Common Tax Deductions for Self-employed or Small Business Owners
As a self-employed or small business owner, you may be eligible to deduct a range of business expenses from your taxable income. This can help you reduce your tax bill and keep more of the money you earn. The Income Tax Act provides guidelines for what expenses are deductible, but in general, any expense that is necessary to run your business is likely to be deductible.
Is Your Moving Expense Tax Deductible?
Canadians can deduct certain moving expenses on their tax return. But not everyone can claim moving expenses and not all expenses are eligible moving expenses.
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