April 14, 2019

How not to claim employment expenses on your tax return

A recent tax case shows the right away and wrong way to claim work-related expenses that your employer doesn’t cover. These expenses can include: accounting, legal, advertising and promotion fees, allowable motor vehicle expenses, certain food, beverage, and entertainment expenses, out-of-town lodging expenses, parking, postage, stationery and other office supplies. One important part of claiming these employment expenses is to get your employer to complete and sign a Form T2200 (Declaration of Conditions of Employment), because without it, your deduction can be denied by CRA if audited.

“If you’re an employee who pays for various work-related expenses that your boss doesn’t cover, you may be able to get some tax relief when you file your 2018 tax return by claiming a deduction for valid employment expenses.”

Read more: https://business.financialpost.com/personal-finance/taxes/how-not-to-claim-business-expenses-on-your-tax-return

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