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April 25, 2022
Question

Can I put your fee into my tax return?

  • April 25, 2022
  • 1 reply
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    1 reply

    April 26, 2022

    According to the Canada Revenue Agency (CRA), you are allowed to deduct reasonable accounting fees, meaning fees associated with the preparation of your tax return. You are also allowed to deduct legal fees you paid to collect employment income information of employees even if they are not directly paid by your employer.

     

    However - You are not allowed to deduct accounting fees associated with preparation of your tax return if it is a personal tax return. It must be deducted as a business/rental deduction; Like if you're self-employed, own a business, or earn rental income. Then you may deduct accounting fees.

    For more information, check out: Canada Revenue Agency - Accounting and Legal fees

    TurboTax - Deducting Tax Preparation Fees

     

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