Comments on: Tax Writeoffs for the Self-Employed http://www.mynewcompany.com/blog/tax-writeoffs-for-the-self-employed/ Fri, 29 Aug 2008 03:33:09 +0000 http://wordpress.org/?v=2.6 By: Matt http://www.mynewcompany.com/blog/tax-writeoffs-for-the-self-employed/#comment-7027 Matt Thu, 08 Feb 2007 20:57:32 +0000 http://www.mynewcompany.com/blog/2006/03/09/tax-writeoffs-for-the-self-employed/#comment-7027 Hi Kent, I'm not sure about Canadian law, but US Law offers a deduction for charitable giving but I believe there is a limit. Also, many US businesses simply take a loss and that helps lower their tax bill. Best advised to get an hour or so of advice from a CPA or Tax Attorney. Hi Kent,

I’m not sure about Canadian law, but US Law offers a deduction for charitable giving but I believe there is a limit. Also, many US businesses simply take a loss and that helps lower their tax bill. Best advised to get an hour or so of advice from a CPA or Tax Attorney.

]]> By: Kent Smith http://www.mynewcompany.com/blog/tax-writeoffs-for-the-self-employed/#comment-7017 Kent Smith Thu, 08 Feb 2007 18:21:55 +0000 http://www.mynewcompany.com/blog/2006/03/09/tax-writeoffs-for-the-self-employed/#comment-7017 Hi. We own & operate a small ladies clothing shop. Last season we over purchased inventory. If we donate $30000.Cnd to a womans shelter can we use the entire donation in this tax year? Please note that our company is incorperated. Thank you. Kent Hi. We own & operate a small ladies clothing shop. Last season we over purchased inventory. If we donate $30000.Cnd to a womans shelter can we use the entire donation in this tax year? Please note that our company is incorperated.
Thank you.
Kent

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