Incorporating Your Business: A Step Towards Stability
Incorporating a business in Canada offers numerous advantages, especially in a changing economic landscape. As […]
If you are a corporation, partnership or individual and you own or lease a building used primarily to earn business or property income, you can deduct any expenses you incurred during a taxation year for eligible renovations or alterations so that people with a mobility impairment can better access or move around in the building.
Any expenses you incurred to renovate or alter a building used mainly to earn business or property income. You can deduct your expenses from that income to reduce the income tax you have to pay.
See Capital Expenditures.
For more information, see Business and Professional Income (IN-155-V) or Individuals and Rental Income (IN-100-V).
Change things for the better: make small buildings accessible to everyone.
Source Link Deducting eligible expenses for renovations or alterations to improve access to a building
Accounting and Financial News via Acco
Issue 2013-02 of the Businesses – Tax information newsletter is now available. Source Link Businesses – […]
In an ever-changing economic landscape, accurate bookkeeping is essential for businesses of all sizes. The […]
Business valuation is a critical process that helps entrepreneurs and investors understand the worth of […]
A shift is underway in the restaurant sector. If you operate a restaurant establishment where […]