Save Taxes

Depending on your perosnal circumstances ( Work, level of income...), there are many ways you can save taxes!!

By getting together we can see if any strategies apply for you.

what kind of personal company could i start for myself to be able to save on everyday spending...gas, internet connection, phone connection..etc. is there a way i can start a small company and claim these as expenses without actually having to work on the company itself? I would just use it as a cover, and if thats not possible then i am willing to contribute a few hours a week to it.

Thanks,
Mike

hellraiser56 said:

what kind of personal company could i start for myself to be able to save on everyday spending...gas, internet connection, phone connection..etc. is there a way i can start a small company and claim these as expenses without actually having to work on the company itself? I would just use it as a cover, and if thats not possible then i am willing to contribute a few hours a week to it.

Thanks,
Mike

Click to expand...

hi Mike... thanks for the inquiry.

what you are looking to do would be tough.... as you already know a salaried employee cant deduct expenses etc...

however someone who is self-employed or has a registered company name can deduct expenses to run their business...

but if you are currenlty employed by a company and you just want to be able to deduct living costs etc.. from your imcome its not possible..... youd have to run a business on the side that generates revenue to be able to deduct expenses... and then file the tax return for it..

it doesnt matter but this specific thread is more about RRSP, retirement, insurance tax saving strategies...

Hope that helps man..

thanks
Tony...

open!