Top 10 Tax Deductions for Small Businesses in Canada

Looking for some tax write-offs for your Canadian small business before the end of the year? Luckily there are still a few months left and I share the top 10 tax write-offs every small business in Canada should take advantage of. In this video, I explain what a tax write-off is and how it works, the benefits of strategically using write-offs to lower your tax bill, and why one of the best write-offs and investments I made in my own business was accounting software and my accountant (like this video's sponsor ReInvestWealth). Also, even though ReInvestWealth's base plan is FREE, if you did want to use one of their all-in-one plans, don't forget to use promo code JESSICAMOORHOUSE to get a 50% discount on the first 3 months. *This video is sponsored by ReInvestWealth, but all views and opinions expressed are my own and are based on my own research of the subject matter.* 📖 CHAPTERS 00:00 Introduction 01:50 What is a write-off & how do they work? 03:49 Advertising & marketing 04:47 Travel 05:51 Professional dues 06:29 Commercial insurance 06:52 Bank & payment processing fees 08:19 Loan interest 09:03 Business-use-of-home expenses 09:58 Professional fees 10:39 Office expenses 11:28 Office supplies 12:05 ReInvestWealth walk-through 📹 WATCH NEXT https://www.youtube.com/watch?v=mHNxmEf1rso https://www.youtube.com/watch?v=WvLyt6r3HT8 https://www.youtube.com/watch?v=4mpgzso4RLs 📌 RESOURCES Learn more about ReInvestWealth https://www.reinvestwealth.com/ Incorporating a Business in Canada: Incorporation vs. Sole Proprietorship https://www.youtube.com/watch?v=WvLyt6r3HT8 Self-Employed Taxes in Canada: How Much to Set Aside for CPP, EI & Income Tax https://www.youtube.com/watch?v=otd-MLy1qXg GST, HST, PST - Sales Tax for Small Business in Canada Explained https://www.youtube.com/watch?v=6WVle5QlFrM List of other business expenses you can claim https://www.canada.ca/en/revenue-agency/services/tax/businesses/small-businesses-self-employed-income/business-income-tax-reporting/business-expenses.html 🔗 AFFILIATE LINKS Borrowell https://jessicamoorhouse.com/borrowell-aff Wealthsimple Trade https://jessicamoorhouse.com/wealthsimpletrade-aff Questrade https://jessicamoorhouse.com/questrade-aff 1Password https://jessicamoorhouse.com/1password-aff Willful https://jessicamoorhouse.com/willful-aff Ownr https://jessicamoorhouse.com/ownr-aff Rakuten https://jessicamoorhouse.com/rakuten-aff 📚GET COPY OF MY BOOK "EVERYTHING BUT MONEY" https://jessicamoorhouse.com/book 📈 WEALTH BUILDING BLUEPRINT FOR CANADIANS COURSE Learn more about my investing course https://jessicamoorhouse.com/course 💻 BUDGET SPREADSHEETS Download one of my budget spreadsheets to get your financial life together https://jessicamoorhouse.com/shop 📹 MY CAMERA/STUDIO EQUIPMENT Camera https://tinyurl.com/4u2x8ajx Lens https://www.sigmaphoto.com/35mm-f1-4-dg-hsm-a Mic https://amzn.to/3MWCmlN Colour background lights https://amzn.to/3MdYEiU Key light https://amzn.to/3ySPqVW Side lights https://amzn.to/4fKEsTf Backlight https://amzn.to/3XGkW1I MORE ABOUT ME 🙋‍♀️ ABOUT ME https://jessicamoorhouse.com/about 📚 BOOK https://jessicamoorhouse.com/book 🎙 PODCAST https://jessicamoorhouse.com/podcast ✉️ NEWSLETTER https://jessicamoorhouse.com/subscribe 📸 INSTAGRAM https://www.instagram.com/jessicaimoorhouse DISCLAIMER & DISCLOSURE The content I produce is for education and entertainment purposes only. Nothing on this YouTube channel, my website or affiliated channels should be considered financial, investment or legal advice, or an endorsement for any type of service, product, or brand. Some links in this description may be affiliate links in which I may earn a commission at no extra cost to you. Please read my disclaimer to learn more: https://jessicamoorhouse.com/disclaimer/