Takin' Care of Business Ltd.

2020 will be a unique year when it comes to tax preparation! One of the things that will be very different is the inclusion of a dedicated home office space for all the people working from home. The CRA rules around this are still evolving but I think it will ultimately settle for a model similar to the Home Based Employee as seen in the chart below.

We are into the last quarter of 2020 and it's time to get your books in order prior to the tax season. Remember, this year there are all sorts of complications due to COVID-19 supports from the government. Also, remember that a prolonged Pandemic may require you to access additional government funding. You will need to supply up to date financial information to qualify!!!!

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