Shaelene’s Tax Tip of the Week – June 30th

Books In Line

Have you had to take any prescription medications (that aren’t vitamins) that you don’t have coverage for?

You can write off any prescription medications that you took this tax year, before December 31st.  You can also claim medical insurance that you have purchased for an out-of-country trip!

Have questions? Give us a call at 905-571-2665 (BOOK)!

We’ve got you covered!

Shaelene’s Tax Tip of the Week – June 23rd

Books In Line
Did you know?

As is the standard in much of Canadian Law, the CRA uses a “reasonableness” test to determine their decisions as they relate to business income. In fact, “reasonable” and “reasonably” shows up an astounding 1,219 times in our Income Tax Act. If you plan to do something, consider for example whether or not the CRA would think you “reasonably” expected a profit from your undertaking.

Have questions? Give us a call at 905-571-2665 (BOOK)!
We’ve got you covered!

Shaelene’s Tax Tip of the Week – June 2nd

Books In Line

Have you protected your business?

You qualify for a tax deduction if you have General Business Liability Insurance, Business Property Insurance, or Business Interruption Insurance.  You cannot, however, claim life insurance unless you’ve used it as collateral for a business loan.

Have questions? Give us a call at 905-571-2665 (BOOK)!
We’ve got you covered!