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Tax Deduction

Home > Tax Deduction

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

  • 02 Dec 2020
  • Shaelene McInnis
  • Tax Tips
  • No comment
Did you know?

Interest on funds you have borrowed for personal purposes are not deductible, but it is possible that available cash you have used to repay loans for investment purposes may qualify.
Have questions? Give us a call at 905-571-2665 (BOOK)!

Shaelene’s Tax Tip of the Week – October 14th

  • 14 Oct 2020
  • Shaelene McInnis
  • Tax Tips
  • No comment
Know the difference between a “tax credit” and a “tax deduction?”

A deduction is an expense or exemption which reduces your total taxable income. The tax credit is what reduces whatever you’re on the hook for income tax wise.
 
Have questions? Send us an email at info@booksinline.ca!

Shaelene’s Tax Tip of the Week – March 11th

  • 11 Mar 2020
  • Shaelene McInnis
  • Business
  • No comment

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! 905-571-2665

Recent Posts

  • Shaelene’s Tax Tip of the Week – January 20th January 20, 2021
  • Shaelene’s Tax Tip of the Week – January 13th January 13, 2021
  • Shaelene’s Tax Tip of the Week – January 6th January 6, 2021
  • Shaelene’s Tax Tip of the Week – December 30th December 30, 2020
  • Shaelene’s Tax Tip of the Week – December 23rd December 23, 2020

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