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Important tax tips for APGO members

from Oscar Torres, CPA, CA, LPA of Bateman MacKay LLP

The way in which expenses are deducted for tax purposes is related to whether a person is an employee, a self-employed individual or an incorporated business.

Employees are very limited in the expenses they can deduct when calculating the tax that is owed to the Canada Revenue Agency (CRA).

Self-employed individuals as well as incorporated businesses have much more flexibility. They can deduct any reasonable expenses incurred to earn income from their businesses. more

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