SAUVE TAX SERVICES IS NO LONGER TAKING ON NEW CLIENTS WHO HAVE BUSINESS INCOME, RENTAL INCOME, FOREIGN INCOME, HOME DAYCARES or EMPLOYMENT EXPENSES.
THIS AREA IS RESERVED FOR CURRENT CLIENTS WHO MAY OR MAY NOT BE GRANDFATHERED IN.
THANK YOU
All current STS clients must complete these logs if they have a small-business, home day-care or rental property(ties). Please follow the instructions that come with each log. At tax time, provide STS with only the Annual Summary as instructed. Failure to provide these logs is subject to a $70/hour bookkeeping fee or depending on the time of year, it will not be possible for me to do your tax return on time.
Rental Properties
- If you have boarder(s), use the Rental Income for Boarders form. Please note that to claim rental income for boarders and issue rent receipts – you must be expecting a reasonable profit. CRA does not consider renting a room to a family member or friend who is helping out with groceries and utilities a boarder but rather considers this a cost-sharing arrangement. In this case, you are not able to claim rental income/losses and the boarder is not entitled to rent receipts.
- If your Rental Property is also part of your principal Residence (ie you live in part of a Duplex, Triplex etc. ) use the Rental Property Log for Duplex form.
- If your rental property is NOT your Principal Residence use the Rental Income form
- If you own a rental property that is NOT your Principal Residence, you may also be entitled to claim Motor Vehicle Expenses that relate to your rental property but not the travelling you do to collect rent.
- If you own more than one rental property that is NOT your Principal Residence, you may also be able to claim Motor Vehicle Expenses that relate to your rental property including the travelling you do to collect rent.
- If your main source of income is derived from rental properties, you may be entitled to claim Business-Use-Home Expenses – this is typically 10% of all your household expenses.
Small home-based Businesses
- If you run a small business, please use this Business Activities Log to track your revenue and expenses.
- If you run a small business and have a motor vehicle, you may be entitled to claim Motor Vehicle Expenses that relate to your business
- If you run a small business from your home, you may be entitled to claim Business-Use-Home Expenses that relate to your business – this is typically 10% of all your household expenses.
Home Daycare
- If you run a home daycare, please use this Daycare in Home Log to track your revenue and expenses.
- If you run a home daycare and have a motor vehicle, you may be entitled to claim Motor Vehicle Expenses that relate to your business.
- If you run a home daycare, you can also claim Business-Use-Home Expenses that relate to the space of your daycare in your home – this is typically between 20-40% of all your household expenses depending on the number of children and how what percentage of your home is used.
FOR ALL SITUATIONS – I ENCOURAGE ALL CLIENTS TO READ THE FOLLOWING INFORMATION SHEET ON MOTOR VEHICLE EXPENSES
