If you work out of your home to earn income, CRA lets you deduct certain expenses for using part of your home as an office, depending on how your business is set up. The expenses you can deduct fall into 2 categories:
Tags: tax deductible expense
“Prepare for the worst and hope for the best” is a common expression. Disability should be on everyone’s list of things to prepare for. Disabilities caused by injury or illness are challenging life events that happen to anyone. Disability and other types of insurance should be part of your financial and business plan.
If you do any amount of driving for work-related purposes, you might be able to claim allowable motor vehicle expenses on your next CRA tax return. Keep reading to learn more about what kind of deduction you can expect, and how to claim it.