The Canadian home-based business tax deduction I'm referring to here is the business-use-of-home expenses (claimed on line 9945 of the T1 tax form).
As I explain in my article, "You can only claim business-use-of-home expenses if your home is your principal place of business, or you use the work space in your home only to earn your business income and use it regularly to meet with clients, customers or patients. So you can't claim business-use-of-home expenses if you are conducting business somewhere else as well, or because you sometimes work on business matters at home."
Read more details about this and how to claim this tax deduction if you do qualify in Calculating The Home Business Tax Deduction.
More on Home-Based Business Tax Deductions:
- 6 Home-Based Business Tax Deductions You Don't Want to Miss
- Business Expenses as Income Tax Deductions Index
- Maximize Your Small Business Income Tax Deductions
- More Ways to Maximize Your Business Income Tax Deductions
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