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

Comments for Income Tax Deductions as a Realtor

Average Rating starstarstarstarstar

Click here to add your own comments

Jun 07, 2018
Rating
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?

Thanks for your contribution!

Click here to add your own comments

Join in and write your own page! It's easy to do. How? Simply click here to return to Income Tax Deductions Questions.


Please subscribe to my monthly newsletter, Bookkeeping Basics E-zine. It tells you every month about the new information that I have added, including some great tips and advice from myself and other Bookkeeping Basics readers.

Enter Your E-mail Address
Enter Your First Name (optional)
Then

Don't worry — your e-mail address is totally secure.
I promise to use it only to send you Bookkeeping Basics E-Zine.

Like Bookkeeping-Basics.net?