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
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📌 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

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