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Ammendments

Can office expenses ie. percentage of mortgage, heat, hydro, etc. be deducted from my surplus income as a necessity of conducting business and earning a living

Posted from: Ontario

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One Response to “Ammendments”

Barton Goth – Goth & Company Inc. -Trustee in Bankruptcy said...

In certain circumstances yes these items can be deducted. The most common of which are if you are self employed and have an office in the home or if your employer requires you to have an office in the home and provides you with the proper tax documents verifying that this is a necessary expense for employment and is in fact tax deductible. However, if your employer doesn’t provide you a copy of this form, then the expenses are not subtracted out of your income.