Product Description
Rather than wondering “Is it deductible?” make sure it’s deductible. Evelyn Jacks, Canada’s best-selling and most trusted tax author, cuts through the jargon to present important tax facts in a clear, easy-to-read style.
From the Back Cover
Small businesses take many forms these days – from hobbies that provide a little additional income, to profitable home-based businesses of one or more family members, to full-time enterprises well positioned to build both profits and significant equity.
No matter the circumstance, you need to make wise spending decisions all year long to reap all the benefits of legitimate personal and business tax deductions come tax time.
But tax planning, like tax preparation, is full grey areas regarding the taxman’s acceptance of an individual’s business claims. Many small business owners are uncertain about what expenses are deductible, how financial decisions, like buying a computer or paying their spouse can affect their after-tax results, how claiming business losses can reduce taxes in prior and future tax years, how the timing of their business decisions throughout the year can maximize their cash flow and most importantly, how the integration of the activities of both the business and family can create significant wealth over the longer term.
Rather than wondering “Is it deductible?” make sure it’s deductible. Evelyn Jacks, Canada’s best-selling and most trusted tax author, cuts through the jargon to present important tax facts in a clear, easy-to-read style. After assisting more than 14,000 entrepreneurs, this fully revised and updated second edition of Make Sure It’s Deductible includes:
New tax savings due to changes in federal and provincial
tax rate, and tax credit structures
Reductions in income inclusion rates for capital gains or losses
Enhanced expense deductions and tax deferrals on stock option benefits
New rules for those contemplating a new vehicle for use in their small business