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

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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

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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 – May 26th

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Did you know?

Claiming auto expenses is beneficial to reducing your taxable business income. Auto expenses include fuel and oil, license and registration, maintenance and repair, insurance, car washes, parking, tolls, interest paid on an auto loan and leasing costs. Be sure not to miss out on these costly expenses by being sure to save every receipt.

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