Income Tax Deductions as a Realtor

by Lora
(Ontario)

Realtor Income Tax Deductions

Realtor Income Tax Deductions

Can I claim/write off dental costs?

Can I claim/write off dry cleaning?

Can I claim/write off costs associated with the ownership of my cottage if I send clients there as a thank-you gift?

greatly appreciate any advice on these topics

Lora

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Jun 07, 2018
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starstarstarstarstar 		Realtor Tax Deduction Expenses
by: Stephanie

On a Federal tax return, you can typically write off your out-of-pocket dental expenses on Schedule A, but the amount is limited based on a percentage of your income.

You can write off dry cleaning for uniforms only.

You can typically write off business use of home expenses for an exclusive use office area, but I'm not sure about a 2nd home used for gifts.

Perhaps someone else out there can help on this one?

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