Hiring agency expense & Publishing expense

Tax Topics
1

Where on the T2125 would you categorize a hiring agency expense?
The hiring agency is used to hire new subcontractors for the business.

My thoughts were one of the following:

  • Line 8860 – Professional fees
  • Line 8871 – Management and administration fees

Also, where on the T2125 would you categorize a publishing expense related to publishing a book?

My thought is Line 8860 – Professional fees

2

For the hiring agency, I would use 8860. Publishing expense is cost of Goods Sold.

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3

What line would you put publishing expense on 8450?

4

I would use 8360 or 8450 in the Cost of Goods section.

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5

Thank you @obhorst I really appreciate your replies. I hope you have a nice weekend!

6

If it’s professional income, taxcycle actually suggests putting it in the expense section instead of the cost of goods section. I wonder if it matters putting revenue as business income instead of professional income.

Also, for sole proprietor that incurred training cost, , where would you record such expense? I was thinking, even if T2202 is issued for such training, maybe recording such training if benefits business, will be a better option?

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