• New Simplified Home Office Deduction for 2020 Income Tax Year

    Author: K&E Professional Accounting Associates | | Categories: 2020incometax , canada , covid19deduction , CRA , workingfromhomededuction

    Accounting Firm in Winnipeg

    With the onset of the COVID-19 crisis in 2020, numerous employers allowed their employees to work from home.  It is for this reason that Canada Revenue Agency (CRA) introduced a new temporary flat rate method to simplify the process for claiming a deduction for home office expenses for the 2020 tax year.  This is a personal income tax deduction to be calculated on form T777S (Statement of Employment Expenses for Working at Home due to COVID-19), which then needs to be attached to 2020 income tax return.  Only employees that worked more than 50% of the time from home for…

    Read More

  • Bookkeeping Winnipeg
  • Accountants Winnipeg
  • Accounting Firm in Winnipeg Manitoba

Accounting Firm in Winnipeg Manitoba