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Self-employed? Get straightforward information about taxes

Cleo Hamel, a senior tax analyst at H&R Block in Calgary.

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You're self-employed. After taking that momentous step, what business practices can best help you to become successful? To start smart, first decide how to record business income and expenses, advises Cleo Hamel, a senior tax analyst at H&R Block in Calgary.

Whether you use a spreadsheet, accounting software or old-fashioned pen and paper, Ms. Hamel says self-employed people must get into the habit of keeping receipts and recording expenses.

Join Ms. Hamel at 1 p.m. EDT on Thursday, Oct. 18, to discuss how best to make the transition from a salaried job with a yearly T4 to gathering your tax information yourself.

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Ms. Hamel joined H&R Block in 2000, rising to district manager before taking her current position in 2006. She is now part of a team responsible for ensuring tax associates are informed and trained on all tax laws as well as providing commentary on tax-related issues.

Ms. Hamel is also the national spokeswoman for the Tax Advisory at H&R Block and has been interviewed across the country. She attended the University of Calgary and studied French, Italian and Spanish with a minor in business and is fluent in French and Italian. She continued her education with the university and completed her management certificate in 1994.

Read more about tax issues for the self-employed here. Questions can be left in advance for Ms. Hamel in the comments section on this page, or join us live on Oct. 18.

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