When claiming meals and entertainment expenses be sure to write down the name of the person you were with, for example, “potential client: Jane Smith”. Getting into this habit will help to audit-proof your return.
#TaxTipOfTheWeek #BookslnLine
Why should you consider buying into a
Registered Retirement Savings Plan (RRSP)?
It is a great way to save on taxes! Remember, this program is a tax deferral program, meaning that when you withdraw the funds at a later date, it is expected that you will be in a lower tax bracket. Once your money is in the plan it can grow and grow (thank you compound interest!) and again, you will only pay tax on the funds as you withdraw them.
Call Books In Line at 905-571-2665 for more details.
Did you know?
When claiming your meals and entertainment expenses, you should also remember to include the receipt of any tip paid to your server.