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Check out our Tax Tips with The Mad Accountant
TTT: Home Office & Automobile Expenses
There are lots of things you can deduct from your taxes, and your Home & Automobile expenses are some of the big ones, especially if you are self-employed! However, the CRA looks at these very closely and audits them often. So make sure you do it right, otherwise you could be in for a nasty surprise!
TTT: RRSP Over Contributions
RRSP, RESP, TFSA, FHSA... The acronyms add up. And so do the contributions! Each account has different limits and different rules about what happens if you add more money than you're supposed to. The penalties often add up quickly, so it's very important to stay on top of them!
TTT: Some Bookkeeping Tips
Running your own business can be very rewarding and very lucrative. But there's a lot that goes into it, and bookkeeping is one of the biggest challenges that small business owners face. Check out this week's post for some bookkeeping tips that will help keep you on track for a good year!