Sheldon's Tax Tips #8

Keeping Personal & Business Separate

Sheldon’s Tax Tips #8

Now that the holidays are over and we are into the New Year, I want to talk to you about keeping personal & business separate. Don’t mix business with pleasure is an old saying and one you should stick to for your finances. Some simple things you can do are use a different credit card or go through the checkout twice.

CRA will not take the time to go through each item on your receipt it will either go in personal or business.

So if you really need that dog biscuit at the gas station, be precise and checkout twice.