Skip to main content
TurboTax
Community
TurboTax
Community
TurboTax
Community
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
No text available

    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).

     

    TurboTax Expert Assist
    TurboTax Expert

    Get answers to all your tax questions

    Our experts are available on-demand, no appointment needed. Get help all year long with TurboTax Expert Assist.

    Terms & ConditionsCookie settingsAccessibility statement
    Intuit
    TurboTax Credit Karma QuickBooks MailChimp

    ©1997-2022 Intuit, Inc. All rights reserved.
    Intuit, QuickBooks, QB, TurboTax, ProConnect, and Mint are registered trademarks
    of Intuit Inc. Terms and conditions, features, support, pricing, and service options
    subject to change without notice.

    Security Certification of the TurboTax Online application has been performed by
    C-Level Security.

    By accessing and using this page you agree to the Terms of Use.

    Accessibility

    TRUSTe nResult Certified e-File C-Level Security Certification