Work From Home Tax Deduction

Have you been working from home this year? Here's how you can save big on taxes. For Your FREE Consultation with Rob, simply fill out the form and directly book your strategy session in his calendar here: https://robtetrault.com/speak-to-rob/ Register to our FREE Retirement Planning Masterclass - https://bit.ly/2THZzNj Register to our FREE Alternative Real Estate Investing Masterclass - https://bit.ly/34ySkgB 📽 Watch our other video on Why Having a Financial Planner is Important: https://youtu.be/X2QlZ_DXpSU Canada Revenue Agency (CRA) released detailed guidance on the home office expense deduction, how does it work? 1) The new “Temporary Flat Rate Method” -Employees can claim a deduction on their personal income tax -Provides a deduction of $2 per workday at home -To a maximum of 400$ -Don’t need to determine expenses 2) The “Detailed Method” -Must meet the eligibility criteria -Require additional tax forms (from yourself and employer) -Can claim a portion of certain expenses related to use of work space at home -Must demonstrate expenses 📽 Watch our other video on FOMO Driving Investors To Crypto And SPAC: https://youtu.be/EiM44bTbghE For more information on Rob & The Tetrault Wealth Advisory Group, click here: https://robtetrault.com/about/