| 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)! |
| 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! |
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
