Ask the tax expert: Can I claim my flying lessons on my tax return?
Wednesday, February 22nd, 2012
Question: Can I claim my flying lessons on my personal tax return? Answer: It depends. Eligible tuition fees from a flying school or club are reported on Form TL11B: Tuition, education and textbook amounts certificate. The credit is worth about 21% of the eligible tuition costs of a resident of Ontario. Interpretation bulletin IT-516R2 reports [...]
Accidental American and deliquent tax filer? Ask the expert.
Monday, September 26th, 2011
Question: My parents spent one year living in New York City, and during that time I was born. I am a Canadian citizen and resident having only spent a precious few months of my life on US soil. How do I renounce my US citizenship – acquired by being born on American soil – so [...]
Ask the Expert: What is considered “Business Mileage”
Monday, July 4th, 2011
For tax purposes, how is business driving measured and what should be included as business driving? I have the following 2 scenarios: 1) If I drive from my client’s place and back to my office, is the entire trip which includes the distance driving back to my office counted as business driving? Answer: Driving to a client’s office from home, driving home [...]
Ask the Expert: What meals are deductible while away on business?
Thursday, June 23rd, 2011
Paul Keul, CA Question: When travelling on a business trip, what types of meals can we deduct while away? What if we cook our own meals? Are these meals fully tax deductible? Answer: Assuming the trip is not in connection with a conference, convention, seminar or similar event, and lasts for more than 36 hours, [...]
Ask the Expert: How long do I need to keep our tax records?
Wednesday, June 22nd, 2011
Paul Keul, CA Question: How long do individuals and corporations have to keep their records before we can start throwing them out? In other words, when can we throw out that old document that is still lying around and gathering dust such as old bank statements, tax returns, financial statements, and incorporation documents and articles? [...]
