What Expenses Can Commission Salespeople Claim?

Employees who earn their living negotiating contracts for their employers or selling on commission may claim certain itemized sales expenses.  In all cases, however, receipt keeping is key; as is the availability of employer-signed Form T2200 Declaration of Conditions of Employment in case of audit.

Life Purpose

“Good thinkers are always in demand.  A person who knows how may always have a job, but the person who knows why will always be his boss.”  John C. Maxwell

How Are Auto Expenses Claimed?

The rules for claiming automobile expenses are similar for both employed and self-employed people, and they are also among the most frequently audited. Taxpayers will want to keep proper documentation and make the claims correctly.

Students and their Parents Lose Ground the Term

Despite a CRA new release which tells students they will be saving more on their taxes this term, students and their parents will actually pay more tax in 2017 due to the March, 2016 budget.  Here are the details that students, parents and tax preparers need to know about as they spend money on their education in 2017:

Canadians Are Spending on Housing

Albertans lead the country on spending money, based on a new survey on household spending released at the end of January by Statistics Canada.  The figures are indicative of tax and financial planning opportunities required by families at all ages.

End-To-End Advisor-Client Experience Important

The RRSP deadline for those making contributions to reduce their 2016 tax liability is fast approaching: midnight March 1.  It’s important to get this done on time as a good Plan A, but also, to do so in conjunction with a long term financial planning outlook, as an even more important go-forward plan.

DAC CANADA150 Financial Trivia Question for February

You have another chance to answer our Canadian Trivia Question and win a free registration to Distinguished Advanced Conference (DAC), November 5-8 in Kelowna, British Columbia.
 
 

People in the News

 
 
Knowledge Bureau Poll Question

Is it time for the government to raise the 18% limitation restricting contributions to an RRSP by lower income earners?

  • Yes
    106 votes
    70.2%
  • No
    45 votes
    29.8%