":2000,\"height\":1333,\"caption\":\"Partners meet to file taxes, attentive looking at a T2125 Form\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/www.ownr.co\\\/blog\\\/how-to-file-a-t2125-form\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Ownr Blog\",\"item\":\"https:\\\/\\\/www.ownr.co\\\/blog\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Ownrship 101\",\"item\":\"https:\\\/\\\/www.ownr.co\\\/blog\\\/category\\\/ownrship-101\\\/\"},{\"@type\":\"ListItem\",\"position\":3,\"name\":\"Business Stages\",\"item\":\"https:\\\/\\\/www.ownr.co\\\/blog\\\/category\\\/ownrship-101\\\/business-stages\\\/\"},{\"@type\":\"ListItem\",\"position\":4,\"name\":\"Managing Your Business\",\"item\":\"https:\\\/\\\/www.ownr.co\\\/blog\\\/category\\\/ownrship-101\\\/business-stages\\\/managing-your-business\\\/\"},{\"@type\":\"ListItem\",\"position\":5,\"name\":\"Accounting and Tax\",\"item\":\"https:\\\/\\\/www.ownr.co\\\/blog\\\/category\\\/ownrship-101\\\/business-stages\\\/managing-your-business\\\/accounting-and-tax\\\/\"},{\"@type\":\"ListItem\",\"position\":6,\"name\":\"How to File a T2125 Form\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/www.ownr.co\\\/blog\\\/#website\",\"url\":\"https:\\\/\\\/www.ownr.co\\\/blog\\\/\",\"name\":\"Ownr Blog\",\"description\":\"Helping Canadians Register &amp; Incorporate Their Business\",\"publisher\":{\"@id\":\"https:\\\/\\\/www.ownr.co\\\/blog\\\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/www.ownr.co\\\/blog\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\\\/\\\/www.ownr.co\\\/blog\\\/#organization\",\"name\":\"Ownr Co\",\"url\":\"https:\\\/\\\/www.ownr.co\\\/blog\\\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/www.ownr.co\\\/blog\\\/#\\\/schema\\\/logo\\\/image\\\/\",\"url\":\"https:\\\/\\\/ownr-blog.com\\\/wp-content\\\/uploads\\\/2023\\\/12\\\/ownr-logo.svg?w=1024\",\"contentUrl\":\"https:\\\/\\\/ownr-blog.com\\\/wp-content\\\/uploads\\\/2023\\\/12\\\/ownr-logo.svg?w=1024\",\"width\":\"1024\",\"height\":\"1024\",\"caption\":\"Ownr Co\"},\"image\":{\"@id\":\"https:\\\/\\\/www.ownr.co\\\/blog\\\/#\\\/schema\\\/logo\\\/image\\\/\"},\"sameAs\":[\"https:\\\/\\\/www.facebook.com\\\/OwnrCo\\\/\",\"https:\\\/\\\/x.com\\\/OwnrCo\",\"https:\\\/\\\/www.instagram.com\\\/ownr.co\\\/\",\"https:\\\/\\\/ca.linkedin.com\\\/company\\\/ownrco\"]},{\"@type\":\"Person\",\"@id\":\"https:\\\/\\\/www.ownr.co\\\/blog\\\/#\\\/schema\\\/person\\\/2d3a90f4777763d5abc49866c1f4f694\",\"name\":\"Ownr Team\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/f25abadb65e3656ea6142f6d5a3d046d505765d0b46c9cf3f28063ba053f4bcc?s=96&d=mm&r=g\",\"url\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/f25abadb65e3656ea6142f6d5a3d046d505765d0b46c9cf3f28063ba053f4bcc?s=96&d=mm&r=g\",\"contentUrl\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/f25abadb65e3656ea6142f6d5a3d046d505765d0b46c9cf3f28063ba053f4bcc?s=96&d=mm&r=g\",\"caption\":\"Ownr Team\"}}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"How to File a T2125 Form | Ownr Blog","description":"New to the world of being a self-employed entrepreneur? It involves new responsibilities like filing a T2125 form with the CRA. Here\u2019s what you need to know","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.ownr.co\/blog\/how-to-file-a-t2125-form\/","og_locale":"en_US","og_type":"article","og_title":"How to File a T2125 Form | Ownr Blog","og_description":"New to the world of being a self-employed entrepreneur? It involves new responsibilities like filing a T2125 form with the CRA. Here\u2019s what you need to know","og_url":"https:\/\/www.ownr.co\/blog\/how-to-file-a-t2125-form\/","og_site_name":"Ownr Blog","article_publisher":"https:\/\/www.facebook.com\/OwnrCo\/","article_published_time":"2023-10-03T03:52:29+00:00","article_modified_time":"2024-05-22T18:28:00+00:00","og_image":[{"width":2000,"height":1333,"url":"https:\/\/www.ownr-blog.com\/wp-content\/uploads\/2022\/01\/how_to_file_a_.jpg","type":"image\/jpeg"}],"author":"Ownr Team","twitter_card":"summary_large_image","twitter_creator":"@OwnrCo","twitter_site":"@OwnrCo","twitter_misc":{"Written by":"Ownr Team","Est. reading time":"8 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.ownr.co\/blog\/how-to-file-a-t2125-form\/#article","isPartOf":{"@id":"https:\/\/www.ownr.co\/blog\/how-to-file-a-t2125-form\/"},"author":{"name":"Ownr Team","@id":"https:\/\/www.ownr.co\/blog\/#\/schema\/person\/2d3a90f4777763d5abc49866c1f4f694"},"headline":"How to File a T2125 Form","datePublished":"2023-10-03T03:52:29+00:00","dateModified":"2024-05-22T18:28:00+00:00","mainEntityOfPage":{"@id":"https:\/\/www.ownr.co\/blog\/how-to-file-a-t2125-form\/"},"wordCount":1852,"commentCount":0,"publisher":{"@id":"https:\/\/www.ownr.co\/blog\/#organization"},"image":{"@id":"https:\/\/www.ownr.co\/blog\/how-to-file-a-t2125-form\/#primaryimage"},"thumbnailUrl":"https:\/\/www.ownr-blog.com\/wp-content\/uploads\/2022\/01\/how_to_file_a_.jpg","keywords":["compliance","Tax","tax forms"],"articleSection":["Accounting and Tax"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/www.ownr.co\/blog\/how-to-file-a-t2125-form\/#respond"]}]},{"@type":"WebPage","@id":"https:\/\/www.ownr.co\/blog\/how-to-file-a-t2125-form\/","url":"https:\/\/www.ownr.co\/blog\/how-to-file-a-t2125-form\/","name":"How to File a T2125 Form | Ownr Blog","isPartOf":{"@id":"https:\/\/www.ownr.co\/blog\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.ownr.co\/blog\/how-to-file-a-t2125-form\/#primaryimage"},"image":{"@id":"https:\/\/www.ownr.co\/blog\/how-to-file-a-t2125-form\/#primaryimage"},"thumbnailUrl":"https:\/\/www.ownr-blog.com\/wp-content\/uploads\/2022\/01\/how_to_file_a_.jpg","datePublished":"2023-10-03T03:52:29+00:00","dateModified":"2024-05-22T18:28:00+00:00","description":"New to the world of being a self-employed entrepreneur? It involves new responsibilities like filing a T2125 form with the CRA. Here\u2019s what you need to know","breadcrumb":{"@id":"https:\/\/www.ownr.co\/blog\/how-to-file-a-t2125-form\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.ownr.co\/blog\/how-to-file-a-t2125-form\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.ownr.co\/blog\/how-to-file-a-t2125-form\/#primaryimage","url":"https:\/\/www.ownr-blog.com\/wp-content\/uploads\/2022\/01\/how_to_file_a_.jpg","contentUrl":"https:\/\/www.ownr-blog.com\/wp-content\/uploads\/2022\/01\/how_to_file_a_.jpg","width":2000,"height":1333,"caption":"Partners meet to file taxes, attentive looking at a T2125 Form"},{"@type":"BreadcrumbList","@id":"https:\/\/www.ownr.co\/blog\/how-to-file-a-t2125-form\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Ownr Blog","item":"https:\/\/www.ownr.co\/blog\/"},{"@type":"ListItem","position":2,"name":"Ownrship 101","item":"https:\/\/www.ownr.co\/blog\/category\/ownrship-101\/"},{"@type":"ListItem","position":3,"name":"Business Stages","item":"https:\/\/www.ownr.co\/blog\/category\/ownrship-101\/business-stages\/"},{"@type":"ListItem","position":4,"name":"Managing Your Business","item":"https:\/\/www.ownr.co\/blog\/category\/ownrship-101\/business-stages\/managing-your-business\/"},{"@type":"ListItem","position":5,"name":"Accounting and Tax","item":"https:\/\/www.ownr.co\/blog\/category\/ownrship-101\/business-stages\/managing-your-business\/accounting-and-tax\/"},{"@type":"ListItem","position":6,"name":"How to File a T2125 Form"}]},{"@type":"WebSite","@id":"https:\/\/www.ownr.co\/blog\/#website","url":"https:\/\/www.ownr.co\/blog\/","name":"Ownr Blog","description":"Helping Canadians Register &amp; Incorporate Their Business","publisher":{"@id":"https:\/\/www.ownr.co\/blog\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.ownr.co\/blog\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/www.ownr.co\/blog\/#organization","name":"Ownr Co","url":"https:\/\/www.ownr.co\/blog\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.ownr.co\/blog\/#\/schema\/logo\/image\/","url":"https:\/\/ownr-blog.com\/wp-content\/uploads\/2023\/12\/ownr-logo.svg?w=1024","contentUrl":"https:\/\/ownr-blog.com\/wp-content\/uploads\/2023\/12\/ownr-logo.svg?w=1024","width":"1024","height":"1024","caption":"Ownr Co"},"image":{"@id":"https:\/\/www.ownr.co\/blog\/#\/schema\/logo\/image\/"},"sameAs":["https:\/\/www.facebook.com\/OwnrCo\/","https:\/\/x.com\/OwnrCo","https:\/\/www.instagram.com\/ownr.co\/","https:\/\/ca.linkedin.com\/company\/ownrco"]},{"@type":"Person","@id":"https:\/\/www.ownr.co\/blog\/#\/schema\/person\/2d3a90f4777763d5abc49866c1f4f694","name":"Ownr Team","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/secure.gravatar.com\/avatar\/f25abadb65e3656ea6142f6d5a3d046d505765d0b46c9cf3f28063ba053f4bcc?s=96&d=mm&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/f25abadb65e3656ea6142f6d5a3d046d505765d0b46c9cf3f28063ba053f4bcc?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/f25abadb65e3656ea6142f6d5a3d046d505765d0b46c9cf3f28063ba053f4bcc?s=96&d=mm&r=g","caption":"Ownr Team"}}]}},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/www.ownr-blog.com\/wp-content\/uploads\/2022\/01\/how_to_file_a_.jpg","_links":{"self":[{"href":"https:\/\/www.ownr.co\/blog\/wp-json\/wp\/v2\/posts\/8570","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.ownr.co\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.ownr.co\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.ownr.co\/blog\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/www.ownr.co\/blog\/wp-json\/wp\/v2\/comments?post=8570"}],"version-history":[{"count":2,"href":"https:\/\/www.ownr.co\/blog\/wp-json\/wp\/v2\/posts\/8570\/revisions"}],"predecessor-version":[{"id":14308,"href":"https:\/\/www.ownr.co\/blog\/wp-json\/wp\/v2\/posts\/8570\/revisions\/14308"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.ownr.co\/blog\/wp-json\/wp\/v2\/media\/8571"}],"wp:attachment":[{"href":"https:\/\/www.ownr.co\/blog\/wp-json\/wp\/v2\/media?parent=8570"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.ownr.co\/blog\/wp-json\/wp\/v2\/categories?post=8570"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.ownr.co\/blog\/wp-json\/wp\/v2\/tags?post=8570"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}