Tax – Gifts, Meals and Entertainments

Tax – Gifts, Meals and Entertainments

Do you see the importance to offer a present which will return your happy employee?

Create a feeling of belongings, increase the motivation in the workplace?

Presents are deductible up to 500 $

Your company can deduct up to 500 $ a person (by nobody). 

Deduct 100 % of your presents, which will reduce your taxes. Why not to take advantage of it? 

Do not forget to keep your receipts.

Meals and representations – 50 % deductible

You can reclaim 50% of all meals, entertainment expenses, to maintain business relationships with your customers, suppliers.

You can reclaim 50 % of your meals expenses. Why not to take advantage of it?

The end of the calendar year corresponds for many in their end of year. You can take advantage from the situation to well close the year.

 

Article written by : Clinton Tano, CPA auditor, MBA  

Chartered Professional Accountant

(613) 462-3740

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