Shaelene’s Tax Tip of the Week – October 16th

Did you know?

If you’ve taken out a home equity line of credit (HELOC) for business purposes or to invest, the interest on that loan may be tax-deductible. Be sure to track the use of funds to claim the appropriate deductions.

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

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

Books In Line

Did you know?

If you’re giving back this Thanksgiving by donating to registered charities, remember that donations can qualify for both federal and Ontario tax credits, with a higher credit for donations over $200.

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

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Shaelene’s Tax Tip of the Week – April 17th

Books In Line

Did you know?

If you’re self-employed and use your car to earn business income, you may be able to claim vehicle related expenses like gas, insurance, licensing and registration fees, maintenance and repairs, leasing costs and interest on money borrowed to purchase a car.

If the car is also your personal vehicle, you may only write off the portion used for business purposes. To calculate this, you must keep a logbook detailing all your business trips, including  the mileage, date and purpose of the trip. Make sure to document all other expenses and keep receipts organized in one place so you’re prepared if you get audited.

Have questions?

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

We’ve got you covered!

Tax tip found here.