Did you know?
You can deduct 50% of your meals and entertainment as long as it’s for business use.
Have questions? Give us a call at 905-571-2665.
Beware of “superficial” loss, which happens when you dispose of capital property at a loss but then purchase it back less than 30 days later. This includes any property that creates any capital gain or loss such as an investment. The end result is not being able to claim the loss as a capital loss on your income tax.
Know a senior or someone with a disability that needs to renovate their home due to accessibility issues? They may be eligible for the Home Accessibility Tax Credit, which is 15% of up to $10,000 per year towards accessibility-related expenses which go towards helping them feel comfortable again in their own home.
Have questions? Give us a call at 905-571-2665.