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L
larkinds
May 4, 2025
Question

My return is going down as I add small business deductions. As small business owners are we obligated to report expenses?

  • May 4, 2025
  • 1 reply
  • 0 views
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    1 reply

    TurboTaxSusan
    TurboTaxSusan
    May 9, 2025

    No, you don't have to claim expenses against your Self-Employment income. 

     

    The likely reason why your Self-Employment expenses are reducing your tax refund is because they are reducing your income to below the level needed to qualify for the Canada Workers Benefit (CWB).

     

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