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Are you missing out on hundreds or thousands of dollars a year that you could be claiming on your income tax?
Pretty much any employee who is required to travel to different places to work could be entitled to claim their travel expenses from home to work and back. These expenses were generally considered personal expenses and were not deductible but this new research reveals a different picture. Certain occupations, including those listed above, can qualify to claim these expenses on their tax return. Most accountants will tell you that you can't, but they obviously haven't found this research yet. If certain conditions are met, you can. I spoke to 3 different people at the tax department before I finally reached a Senior Agent who confirmed my research was correct and the expenses were claimable.
Things are not always as they appear. Sometimes, we have to dig a little deeper to find deductions. With vehicle expenses, I did extensive research and found the support I needed.
Doing the research was only the first step. I then had to convince the employer that my research proved these expenses were claimable so that they would sign the proper T2200 form.
Armed with my client's receipts and my research, I claimed the expenses for two different taxpayers last year. One had a regular part-time location so I claimed the travel only to other locations where she was required to work from time to time. She got back an extra $800 on her tax return from this claim. The other taxpayer did not have a regular location and was constantly working in different locations. His claim was substantially higher and resulted in an extra $4,500 on his return. Now that's a big deal! His claim was also subsequently reviewed by the CRA and it was allowed in full.
Whether you do your own tax return or have someone else prepare it for you, can you afford to give the government thousands of dollars more than you have to? Can you afford to spend weeks or more looking for the documents you will need to support your claim? Can you believe this claim is available and very few people know how to get it? Well I do and I have already done the research and found the necessary supporting documents to make the claim. If you would like me to prepare your tax return or for more information, please give me a call at the number below. Can you afford not to?
Jackie Recoskie - 343-644-1010 - info@BalanceFinancial.ca