As a small business owner, every dollar counts — and maximizing your deductions can make a big difference at tax time. Yet, many entrepreneurs miss out on legitimate claims that could lower their taxable income. At BAB Accounting, we’ve put together five key deductions you shouldn’t overlook this year.
The greatest asset of a consultant is the ability to ask the right questions and guide clients to discover their own accounting answers.
Aryan Greene
Key Points:
- Claim a portion of your rent, utilities, and internet if you work from home.
- Deduct fuel, maintenance, and insurance for business-related travel.
- From computers to stationery, keep receipts for all business purchases.
- Accounting, legal, and consulting fees are 100% deductible.
Pro Tip:
Keep detailed records and receipts — CRA may request verification.
Solvior
Solvior offers a sleek and professional layout that aligns well with the expectations of consulting firms and corporate clients. The design aesthetics project credibility and trust
Solvior
Very well-documented. Even as a beginner, I managed to get everything working without hiring a developer