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DEDUCTIONS - TAX RETURN        
The standard deduction is a fixed dollar amount that reduces the amount of income on which you pay tax on your tax return.    
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OTHER POSSIBLE PERSONAL DEDUCTIONS

Disability Tax Credit
Health care plan paid through work or private plan
Employment expenses not provided by the employer
Home renovations if it increases square footage
Moving costs


RECEIPTS AND INVOICES REQUIRED FOR BOOKKEEPING AND BUSINESS CLIENTS

Income Invoices, Bank Statements, Deposit Slips


VEHICLE TOTAL KM DRIVEN AND % DRIVEN FOR BUSINESS

Fuel: All Receipts For The Year
Insurance: Name Of Company And Total Cost For Year
Licensing: Receipt From Mto
Repairs: All Receipts For The Year


HOME OFFICE % OF HOME USED FOR BUSINESS

Insurance: Name Of Company And Total Cost For Year
Mortgage Interest: Statement From Mortgage Holder
Property Tax: Installment Forms
Rent: Receipts
Repairs: All Receipts Related To Repairs
Telephone: All Telephone Bills
Utilities: All Heat, Hydro, Wood, Oil, Etc Bills


BUSINESS OFFICE 100 % OF ALL EXPENSES DEDUCTED

Insurance: Name Of Company And Total Cost For Year
Mortgage: Interest Statement From Mortgage Holder
Property Tax Installment Forms
Rent: Receipts
Repairs: All Receipts Related To Repairs
Telephone: All Telephone Bills
Utilities: All Heat, Hydro, Wood, Oil, Etc Bills


OTHER

100% advertising all bills for the year
Bank fees: all bank statements/canceled checks
Biz supplies: all bills for the year
Cell phone: all bills for the year
Delivery: all bills for the year
Internet: all bills for the year
Liability insurance: name of the company and total cost for a year
Office supplies: all bills for the year
Purchases: all bills for the year
Food: determined by the type of business
Credit interest: business portion only


CCA DEPRECIATION OF ASSETS

Annual Small Tools: Includes Anything From Calculators To
Hand Tools And Computer Software
30% Vehicle: Date Of Purchase, Year, Type And Cost
Trailer: Date Of Purchase, Year, Type And Cost
20% Computer: Date Of Purchase, Year And Cost
Power Tools: Date Of Purchase, Year, Type And Cost
Office Furniture: Date Of Purchase, Year


NOTE: Not all these expenses are deductible by your business. Please contact your accountant or GUARDIAN FUNDAMENTAL for more information.

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