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.
As a self-employed individual, the due date for your personal income tax return (as well as your spouse’s return) is on or before June 15th. However, if you owe money it’s due on April 30th!
My tax tip?
Forget all about the June 15th due date and always treat your bookkeeping and taxes as though everything should be completed and ready to be paid by April 30th.
