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Although working from home has become a common trend, especially after the COVID-19 pandemic, it is essential to understand the tax implications and what you are allowed to write off.
Many people don't realize they are eligible for home office tax deductions. If you're self-employed, find out if you're eligible for these tax breaks.
The COVID-19 pandemic forced many employees to work from home in 2020, but not everyone can deduct their home office on their taxes.
The Canada Recovery Sickness Benefit (CRSB) provides $500 per week (2 weeks maximum) for workers who: (a) "are unable to work for at least 50% of the week because they contracted COVID-19;" (b) "are self-isolated for reasons related to COVID-19;" or (c) "have underlying conditions, are undergoing treatments or have contracted other sicknesses ...
The COVID-19 pandemic in Ontario was a viral pandemic of coronavirus disease 2019 , a novel infectious disease caused by severe acute respiratory syndrome coronavirus 2 . The first confirmed case of COVID-19 in Canada was announced on January 25, 2020, involving a traveller who had recently returned to Toronto from travel in China , including ...
Working from home is great, but it often comes with surprise expenses. Here are 11 tax deductions you can’t afford to overlook. 7 rules for taking a work from home tax deduction [Video]
The Employee Retention Credit is a refundable tax credit against an employer's payroll taxes. [2] It was established as part of the Coronavirus Aid, Relief, and Economic Security Act (CARES Act), signed into law by President Donald Trump, in order to help employers during the pandemic. [3]
Tax season is here and many remote workers are wondering what expenses they can write off while working from home. In 2022, 60 million people did freelance work, primarily from their home office ...