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butterflysqueeze
April 12, 2022
Question

Do "Professional Fees" include profit and expenses? Or just profit.

  • April 12, 2022
  • 1 reply
  • 0 views
For small business owner

    1 reply

    L
    lamanhcb
    April 13, 2022

    Yes, it includes profit and expenses.

    Deduct the fees you incurred for external professional advice or services, including consulting fees.

    You can deduct accounting and legal fees you incur to get advice and help with keeping your records. You can also deduct fees you incur for preparing and filing your income tax and GST/HST returns.

    For more information, please see the Canada Revenue Agency (CRA) link as Professional fees (includes legal and accounting fees).

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