Thank you for the information. Can you share info on Travel expenses if you have rental property (not under corporation) outside of the province you are living in within Canada.
Great question. Reasonable amount of travel expenses can be claimed, however, you should keep in mind any personal portion cannot be deductible. Personal portion such as kids traveling cost, kids meals, etc. Be sure to speak to a professional accountant to understand the potential risks involved. As always, we're here to help if you ever need some help.
If you are a travel content creator and genuinely having a business of making money from your travel content, then you may be able to deduct travel insurance on trip that you are creating content out of and that you are benefiting from it. Just because you're a content creator - does not necessarily mean that you can deduct the expense. CRA would want to know if you are operating it as a business or a hobby. Many people are operating this as if it is a hobby, in which case, no deduction is available
the space station story is very shocking How sleazy can you be to set up a $42,000,000 trip to space for yourself and attempt to claim it as an "marketing" expense.. so greedy
Hi Michael, I have done many videos on capital gains tax.. you can watch them here. th-cam.com/video/ZPx9zZc34yQ/w-d-xo.html th-cam.com/video/T42Q6KBoBTI/w-d-xo.html However, for a personalized consultation, kindly speak to your real estate tax account as each individuals situation is unique and sensitive. Feel free to contact our office at 416-548-4228 or email us at admin@cccpa.ca
What about airfare incurred for an annual CCPC shareholders meeting outside Canada?
Love your channel! Thank you!
Glad it is helpful!
Thank you for the information. Can you share info on Travel expenses if you have rental property (not under corporation) outside of the province you are living in within Canada.
Great question. Reasonable amount of travel expenses can be claimed, however, you should keep in mind any personal portion cannot be deductible. Personal portion such as kids traveling cost, kids meals, etc.
Be sure to speak to a professional accountant to understand the potential risks involved. As always, we're here to help if you ever need some help.
thank you!
Can you deduct travel insurance if you are a travel content creator?
If you are a travel content creator and genuinely having a business of making money from your travel content, then you may be able to deduct travel insurance on trip that you are creating content out of and that you are benefiting from it.
Just because you're a content creator - does not necessarily mean that you can deduct the expense. CRA would want to know if you are operating it as a business or a hobby. Many people are operating this as if it is a hobby, in which case, no deduction is available
@@RealEstateTaxTips thank you for that.
the space station story is very shocking How sleazy can you be to set up a $42,000,000 trip to space for yourself and attempt to claim it as an "marketing" expense.. so greedy
disallowed by CRA though.
If you sell a house in both you and your spouse's name. Do you both have to pay capital gains tax?
Hi Michael,
I have done many videos on capital gains tax.. you can watch them here.
th-cam.com/video/ZPx9zZc34yQ/w-d-xo.html
th-cam.com/video/T42Q6KBoBTI/w-d-xo.html
However, for a personalized consultation, kindly speak to your real estate tax account as each individuals situation is unique and sensitive.
Feel free to contact our office at 416-548-4228 or email us at admin@cccpa.ca