Filing Deadline for Self-Employed

Posted Nov 22nd, 2021 in Ask ATAP

Filing Deadline for Self-Employed

Q:  This year, I was laid off from my job, and I started a small construction business.  I haven’t incorporated yet, but I plan to next year.  When is my return due? Also, my wife works at the bank – when is her return due?

A:  Self-employed individuals operating as a sole proprietorship or in a partnership have until June 15 to file their tax return.  However, any balance due must be paid by May 2 to avoid any interest on the amount owing.

 Spouses of self-employed individuals are also granted the same June 15 deadline, even if they are not self-employed themselves.  Again, they must pay any balance due by May 2.

 As a self-employed individual, you might be entitled to write off a portion of your household expenses.  For help in determining all the deductions you are entitled to, contact an ATAP member today.

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