--- title: Toro Accounting Blog (8) description: Toro Accounting blog for accounting and tax topics in Canada, (8) --- [Skip to content](https://toroaccounting.ca/blog/page/8#main-content) - [English](https://toroaccounting.ca/blog) - [Spanish](https://toroaccounting.ca/es/blog) English Show submenu for translations [![Toro Financial Inc. dba Toro Accounting](https://toroaccounting.ca/hs-fs/hubfs/Logo-Square%20(500%20x%20200%20px)-1.png?width=450&height=150&name=Logo-Square%20(500%20x%20200%20px)-1.png)](https://toroaccounting.ca/en?hsLang=en) - [Home](https://toroaccounting.ca/en/) - [Taxes](https://toroaccounting.ca/en/tax-filing-services) Show submenu for Taxes - [1st Tax Filing](https://toroaccounting.ca/en/steps-for-filing-t1) - [Bookkeeping](https://toroaccounting.ca/en/bookkeeping) - [Business Plans](https://toroaccounting.ca/en/create-my-business-plan) - [Blog](https://toroaccounting.ca/blog) Open main navigation Close main navigation - [Home](https://toroaccounting.ca/en/) - [Taxes](https://toroaccounting.ca/en/tax-filing-services) Show submenu for Taxes - [1st Tax Filing](https://toroaccounting.ca/en/steps-for-filing-t1) - [Bookkeeping](https://toroaccounting.ca/en/bookkeeping) - [Business Plans](https://toroaccounting.ca/en/create-my-business-plan) - [Blog](https://toroaccounting.ca/blog) - - [English](https://toroaccounting.ca/blog) - [Spanish](https://toroaccounting.ca/es/blog) English Show submenu for translations - [Book a Free Consultation](https://toroaccounting.ca/en/book-consultation) [Book a Free Consultation](https://toroaccounting.ca/en/book-consultation?hsLang=en) # The Blog Discover tax tips for small business owners and self-employed individuals in Canada. From claiming expenses to understanding tax residency, find valuable insights to optimize your business finances. Search for any topic on our blog - There are no suggestions because the search field is empty. [![](https://toroaccounting.ca/hubfs/image-png-Jul-26-2024-11-39-13-1396-PM.png)](https://toroaccounting.ca/blog/c%C3%B3mo-registrar-una-sociedad-en-ontario-gu%C3%ADa-detallada) [Opening a New Business](https://toroaccounting.ca/blog/tag/opening-a-new-business), [Partnership](https://toroaccounting.ca/blog/tag/partnership) ## [How to register a partnership in Ontario](https://toroaccounting.ca/blog/c%C3%B3mo-registrar-una-sociedad-en-ontario-gu%C3%ADa-detallada) [Camilo Toro](https://toroaccounting.ca/blog/author/camilo-toro) Jul 26, 2024, 7:44:52 PM Starting a business can be a daunting task, but one way to share the load and enhance your chances o... [Read more](https://toroaccounting.ca/blog/c%C3%B3mo-registrar-una-sociedad-en-ontario-gu%C3%ADa-detallada) [![](https://toroaccounting.ca/hubfs/image-png-Jul-18-2024-05-25-31-7433-PM.png)](https://toroaccounting.ca/blog/should-you-incorporate-or-remain-a-sole-proprietor) [Corporation](https://toroaccounting.ca/blog/tag/corporation), [Opening a New Business](https://toroaccounting.ca/blog/tag/opening-a-new-business) ## [Should You Incorporate or Remain a Sole Proprietor?](https://toroaccounting.ca/blog/should-you-incorporate-or-remain-a-sole-proprietor) [Camilo Toro](https://toroaccounting.ca/blog/author/camilo-toro) Jul 18, 2024, 1:26:43 PM Determining whether to incorporate your business or remain a sole proprietor is a crucial decision t... [Read more](https://toroaccounting.ca/blog/should-you-incorporate-or-remain-a-sole-proprietor) [![](https://toroaccounting.ca/hubfs/image-png-Jul-12-2024-11-56-03-7382-PM.png)](https://toroaccounting.ca/blog/how-employee-vs-self-employed-taxes-work) [Tax](https://toroaccounting.ca/blog/tag/tax), [Self-Employed](https://toroaccounting.ca/blog/tag/self-employed) ## [How Income Taxes Work in Canada for Employees vs Self-Employed Individuals](https://toroaccounting.ca/blog/how-employee-vs-self-employed-taxes-work) [Camilo Toro](https://toroaccounting.ca/blog/author/camilo-toro) Jul 13, 2024, 12:07:16 AM In Canada, sole proprietors and employees report their income and expenses on their personal tax ret... [Read more](https://toroaccounting.ca/blog/how-employee-vs-self-employed-taxes-work) [![](https://images.squarespace-cdn.com/content/v1/646038aa3c92da64e9777bf5/1710104284598-2YVJV04BIJ108S8JDOEC/image-asset.jpeg)](https://toroaccounting.ca/blog/personal-service-business-tax-pitfalls-for-incorporated-individuals) [Tax](https://toroaccounting.ca/blog/tag/tax), [Corporation](https://toroaccounting.ca/blog/tag/corporation) ## [Personal Service Business - Tax Pitfalls for Incorporated Individuals](https://toroaccounting.ca/blog/personal-service-business-tax-pitfalls-for-incorporated-individuals) [Camilo Toro](https://toroaccounting.ca/blog/author/camilo-toro) Jul 8, 2024, 5:51:00 PM In Canada, if your business is labeled as a personal services business, it loses out on many tax ben... [Read more](https://toroaccounting.ca/blog/personal-service-business-tax-pitfalls-for-incorporated-individuals) [![](https://images.squarespace-cdn.com/content/v1/646038aa3c92da64e9777bf5/1711225123328-AVR0INNMYVUZ4FYLLMYH/image-asset.jpeg)](https://toroaccounting.ca/blog/self-employed-and-run-a-business-out-of-your-home-what-you-can-claim) [Tax](https://toroaccounting.ca/blog/tag/tax), [Self-Employed](https://toroaccounting.ca/blog/tag/self-employed) ## [Self-Employed and Run a Business Out of Your Home: What You Can Claim?](https://toroaccounting.ca/blog/self-employed-and-run-a-business-out-of-your-home-what-you-can-claim) [Camilo Toro](https://toroaccounting.ca/blog/author/camilo-toro) Jul 7, 2024, 5:03:33 PM If you're a small business owner or self-employed individual in Canada, you may be eligible to claim... [Read more](https://toroaccounting.ca/blog/self-employed-and-run-a-business-out-of-your-home-what-you-can-claim) [![](https://toroaccounting.ca/hubfs/Imported_Blog_Media/1713041950289.jpeg)](https://toroaccounting.ca/blog/demystifying-opening-a-business-in-canada-z54s3) [Opening a New Business](https://toroaccounting.ca/blog/tag/opening-a-new-business) ## [Demystifying Opening a Business In Canada](https://toroaccounting.ca/blog/demystifying-opening-a-business-in-canada-z54s3) [Camilo Toro](https://toroaccounting.ca/blog/author/camilo-toro) Jul 7, 2024, 5:00:46 PM Starting a business in Canada doesn't always require a groundbreaking idea; instead, you can succeed... [Read more](https://toroaccounting.ca/blog/demystifying-opening-a-business-in-canada-z54s3) [![](https://toroaccounting.ca/hubfs/image-png-Jul-07-2024-08-18-18-7110-PM.png)](https://toroaccounting.ca/blog/form-rc151) [Tax](https://toroaccounting.ca/blog/tag/tax), [HST-GST Credit](https://toroaccounting.ca/blog/tag/hst-gst-credit) ## [How to Fill Out the Form RC-151 for the GST and HST Tax Credit If You're New to Canada](https://toroaccounting.ca/blog/form-rc151) [Camilo Toro](https://toroaccounting.ca/blog/author/camilo-toro) Jul 7, 2024, 4:39:14 PM If you do not have children and it is your first tax return in Canada, to apply for the GST/HST Cred... [Read more](https://toroaccounting.ca/blog/form-rc151) [![](https://toroaccounting.ca/hubfs/image-png-4.png)](https://toroaccounting.ca/blog/self-employed-car-expenses) [Tax](https://toroaccounting.ca/blog/tag/tax), [Vehicle Expenses](https://toroaccounting.ca/blog/tag/vehicle-expenses), [Self-Employed](https://toroaccounting.ca/blog/tag/self-employed) ## [How to Deduct Business Use of Your Vehicle for Self-Employed Indiduals in Canada](https://toroaccounting.ca/blog/self-employed-car-expenses) [Camilo Toro](https://toroaccounting.ca/blog/author/camilo-toro) Jul 7, 2024, 4:13:48 PM If you are self-employed or own a small business in Canada, it is likely that you use a vehicle for ... [Read more](https://toroaccounting.ca/blog/self-employed-car-expenses) [![](https://toroaccounting.ca/hubfs/image-png-3.png)](https://toroaccounting.ca/blog/how-to-deduct-the-business-use-of-a-personal-vehicle-for-your-corporation) [Tax](https://toroaccounting.ca/blog/tag/tax), [Corporation](https://toroaccounting.ca/blog/tag/corporation), [Vehicle Expenses](https://toroaccounting.ca/blog/tag/vehicle-expenses) ## [How to Deduct the Business Use of a Personal Vehicle for Your Corporation](https://toroaccounting.ca/blog/how-to-deduct-the-business-use-of-a-personal-vehicle-for-your-corporation) [Camilo Toro](https://toroaccounting.ca/blog/author/camilo-toro) Jul 7, 2024, 9:54:23 AM When you use a personal vehicle for business purposes, your corporation can deduct the business-rela... [Read more](https://toroaccounting.ca/blog/how-to-deduct-the-business-use-of-a-personal-vehicle-for-your-corporation) [![](https://toroaccounting.ca/hubfs/image-png-2.png)](https://toroaccounting.ca/blog/understanding-share-structures-in-canada-for-small-corporations-a-guide-for-tax-and-estate-planning) [Tax](https://toroaccounting.ca/blog/tag/tax), [Corporation](https://toroaccounting.ca/blog/tag/corporation), [Shares](https://toroaccounting.ca/blog/tag/shares) ## [Understanding Share Structures in Canada for Small Corporations: A Guide for Tax and Estate Planning](https://toroaccounting.ca/blog/understanding-share-structures-in-canada-for-small-corporations-a-guide-for-tax-and-estate-planning) [Camilo Toro](https://toroaccounting.ca/blog/author/camilo-toro) Jul 6, 2024, 11:03:49 PM When starting a business in Canada, one crucial consideration is the share structure. The right shar... [Read more](https://toroaccounting.ca/blog/understanding-share-structures-in-canada-for-small-corporations-a-guide-for-tax-and-estate-planning) [First](https://toroaccounting.ca/blog) [Prev](https://toroaccounting.ca/blog/page/7) [6](https://toroaccounting.ca/blog/page/6) [7](https://toroaccounting.ca/blog/page/7) [8](https://toroaccounting.ca/blog/page/8) [9](https://toroaccounting.ca/blog/page/9) [10](https://toroaccounting.ca/blog/page/10) [Next](https://toroaccounting.ca/blog/page/9) [Last](https://toroaccounting.ca/blog/page/11) [facebook-f icon](https://www.facebook.com/profile.php?id=100092941966688) [instagram icon](https://www.instagram.com/toroaccounting/) [X Twitter icon](https://twitter.com/Toro_Accounting) [Follow us on Facebook](https://wa.me/16474591013) - [Home](https://toroaccounting.ca/en/) - [Taxes](https://toroaccounting.ca/en/tax-filing-services) - [Bookkeeping](https://toroaccounting.ca/en/bookkeeping) - [Business Plans](https://toroaccounting.ca/en/create-my-business-plan) - [Privacy](https://toroaccounting.ca/en/privacy-policy) - [Blog](https://toroaccounting.ca/blog)   ## **Download Our** **Free Small** **Business Guide**   [Download](https://toroaccounting.ca/hubfs/Small%20Business%20Guide%20(English)%20Compressed.pdf?hsLang=en)       ## **About Us** At Toro Accounting, we specialize in offering custom bookkeeping and accounting services for small businesses and entrepreneurs in Canada. Based in Toronto, our goal is to simplify your financial obligations so you can focus on what really matters: growing your business. ## **Contact Us** Do you have questions or need help with your business finances? We're here to help! Get in touch with us through the following channels: 📧 **Email:** [office@toroaccounting.ca](mailto:office@toroaccounting.ca) 📞 **Phone:** +1 (647) 947-3715  ## Worksheets: [Sole Prop or Self Employed Bookkeeping Worksheet](https://toroaccounting.ca/hubfs/Forms/TOROFINANCIAL-Sole-P-Bookkeeping.xlsx?hsLang=en) [Corporate Tax Worksheet](https://toroaccounting.ca/hubfs/Forms/TOROFINANCIAL-Corporate-Bookkeeping.xlsx?hsLang=en) ## Links: [Authorize Representative (Personal)](https://toroaccounting.ca/en/authorize-representative?hsLang=en) [Authorize Representative (Business)](https://toroaccounting.ca/blog/authorize-toro-financial-business-cra-account) ## Forms: [Personal Tax Forms](https://toroaccounting.ca/en/personal-tax-form?hsLang=en) [Business Plan Forms](https://toroaccounting.ca/en/create-my-business-plan?hsLang=en) [Self-Employed Tax Forms](https://toroaccounting.ca/en/sole-prop-worksheet?hsLang=en) [Corporate Tax Forms](https://toroaccounting.ca/en/corporate-tax-return-worksheet?hsLang=en) [Corporation Registration Forms](https://toroaccounting.ca/en/registration-corporation?hsLang=en) [Employment Expenses Forms (T777)](https://toroaccounting.ca/en/employment-expenses-t777?hsLang=en) [Moving expenses form](https://toroaccounting.ca/moving-expenses-claim-form-t1-m?hsLang=en) --- [![Toro Financial Inc. dba Toro Accounting](https://toroaccounting.ca/hs-fs/hubfs/Logo-Square%20(500%20x%20200%20px)-1.png?width=450&height=150&name=Logo-Square%20(500%20x%20200%20px)-1.png "Toro Financial Inc. dba Toro Accounting")](https://torofinancial.ca?hsLang=en) 895 Don Mills Road, Two Morneau Shepell Centre, Suite 900,  Toronto, ON M3C 3R6 Copyright © 2025, Toro Financial Inc.       [Contact Us](https://toroaccounting.ca/en/contact-us?hsLang=en)                [Privacy Policy](https://toroaccounting.ca/en/privacy-policy?hsLang=en)