Maximize Your Business Tax Deductions
Filed in archive Taxes on December 28, 2006
Like most business owners December 31st is the date of your year-end. The next few days are the last chance you will have to make tax deductions for the year.
Fortunately, there is a great resource online to help you maximize your tax deductions.
The first rule for maximizing your business income tax deductions is to have all your business-related receipts. The CRA (Canada Revenue Agency) insists that all of your business expenses need to be backed up with receipts, so you have to collect them (and keep them for six years, as the CRA may want to look at them sometime). Via Small Business Canada
There are six tips related to "Income Tax Deductions and The Cost of Doing Business" and I recommend that you check them out.
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