Numerous court decisions in Britain, Canada, and the United States have repeatedly recognized the rights of taxpayers to arrange their affairs so that the least amount of tax is payable by them. The classic pronouncement on this subject was rendered in a 1936 British case appealed to the House of Lords, (the highest Court of Appeal in the United Kingdom, and until 1948, in Canada as well) C.I.R. vs. The Duke of Westminster (19 T>C>,490). Their Lordship stated:
“….every man is entitled, if he can, to order his affairs so that the tax attaching under the appropriate Acts is less than otherwise would be. If he succeeds in ordering them so as to secure this result, then however unappreciative the Commissioners of Inland Revenue, or his fellow taxpayers may be of his ingenuity, he cannot be compelled to pay an increased tax….”
Deductible Expenses that Require Receipts include:
CREA & Board Dues, E & O Insurance, License, Courses
Websites, Domain & Webmaster Costs
Office in the Home, Salary to Assistant, Keyboard, Administrative, Family Members
Lock Box, Keys Cut etc.
Fuel for Business Vehicle, License, Warranty, Repairs, Tires, Insurance, Clubs
Computer Lease/Purchase, Shredder, Copier, Maps, Desktop Publishing
Postage, UPS, Fedex, Courier, Thank You Notes, Farm Handouts, Mail Drops
Cell Phone costs, Second Landline cost for Fax, Long Distance
Loan Interest for Business Auto, and/or Lease Payments (watch for capping)
Cost to Purchase/Lease Blackberry’s, including Warranties, Repairs, Batteries
Business Cards, Stationary, Office Supplies
Name Badges, Riders, Stickers, Signs, Posts, Billboards, Installation & Removal
Tool Kits, Flashlights, Tape Measures including Laser, and any Other Tools
Advertising of All Types, Bus Stops, Billboards, Personal or Property Promotion
Listing & Selling Presentation Flyers/Manuals
Distinctive Career Apparel & Dry Cleaning (Uniform)
Printing of Business related Handouts, Personal Flyers etc.
Renting of Office Desk Space
Auto Signs, Magnetic, Roof Signs, Rear Window etc.
Required Training Courses to Upgrade Skills, Webinar, DVD, CD, Live Events
Parking Meters, Parking Garages with or without a receipt
Business Meals Locally & While Travelling for 12 hours (50%)
Overnight Travel, Lodging, Airfare, Taxi, Car Rental, Baggage, Tips, Dry Cleaning, etc.
Home Office Desk & Furniture
Briefcase, Computer Case, and/or Business Purse
Client Promotional Gifts, Flowers, Plants, Gift Certificates, Memberships, etc.
Bank Charges and Fees, Interest Costs