92. Self-Employed Taxes 101: Maximize Write-Offs & Avoid CRA Mistakes with CPA Cindy Kumar

Self-employed? Learn how to save money on taxes, maximize write-offs, and avoid CRA mistakes in this episode of In Her Wallet!

In this episode, host Sofiia sits down with Chartered Professional Accountant Cindy Kumar to break down self-employment taxes and how freelancers, consultants, and small business owners can navigate tax season with confidence.

Topics covered:

• Key differences between taxes for employees vs. self-employed individuals

• Smart tax deductions & common write-off myths

• Audit triggers & how to avoid red flags with the CRA

• Should you incorporate? The pros & cons for tax savings

• How accountants add value beyond tax software like TurboTax

• Maximizing retirement plans (RRSP) for self-employed individuals

Whether you’re a freelancer, consultant, or small business owner, this comprehensive guide will help you avoid tax pitfalls, save money, and stay compliant.

Listen now on Spotify, Apple Podcasts & YouTube!

Have a tax question? Drop it in the comments!

Cindy's resources:

• 100 Tax Write-Offs Cheat Sheet
• Book a Free 20-Min Financial Clarity Session with Cindy
• Register for 4-Week Tax Course for Self-Employed

In Her Wallet's resources:

• Listen to EP64 You Guide to Filing Personal Income Taxes with Wealthsimple's Caroline Corbeil

• Get Your Monthly Budget Planner for $20
• Watch Episodes on YouTube!