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Deducting Home Office Expenses for Self-employment

Self-employed people in Canada can take a home office deduction. It's one of the best things about being self-employed: you can take costs you were already incurring -- your residence costs -- and use them to reduce your taxes. Business-use-of-home The Canada Revenue Agency (CRA) calls the home office deduction business-use-of-home. As a self-employed person [...]

Choosing the $500* Work-From-Home deduction vs self-employment business-use-of-home

* Limit was $400 for 2020, $500 for 2021 Covid-19 changed everything, including changes to taxes for the 2020 and later tax years. Now that Canada Revenue Agency (CRA) is offering a small Work-From-Home (WFH) deduction for salaried people, self-employed Canadians have questions. Specifically, people who have always deducted business-use-of-home (BUH) as part of self-employment [...]

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