April 30th is coming faster than you think so if you’re not already thinking about taxes, it’s time to start. While we always recommend working with a professional to do your books, it’s also wise to have a good understanding yourself.
Knowing which expenses you can claim and how to do it is valuable year-round, and makes tax season less stressful on you and your accountant. This video posted by Answer W Bradley (a Retirement Planner from Ottawa) provides a general list of deductible business expenses for Canadian small businesses. You can also see the complete list and explanations here.